Many universities that offer online degree programs also offer financial assistance for students taking online classes in an approved program. Schools that accept federal financial aid enable qualified students to use various federal grants for online classes, and a student may have state grants available if the school is in the student's home state. Many online schools offer institutional grants for students enrolled in specific programs and for those who are new to the school or are returning for a second degree. Private scholarships are another source of grant money for students planning to further their education online.
There are various federal grants available for online classes at accredited schools, and many states have their own programs. Available federal grants in the United States include the Academic Competitiveness Grant (ACG), two types of Pell Grant, the National SMART Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), and the TEACH Grant, which is specifically for educators. While the Pell Grant and FSEOG require one to show financial need, the TEACH Grant and National SMART Grant require students to be enrolled in qualified majors. The ACG, on the other hand, requires that students maintain a certain grade point average at college and have completed an approved high school program that includes specific classes. Individual states may offer grants for online classes for students who show financial need, study a specific field or are part of a minority group.
Some schools offer private grants for online classes if the student is enrolled in a specific program and meets additional requirements. Some grants are only for new students in bachelor's or master's programs, but some schools provide grants for continuing students who remain enrolled in a specific number of credit hours. These grants usually require students to submit an application within a particular time frame and may involve a personal interview or essay. Students who graduate from a school and want to enroll in a new program also may be eligible for institutional grants.
Although the scholarship details may not always indicate that one can use the funds for online classes, one can use some private funding for online classes if the prospective school meets accreditation requirements. Students can visit various websites to apply for scholarships and grants for online classes, and one can usually find grants geared toward his or her intended college major, skills, hobbies or interests. Other grants may only accept current high school students as applicants and require a certain grade point average; however, there is private funding for current undergraduate and graduate students, as well.