Lower overall cost for an online M.Ed. program may make distance education programs more affordable, but being able to finance the program may mean the difference between being able to meet your career goals and not being able to meet them. Federal financial aid, bank loans, corporate reimbursement, tuition reduction programs, and scholarships are all ways to make an advanced degree financially feasible.
The University of Phoenix meets the requirement for students to qualify for federal financial aid like Federal Stafford Student Loans, Federal PLUS loans, and Federal Pell Grants. If additional funds are needed then P.L.A.T.O. loans specifically designated for UP students are available. In order to reduce your out of pocket expenses you should also look into employee reimbursement programs at the company that you work for. Finally there are scholarship opportunities available that can be applied for through the University of Phoenix’s Alumni Network or through other sources.
Capella University also qualifies for the same federal financial aid as the University of Phoenix does, and in addition to federal financial aid, Capella also has a list of preferred lenders that give special discounts for Capella graduate students who need to finance their education. Again corporate reimbursement programs should also be considered if available. In addition to federal and private financial aid, Capella also offers a selection of special scholarships like the Robert C. Ford Human Services Scholarship, the Helene Krivoska Scholarship, Go the Distance Scholarship, and the Sallie Mae Fund.
Students can reduce the cost of their education program from Capella University further by transferring up to 12 credits from another accredited Master level program, and/or by earning up to 20 credits through prior learning experiences gained through nationally recognized examination programs, the American Council on Education Credits for Military Training, professional training programs, and other professional certifications.
Capella also offers a financial aid book advance of $250 to students so that they can purchase their textbooks and software before financial aid disbursements are made. To qualify for this advance in funds, students must have completed their financial aid application process, have enough financial aid to cover the advance, and have completed and submitted the Book Advance Form.
WGU, like the other two featured programs, also qualifies for federal financial aid, corporate reimbursements, and scholarships.