Financial aid encompasses a wide spectrum of programs to help you pay for education expenses at accredited colleges and universities. Financial aid can come from federal programs, state programs, your chosen college, and even private and nonprofit organizations. There are so many options that the process of understanding federal financial aid and what is best for you may feel overwhelming.
During the 2011–2012 academic year, 71% of all undergraduate students received financial aid. This number represents a 66% increase since the 2007–2008 academic year, according to the National Center for Education Statistics (NCES).*
NCES also reported that 57% of undergraduates received federal financial aid in the form of grants, loans, and/or work-study programs in 2012, which represented the bulk of the 66% increase. During the same period, the number of students receiving state financial aid remained the same as in previous years.
When you apply for federal financial aid, you are receiving assistance from the federal government to help pay for the educational expenses of going to a college, university, or technical/career school. The U.S. Department of Education awards approximately $150 billion in federal financial aid annually to students for on-campus and online university degree programs, including:
An essential requirement of federal financial aid programs and some state programs is that the chosen college degree program must be accredited by a reputable and recognized accreditation organization. The U.S. Department of Education will only approve financial aid for accredited college degree programs. Accreditation ensures that universities and colleges meet a rigorous and consistent level of academic standards across their degree programs. When applying to on-campus or online university degree programs, please be sure that the university and your degree program of choice are both fully accredited.
Walden University, for example, is accredited by the The Higher Learning Commission and certified by the U.S. Department of Education as eligible to participate in offering a variety of federal financial aid programs to its students. By providing millions of dollars in financial assistance through scholarships, grants, tuition savings opportunities, and a generous transfer of credit policy, Walden helps students attain their goal of earning an online bachelor’s degree or graduate degree.
At Walden University, we understand that your education is a major financial investment. We know it’s important for you to gain a thorough understanding of federal financial aid options in order to benefit the most from the assistance.
Explore your financial aid options at Walden University. Visit Walden Grants, Scholarships, and Tuition Savings or speak to an enrollment advisor by calling 1-888-990-7172.
Walden University, an accredited institution, has been serving the higher education needs of adult learners for nearly 50 years. Today, more than 47,800 students from across the U.S. and more than 150 countries are pursuing their bachelor’s, master’s, or doctoral degrees or certificates online at Walden.
Walden University's financial aid programs will help you achieve your career goals while you earn your degree at a pace that fits your life and schedule.
*National Center for Education Statistics (NCES), “Fast Facts: Financial Aid,” on the Internet at https://nces.ed.gov/fastfacts/display.asp?id=31 (view online May 27, 2015).
†U.S. Department of Education, “What Types of Aid Are Available,” on the Internet at https://fafsa.ed.gov/fotw1415/help/typesofAid.htm (viewed online May 27, 2015).