Online university creates unique scholarship program

Online university creates unique scholarship program

Due to an unstable economy, many Americans may feel that higher education is an irresponsible investment. However, many unique tuition assistance opportunities exist for those who demonstrate academic potential or financial need.

For example, Western Governors University (WGU) recently held a scholarship competition that challenged potential students to create a commercial for the school. The university recently announced the winner of the Make a Great WGU Commercial Video Contest, who will receive a scholarship in the amount of $7,500 and a $500 cash prize. The second-place winner will be awarded a $3,000 scholarship and a cash prize as well.

School officials report that more than 50 videos were submitted to the contest and posted on the school's website. A total of 10 finalists were chosen based on the number of votes each video received from visitors to the site.

Many online universities offer financial aid opportunities to students who demonstrate a need for financial aid. In addition, web-based degree programs also boast lower tuition costs than their campus-based counterparts. For example, tuition for most WGU undergraduate and graduate programs is less than $6,000 per year, which is significantly lower than most traditional institutions.

According to Sallie Mae, a provider of student loans, more then $168 billion in financial aid was available during the 2008-2009 academic year.

By Mark Danson