College costs are rising, whether for distance learning or traditional campus study. The best way to cut the cost of your online degree is to search for online college grant and scholarship awards, also known as "free college money".

An online college grant is a one-time award of money, based on merit or financial need. Unlike online student loans, grants represent free money that never needs to be paid back.

Grants are the best type of financial aid for both residential and online students.
Grants are essentially free money to study online.

You can get free grants from the federal government, state government, your college, and a variety of private sources, such as trade and professional associations.

A high-school student who also is enrolled in distance learning is the new GetEducated.com online scholarship winner.

Megan McConnell, 17, of Montgomery, AL, hopes to become a sign language interpreter for deaf schoolchildren. She is taking online college classes through Troy University's new Accelerate program, while finishing her senior year of high school at Prattville Christian Academy.

Megan has been awarded a $1,000 GetEducated.com Excellence in Online Education Scholarship for her academic work and extracurricular activities. She is working toward her bachelor's degree in interpreter training at Troy, an Alabama-based school which offers both on-campus and online degree programs.