The fastest growing higher education segment is distance learning. The modern-day college students may have family to look after, a full-time job, or multiple obligations where a flexible, online college experience is necessary. Many students choosing distance learning require financial aid to help pay for their courses. There are student loans available for distance learning students.
Federal government loans usually offer distance learning students the lowest interest rates, with the most generous terms. Students can often defer their loan payment if facing hardship or returning to college. There are numerous financial aid opportunities offered by the federal government for students. Here are the loan options:
Alternative Loan Options
Students pursuing online education may find that alternative loan sources may be a good choice. It is important to shop around for loans, as they all have different rates, fees, and repayment policies.
Most states have an authorized party that offers alternative loans to consumers. For example, Sallie Mae is one the countries best and most popular sources for alternative loans, and they offer a Continuing Education Loan for distance learning students.To obtain this loan, students must understand that repayment of the loan can span fifteen or more years.
Another provider that specializes in student loans is the Access Group. Distance learning students are candidates for the Comprehensive Access Loan through the Access Group. Online students are eligible to receive the loans for their full tuition with this program.
Additionally, some schools with distance learning may have unique finanical aid programs, so it is important to talk with your dedicated college representative to find out what opportunities may be available to you.
Benefits of Online Learning
Distance learning advantages include working at your own pace and complete tasks when it's convenient for you. Online students may save time and money because there is no traveling necessary. Many students choosing distance learning require financial aid to help pay for their courses. There are student loans available for distance learning students.