Student Loans for Online MBA Students

A student loan is often the first step in gaining financing for post-secondary education. These are particularly appealing options for students who do not have merits for scholarship or grant options. Student loans come in a variety of options, such as high-interest options from banks that are bundled in with other “student” options. However, there is an easier way for American students to secure financing from federal sources.

FAFSA and an Online MBA Program

The Free Application for Federal Student Aid is a yearly application that students may submit in order to determine their eligibility for post-secondary funding. This application is available to the majority of American students provided they are citizens or legal residents and have successfully passed high school. It also requires students to have a valid social security number and be up to date with other outstanding loan repayments along with never having been convicted of using federal funds for the sale of drugs. These stipulations can likely encompass the greater majority of US students, so the FAFSA should be a first stop in securing funding!

What Online MBA Programs Qualify for FAFSA?

In order to be recognized for funding through the Free Application for Federal Student Aid, online MBA programs must be delivered through accredited institutions. It is therefore important for students to determine the accreditation status of their prospective programs. It is likely that students will find that their program is indeed accredited, but there are a few telltale signs that a program is not accredited.

The most obvious sign that a program is not accredited is its website. This is because schools in the United States are given a unique domain suffix in order to display their accreditation status to web surfers, which is “.edu”. If schools end in common commercial domains, such as “.com” or “.biz”, then that school should best be avoided as it has not satisfied the US government in terms of its accreditation status.

Another obvious sign that a school suffers from a lack of accreditation are found in the opportunities that students have been given upon graduation. If a seemingly greater majority of students have ended up posting negative feedback surrounding their course, then it is likely that a school is of poorer reputation and this could be linked to a poorer accreditation standard. Students should ideally seek regionally accredited programs for their online MBA program. This accreditation standard was primarily developed for academic book-based learning, which is in direct contrast to national accreditation that is typically offered to vocational or technical training colleges.

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