Pursuing a degree in an online Master of Business Administration program can cost a lot of money. It is a common misconception that financial aid for online classes is not available. While the costs of an online course may be less than a traditional classroom setting, the sources and processes for financial aid are similar.

Federal student aid is available for online classes

The first place to look for financial aid for online classes is the federal government. Completing the FAFSA, the Free Application For Student Aid, allows the student access to federal grants, loans and other sources of aid including financial aid for online classes. This is the application process for all federal funds available for education.

Grants and scholarships apply to online students

Financial aid for online classes can include grants and scholarships. Although an online MBA program does not include the cost of housing, scholarships and grants apply to the tuition and other costs associated with an online program. Sometimes businesses or individuals offer scholarships for specific costs associated with an online MBA program such as books or tuition. Resources for scholarships and grants can be found at the university or online.

Employers often offer tuition reimbursement

Businesses benefit when their employees further education. Oftentimes, they offer to reimburse part or all of the tuition for their employee pursuing an online MBA programs. This is especially true if the degree will bring value to the business. Some may require you to earn a certain GPA or meet other requirements. Check with a supervisor or human resources manager for more information about potential tuition reimbursement programs.

Finding financial aid for online classes is the same as for traditional coursework. Federal financial aid, loans and scholarships, and tuition reimbursement are available for traditional and online MBA programs. Utilizing whatever financial aid is available allows the student to focus on their studies without worrying about the economic impact of a degree.

Learn more about Texas A&M-Corpus Christi’s online MBA program.