Sticking by his motto of making changes throughout America President Barack Obama instilled numerous ways of financial options to motivate Americans to pursue a higher education. Through bills passed like the $4,000 a year tuition reimbursement program. With this new assistance program now receiving a higher education is even more affordable during this troubling economy. Through the tuition reimbursement package it guarantees a company will reimburse or pay for your courses in advance that will result in completing a degree or certification. Majority of corporations offer a tuition assistance program giving their employees the opportunity to return to college to complete their undergraduate degree, a graduate program or certificate that advances ones knowledge in their field. These corporations view this as investing in their employees because the more knowledge they have the more ways they can contribute to the company.
President Obama also issued a new stimulus package that is known as the American opportunity tax credit. This is a new education tax credit that guarantees students that 100% of the first $2000 and 25% of the following $2,000 of the first 4 years of a college education. With the cost of college skyrocketing this guarantees students a federal tax break. This is another great bill that President Obama and his administration proposed this would give Americans another great option when considering methods on how to help pay for a higher education.
One other option to receive financial aid for paying for your college education is through federal loans known as Stafford loans. To qualify you have t be enrolled as a part time student typically 12 units. Unlike the first two options once completing your degree you do have to payback these loans. There is a six month grace period after they graduate, decide to leave school or the amount of classes is not equivalent to be considered part time. Stafford Loans are made available to both undergraduate and graduate students that are enrolled at the university for at least half of the time. There are two types of loans through the Stafford Loans. A subsidized loan, which is offered when the cost of attendance is larger than the students familys expected income and, the other loan is known as an unsubsidized loan. To apply for a Stafford Loan, like all federal aid, students must complete the Free Application for Student Aid (FASFA). The standard interest rate for subsidized loans ranges from 3.5- 5.6% for undergrads but, the rates for graduate students generally are somewhere within 6%.
There are also hundreds of scholarships and grants one can apply for to help finance your education. When applying for scholarships you need to be aggressive and do not fear rejections when applying because people often feel like will not qualify so, the do not even apply. Whats the worst that happen? You apply to another one. The more and more scholarship one applies to the more likely your going to receive a scholarship or grant. And with the possibility to have classes online as opposed to a traditional campus you can become more flexible with your schedule! With the possibility of an
Online education and numerous options to pay for your college why not take advantage of this situation? Learn more about
Online education and
financial aid such as tax credits, tuition reimbursement programs, and scholarship programs.
