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Distance Learning Funding - Options for Your Education
By: Jim Zorn
Distance learning funding is an option for distance learners working in conjunction with the United States Department of Education.
Colleges and universities can also opt for funding for distance learning which they receive in the form of financial assistance to
enrolled degree candidates.
Distance learning funding can be in the form of grants, which are typically awarded by the federal government or by state education
agencies, and are one-time awards of cash that can offset the cost of tuition. Unlike loans, grants do not have to be repaid.
Distance Learning Funding - Scholarships
Scholarships are generally administered by schools or by private foundations. Many scholarships are contingent upon qualifying
criteria, such as financial need, academic achievement, athletic prowess, or successful participation in a community program. Like
grants, scholarships do not have to be repaid, but some awards may carry certain obligations. For instance, scholarship winners
may be required to volunteer time for a community organization or pledge to work in a specific geographic area.
Distance Learning Funding - Loans
Federal Perkins Loans are funds that colleges and universities lend directly to qualifying students to help cover the cost of tuition.
After graduation, alumni repay their colleges over the course of ten years at a low, fixed interest rate. Distance learning funding can
also be in the form of Subsidized Stafford Loans as they are offered to students who demonstrate significant financial need.
These loans help bridge the gap between a student's tuition and their other financial resources, including scholarships and grants.
The Department of Education pays all of the interest charges that accrue during a student's degree program, shaving th