Once you've made the decision to get an online education , your next objective becomes figuring out how to pay for school . College can be expensive, as any admissions counselor can tell you. But if you know where to look, you can find opportunities for financial aid that are affordable and easily accessible.

The federal government has established several education loans to help college students finance their online education . Applying is relatively simple, and all schools will accept at least one form of federal financial assistance .

The most common form of government financial aid is the Stafford Loan . A Stafford Loan is easy to obtain, because eligibility is not determined by financial need. Instead, students are usually approved for financing, and the amount and type of loan are determined by need and credit history.

There are two types of Stafford Loans - subsidized and unsubsidized. Students who qualify for an unsubsidized Stafford loan have to repay the loan amount plus interest. They may begin making payments during school or after graduation. The federal government pays the interest that accrues for a subsidized Stafford Loan , so the borrower is only responsible for paying back the original loan amount.

Stafford Loans can be used to pay for a variety of education expenses, including tuition and fees, books and material, and educational equipment such as computers.

Federal Stafford Loans are preferable to borrowing from commercial banks for several reasons. Government education loans have very low interest rates, making borrowing much more affordable. Also, payments on education loans can be deferred until the borrower is able to begin repayment. The government is interested in helping American citizens complete their education and find good jobs, and so financial assistance is a priority. Banks and lending institutions are in the business of making money, and do not have students' best interests in mind.

In addition to the Stafford Loan , there are other governmental financial assistance programs. Perkins Loans , PLUS loans , and Pell Grants are just a few of the many education financial aid programs offered by the federal government. Grants are especially helpful, because they do not have to be repaid.

Submit a Federal Application for Student Aid (FAFSA) to find out what kind of financial aid you are eligible to receive. Your eligibility and loan amounts will be based on the amount you can contribute to your education, your income, assets, and enrollment status. College is expensive, but thanks to the many opportunities for financial assistance , almost everyone can afford an online education.

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