Undergraduate Accounting Major Not Required
Financial Aid for Masters of Accounting
Financial aid for the Online Masters of Accounting is readily available through student loans. Most students use the Stafford Student Loan, which is subsidized by the federal government. The main qualification for the loan is that the applicant be a U.S. citizen, although certain legal permanent residents may also qualify.
To obtain financial aid, one simply fills out the online FASFA form. If you want to fill out this form now, click on the link at the bottom of this page, then click on the link for "Program Details."
Basically the FASFA form tells the federal government how much money you (and your "household") have. The FASFA folks then compute your "expected contribution," which they then send to the school of your choice.
Next, the school calculates the expected cost of your education. The school financial aid office then takes this expected cost and subtracts the expected contribution. The resulting difference is then used to determine how much money you qualify for in financial aid.
Finally, the school informs you of the award. You then accept the award and take the school's letter to a bank to borrow the money. The bank lends you the money, but the federal government serves a guarantee.
The procedures vary somewhat from school to school, but schools typically deduct the student's fees from the financial aid award (i.e., the student loan). This may actually happen after the start of classes, but then the school will typically grant a fee deferment until the financial aid is disbursed.
Visit the Online Masters of Accounting web site for more information.
For details on applying, financial aid, and courses, click on "Program Details."