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5 types of online college grants that all students must know about

A college grant is a one-time offering to students for their education fees, based on their merit or financial situation. The course pattern and study style might be slightly different for online colleges, but the grants offered by these colleges follow a similar structure. The terms and conditions for getting a grant for your online college are similar to the regular college system. Additionally, there are a few added perks associated with online college grants. Following are some types of online college grants.

Need-based grants
One of the more commonly known types of grant, need-based grants are offered to students who cannot afford their college fees. These can be either full or partial grants based on the financial situation of students. The gap between the expected family contribution (EFC) and the total cost of attendance determines the qualification criteria. Filling out the FAFSA® (Free Application for Federal Student Aid) application is the first step towards getting a need-based grant.

Merit-based grants
Most of us believe that only straight-A students receive merit-based grants. However, that is not true; a balance in sports and academics or excelling in extra-curricular activities could also get you a merit-based online college grant. Athletic merit scholarships, artistic and literary merit scholarships, and tuition waivers are some common types of merit-based online college grants.

Academic departmental grants
Having a concrete plan of majoring in a subject can also give you access to some online college grants. These grants are called departmental grants. The chances of getting a grant are higher if you are majoring in the same college. For example, if you are thinking of majoring in accounting, you must contact the secretary or the concerned professor for more knowledge on a grant and check if the college has a masters’ program as well.

Corporate grants
One does not need to be currently employed to avail a corporate grant. For example, the corporate grant will be valid even if the individual availing the grant has quit the company. These grants are common among large companies such as Coca-Cola and are generally applicable to employees, spouses, and their children. However, corporate grants and their qualifications largely depend on the company’s terms and conditions. Burger King℠ Scholar Program and Coca-Cola Leaders of Promise are two common examples of corporate grants for online colleges.

Professional association grants
Along with a heavy budget for workshops, mentoring, and networking, professional associations also have a yearly budget for grants and scholarships. There are multiple online forums you can use to find an online college grant for your career path.

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