New scholarships available to students of an online university

Online students are to be served by more scholarship programs.
Online students are to be served by more scholarship programs.

An online university has launched two new financial aid initiatives to award more than $2.5 million in scholarships to students over the course of three years. Degree seekers will be able to use the funds to pay their college tuition, according to a report on usnewsuniversitydirectory.com.

One of the scholarship initiatives will allow degree seekers nearly $1,500 to put toward the cost of their education. If these students are enrolled in the university's portfolio development course, they will be able to eventually amass a folder of work to petition for credits at the institution, the media outlet reports.

According to the news source, students who are based in California may be eligible to receive $5,000 in tuition scholarships to complete online degree programs through the web-based university. The school is "employing a number of innovative solutions to help California students affected by the budget crisis," noted the institution's president Gregory Marino. He added that the aid programs are "designed to provide greater access to higher education while keeping costs at a premium."

Distance learning has proven increasingly attractive to American college students over the past few years. In fact, 4.6 million students were taking at least one online course during the fall of 2008, according to a 2009 Sloan Consortium report.

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