The best online colleges that accept FAFSA – 2024

The convenience of an online degree is tempting. So convenient, in fact, that some people wonder whether online colleges are truly legit. Do they offer financial aid? Are they respected on the job market? Are online colleges accredited? What’s the catch?

We’re here to reassure you with the cold, hard facts.

Many online colleges accept FAFSA and are respected on the job market. However, this depends on one important factor: their accreditation. Read on to find out more.

In this article, we reveal the best online colleges that accept FAFSA in 2024. These colleges provide a winning combination of affordability and high earning potential, making them a worthwhile investment in your future.

Do online colleges accept FAFSA?

Mostly, yes! Online colleges accept FAFSA as long as they are accredited. To become accredited, they must submit to a peer review process by an accrediting body.

This accrediting body must be recognized by the U.S. Secretary of Education. Several dozen accrediting bodies have achieved this recognition.

You can check a college’s accreditation by searching the Department of Education’s DAPIP database.

Some online colleges are much cheaper than others, and this has a lot to do with how much financial aid they give out. Ensuring that a college accepts FAFSA is a crucial step as you investigate online degrees.

The best online colleges that accept FAFSA

Below is a list of accredited colleges that take FAFSA, ranked by value for money, as reflected in each school’s economic score (ES). The lower the ES, the better. You can find out more about how we rank colleges in the blue box below our lists.

Unfortunately, we cannot rank all accredited online schools, as some do not disclose sufficient data to the government. Popular accredited online schools we can’t rank include Purdue University Global and Walden University.

Colleges that accept FAFSA – Outstanding Value

The following colleges provide outstanding value for money, meaning they are in the top 5% of all universities (online or not) according to our economic score metric, which captures which universities offer the optimal combination of affordability and high earning potential.

For the top 5 universities, we also reveal what percentage of students receive a grant to help cover the costs of their education (a grant is free money awarded based on financial need).

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1. University of Florida, Online – ES 0.71

First on our list is the University of Florida, or UF, a large public university headquartered in Gainesville. Through UF Online, it offers a large number of fully online 4-year programs that confer the same degree that traditional UF students get.

Thanks to its highly affordable tuition, financial aid options, and rigorous academic standards, UF provides the highest-value online degree in the country.

Students have access to student and career support services that set them up for success after graduation.

UF offers a considerable degree of flexibility. You can take anywhere from 3 to 18 credits in a semester to earn your degree at your own pace. What’s more, most UF Online courses are asynchronous, meaning you can watch lectures and complete assignments on your own time.

• Percent of students awarded grant: 88%
• Graduation rate: 88%
• Average yearly net cost: $55,77
• Average earnings: $64,463

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2. Colorado State University, Global – ES 0.90

Colorado State University-Global Campus is the online version of Colorado State University, a well-regarded public university. By value for money, it is the 2nd best online college that takes FAFSA in the country. CSU Global is headquartered in Aurora. It offers a range of undergraduate, graduate, and certificate programs. Many CSU global students are working professional adults.

By value for money, CSU Global is the second-best online university in the country.

Most courses are 8 weeks long and culminate in a Portfolio Project. While you can take classes at any time of day, you’ll still have weekly deadlines to keep you on track.

CSU global offers 24/7 academic support, career coaching, and student success counselors, meaning you won’t feel alone even if you’re studying from home.

• Percent of students awarded grant: 33%
• Graduation rate: 67%
• Average yearly net cost: $14,954
• Average earnings: $79,496

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3. Columbia Southern University – ES 0.91

Coming in at number 3, Columbia Southern University is a private, for-profit university based in Alabama. Its programs are 100% online, and it offers 98 degree programs at the associate, bachelor’s, and master’s level. Thanks to its thoughtfully developed online curriculum, its students pay nothing for textbooks.

The college allows you to transfer previously earned college credits and apply for federal financial aid, as well as military and veteran benefits.

Programs include the B.S. in Occupational Safety and Health, the B.S. in Fire Administration, and the B.S. in Business Administration.

• Percent of students awarded grant: 88%
• Graduation rate: 47%
• Average yearly net cost: $11241
• Average earnings: $74,398

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4. Franklin University – ES 1.14

Franklin University is a private, not-for-profit university based in Ohio. It offers some of the best-value online degrees in the country – by return on investment, it is the 5th best online college that takes FAFSA in the country. While it has a campus in Columbus, as well as multiple “location centers” throughout the Midwest, most of its students take courses online. Like all the colleges on this list, it is fully accredited, meaning your financial aid applies.

Programs are flexible and designed with busy working adults in mind.

• Percent of students awarded grant: 31%
• Graduation rate: 58%
• Average yearly net cost: $7,201
• Average earnings: $51,859

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5. American Public University System – ES 1.22

Despite the name, American Public University System is a private, for-profit institution. Based in West Virginia, all its classes are offered online.

Despite operating on a for-profit business model, APU’s economic outcomes are highly competitive on the online college market. The school is also a popular choice among veterans; about 56% of its student body has served in the military.

It operates a Center for Cyber Defense, Center for Space Studies, Center for Teaching & Learning, and IntelHub.

• Percent of students awarded grant: 88%
• Graduation rate: 1.22
• Average yearly net cost: $10,563
• Average earnings: $59,367

Colleges that accept FAFSA – Very good value

The following colleges provide very good value for money, meaning they are in the top 20% of all universities (online or not) according to our economic score (ES) metric, which captures the universities that offer an optimal combination of affordability and high earning potential.

Colleges that accept FAFSA – Average value

The following 5 colleges provide average value for money, meaning they are in the top 40% of all universities (online or not) according to our economic score (ES) metric, which captures the universities offering an optimal combination of affordability and high earning potential.

Colleges that accept FAFSA – Below-average value

The following 5 colleges provide below-average value for money, meaning they are in the bottom 40% of all universities (online or not) according to our economic score (ES) metric, which captures the universities that offer an optimal combination of affordability and high earning potential.

Colleges that accept FAFSA – Poor or terrible value

These colleges provide poor or terrible value for money, meaning they are in the bottom 20% of all universities (online or not) according to our economic score (ES) metric, which captures the universities that offer the optimal combination of affordability and high earning potential.

These colleges should be avoided at all costs, as graduates do not earn enough after leaving school to make the price of the degree worth it.

Are online colleges accredited?

Many online colleges are accredited, but not all are. Before you send them a dime, this is something you definitely want to check using the Department of Education’s database.

Online colleges that don’t accept FAFSA

Some heavily advertised colleges do not accept FAFSA, as they are not officially accredited. While you may learn a thing or 2 from the courses they offer, you won’t emerge with an official degree.

Here are a few examples of colleges that don’t accept the FAFSA.

• Ashworth College
• Atlantic University
• Columbus University
• Hill University
• Penn Foster

Financial aid for online students

As an online student, you are eligible for the same financial aid as someone who goes to a brick-and-mortar, traditional college. Even better, there’s no age limit! You can get financial aid no matter where you are in life.

“Online students are eligible for the same financial aid as anyone else. Even better, there’s no age limit!”

To receive financial aid, you will need to submit a FAFSA form. This form asks you questions about your family’s financial situation and determines your level of need.

Based on your FAFSA, the government and the college you’re applying for will offer you financial aid, which can take several main forms:

Grants – This is free money that you don’t have to pay back. Grants are awarded based on need.

Scholarships – This is also free money, but it’s typically awarded for academic or athletic achievements, or for belonging to a certain group. Scholarships come from the government, the college, or other organizations (like NGOs, your local community, or even an employer). You will need to apply for many scholarships separately, outside of FAFSA.

Loans – Student loans from the federal government often have better terms than private loans from banks.

Final thoughts

Plenty of high-quality accredited online universities accept the FAFSA and offer financial aid to students with demonstrated need.

But even if an institution offers you financial aid, remember that not all online college degrees are created equal. Check out our list of the top online colleges in the country by value for money or browse our research on online degrees that pay well.

Also remember that an increasing number of traditional universities are providing online course offerings. Check what online degrees your state’s public universities or community colleges provide – these could be worth it, as public universities are generally a much better deal than expensive private and for-profit online universities.

See our list of the best national universities in the country to discover which colleges are offering the best returns on the investment you make in your education.