A business degree can help students develop knowledge in areas such as management, accounting, marketing, and professional communication. Whether your goals involve continuing your education, exploring a new field, or building skills for your current work, planning how to pay for school is an important part of the decision.
There are several potential sources of assistance for business administration students. This guide focuses primarily on undergraduate business programs, including associate and bachelor’s degrees. MBA and other graduate programs have different federal aid rules. The options available depend on the school, the specific program, your enrollment, and your individual eligibility—not simply on choosing a business major. [6] [9] [14]
Quick Takeaways
- Complete the FAFSA® for each award year in which you seek federal student aid. Submitting the form does not guarantee an award.
- Grants and scholarships generally do not require repayment, work-study is earned through employment, and loans must be repaid under their terms. Scholarships are not automatically federal aid programs.
- Check the funding available for your particular program. Campus’s Associate of Arts in Business Administration, including all concentrations, has a $0 Federal Direct Loan borrowing limit. Employer assistance may be another option for eligible employees. [1] [18] [21] [23]
The First Step: Filling Out the FAFSA®
The first step in applying for federal student aid is completing the Free Application for Federal Student Aid (FAFSA®). It is free to submit. The U.S. Department of Education and the schools you list use the information to evaluate federal aid eligibility; states, colleges, and some other aid providers also use FAFSA information for their programs. [1] [5]
For the online form, each required contributor needs a separate StudentAid.gov account and must complete the applicable information, consent and approval, and signature requirements. Depending on your circumstances, contributors may include you, a spouse, a parent, or a parent’s spouse. Being a contributor does not, by itself, obligate someone to pay your college expenses. [1]
Submit the FAFSA for each applicable award year, not each term. The online 2027–28 FAFSA became available to the general public on September 23, 2026. The federal submission deadline is June 30, 2028. For students seeking aid for the current 2026–27 award year, the federal deadline is June 30, 2027. State and school deadlines may be much earlier. [2] [3] [4]
Apply early, especially for programs with limited funds or priority deadlines. Do not assume that every federal program operates on a first-come, first-served basis. After processing, review your FAFSA Submission Summary and respond to any requests from your school. The summary is not an aid offer; the school provides its offer after admission and the necessary eligibility review. [4] [5]
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Types of Financial Aid
Business students may encounter grants, scholarships, Federal Work-Study, and loans. The main federal student aid categories discussed here are grants, work-study, and Direct Loans. Scholarships may come from schools, states, employers, foundations, or other organizations and often have separate applications. A college’s participation in federal aid does not mean every program or student qualifies for every type of aid. [4] [6] [12]
Grants
Grants help eligible students pay educational expenses and generally do not need to be repaid. However, withdrawing, receiving an overpayment, or failing to satisfy an award’s conditions can require an adjustment or return of funds. A school-account balance after an aid adjustment is not necessarily the same as a federal grant debt owed directly by the student. Ask the financial aid office to explain any repayment notice. [7] [10]
Federal grants have program-specific rules. Two that may be relevant to eligible undergraduate business students are Federal Pell Grants and Federal Supplemental Educational Opportunity Grants. [9] [11]
Pell Grants
Pell Grants are generally available to eligible undergraduate students who have not earned a bachelor’s, graduate, or professional degree. Limited exceptions exist, but ordinary MBA or other graduate business enrollment is not Pell-eligible. Completing an associate degree does not, by itself, prevent a student from receiving Pell for a subsequent eligible undergraduate program. [9]
For the 2026–27 award year, the published maximum scheduled Pell Grant award is $7,395 and the minimum scheduled award is $740. These are not guaranteed payments. A student’s actual award can be adjusted for enrollment intensity and length of attendance; a prorated payment may be less than the published minimum scheduled amount. [8]
Eligibility is determined under federal rules using FAFSA information and the applicable Pell calculation. Relevant factors can include family size, tax-filing status, federal poverty guidelines, the Student Aid Index (SAI), and cost of attendance. The SAI is an eligibility index—not a college bill or guaranteed aid amount. [8] [5]
Pell eligibility is generally limited to 12 semesters or the equivalent. Some eligible students attending additional terms can receive up to 150% of their scheduled award within an award year. Reapply through the FAFSA each year and ask the school about remaining eligibility. The 2026–27 dollar amounts should not be assumed to apply to 2027–28; check the Department’s announcement for that award year. A Pell award may not cover all educational expenses. [8] [10]
FSEOG Grants
The Federal Supplemental Educational Opportunity Grant (FSEOG) serves eligible undergraduate students with exceptional financial need at participating schools. Awards normally range from $100 to $4,000 for an academic year, subject to applicable rules, attendance, need, and funding. [11]
FSEOG is not simply a first-come, first-served grant. Schools first give priority to students with the lowest SAIs who will also receive Pell Grants. If funds remain after that group is served, schools may consider eligible students with the lowest SAIs who are not receiving Pell. Institutional allocations are limited, so not every eligible applicant receives an award. [11]
Complete the FAFSA for the applicable award year and ask your financial aid office about its selection process and deadlines. Applying does not guarantee an award or a particular amount. [11]
Scholarships
Scholarships generally do not require repayment when the recipient meets the award’s conditions. Schools may offer need-based or merit-based scholarships, but awards can also depend on field of study, community service, leadership, employment, personal background, or other provider-defined criteria. [12]
Your business school is not the only place to look. Community organizations, chambers of commerce, nonprofit organizations, professional associations, employers, and private foundations may offer scholarships. Contact the provider directly to confirm current eligibility, deadlines, required essays or documents, permitted expenses, and renewal conditions. The FAFSA is not a substitute for every scholarship application. [12]
Tell your school about outside scholarships and other educational assistance. The school may need to adjust your overall aid offer under the rules for the programs involved. Beginning with 2026–27, nonfederal grants and scholarships that equal or exceed a student’s cost of attendance make the student ineligible for a Pell Grant for that award year. Ask Financial Aid how these rules apply to your awards rather than assuming all funding can simply be added together. [7] [13]
Federal Loans
Federal Direct Loans are borrowed funds, not grants. Before relying on them, confirm that your school and specific business program make them available and that you meet the applicable requirements. Completing the FAFSA alone does not establish eligibility or mean you must borrow. [6] [14]
Borrowers must repay loans according to their terms, including applicable interest and fees, unless they qualify for an authorized discharge or forgiveness provision. Review the costs and repayment obligations before accepting a loan. [17]
Federal Direct Loans
Direct Subsidized and Direct Unsubsidized Loans are the principal Direct Loan types borrowed by undergraduate students. They generally require enrollment at least half time in an eligible program. Subsidized Loans require financial need; Unsubsidized Loans do not. Neither requires a credit check or cosigner. [14]
The school determines the amount available within applicable annual and aggregate limits, cost of attendance, other assistance, prior borrowing, and institutional restrictions. Grade level, dependency status, and enrollment can also affect the amount. Beginning July 1, 2026, annual loan limits are reduced for less-than-full-time enrollment in affected programs; ask your school how the rules apply to your schedule. [15]
Direct Subsidized Loans: The federal government generally pays the interest while the student is enrolled at least half time, during the applicable six-month grace period, and during qualifying deferments. A historical exception applies to the grace-period interest on loans first disbursed from July 1, 2012, through June 30, 2014. [14] [17]
Direct Unsubsidized Loans: Interest starts accruing when funds are disbursed, including while the student is in school and during the grace period. The borrower is responsible for this interest. [14] [17]
For both loan types, the initial six-month grace period generally begins after graduation, leaving school, or dropping below half-time enrollment. A loan whose grace period has already been exhausted does not automatically receive a new one. You may decline a loan or accept less than the amount offered. [14] [17]
Parent PLUS Loans
Parent PLUS Loans are borrowed by an eligible parent for a dependent undergraduate student enrolled at least half time. Eligible borrowers include biological and adoptive parents and, in certain circumstances, stepparents. A guardian or grandparent does not qualify merely because they raised the student; legal adoption can establish the qualifying parent relationship. The parent—not the student—is responsible for repayment. [16] [24]
Applicants undergo an adverse-credit-history review and must meet the other federal requirements. Some applicants with adverse credit may qualify through an eligible endorser or documented extenuating circumstances and required PLUS counseling. Approval is not automatic. PLUS Loans carry interest and a loan fee. [16] [17]
For periods of enrollment beginning on or after July 1, 2026, Parent PLUS borrowing is generally capped at $20,000 per academic year and $65,000 in total for each dependent student, combined across all parents. Cost of attendance and other aid may further reduce eligibility. A limited exception applies to certain continuing students with qualifying enrollment and prior borrowing. Ask the school to determine whether that exception applies before relying on an amount. [15]
These federal limits do not override Campus’s separate $0 Direct Loan limit for its Business Administration program. [23]
Work-Study
Federal Work-Study (FWS) provides opportunities for eligible undergraduate, graduate, and professional students with financial need to earn wages through approved part-time employment. Not every school participates. At a participating school, receiving an FWS amount in an aid offer does not guarantee a position, work hours, or receipt of the full amount. [18] [19]
Complete the FAFSA, tell the school’s financial aid office that you are interested, and follow its selection and hiring procedures. Do not assume that submitting the FAFSA automatically applies you for a job. Funding and jobs are limited, and the school uses its own process within federal requirements—not a universal first-come, first-served rule. [18] [19]
FWS jobs may be on campus or with approved off-campus public agencies, nonprofit organizations, and, under specific conditions, private for-profit employers. Private for-profit FWS work must be relevant to the student’s course of study. Ask about positions compatible with your location and schedule, especially if you attend online. [19]
Undergraduate FWS workers are paid for hours worked, at least monthly and at no less than the applicable federal, state, or local minimum wage. The approved award amount, wage rate, academic workload, and continued eligibility limit how much work can be supported. There is no universal federal 10- or 20-hour weekly limit. [19]
Earned wages are generally paid to the student, not automatically credited against tuition. With the required authorization, the school may apply earnings to eligible charges. FWS is not upfront funding for a bill that is due before you have worked, and properly earned wages are not a loan to repay. [18] [19]
Participating schools generally must use at least 7% of their FWS allocation for community-service employment and employ at least one qualifying reading tutor or family-literacy worker, unless the Department approves a waiver. This is an institutional requirement, not a promise that a particular job will be available. [19]
State Financial Aid Programs
State agencies may offer grants, scholarships, or other assistance. Use the National Association of Student Financial Aid Administrators (NASFAA) state-aid directory to locate the appropriate agency, then confirm the current rules directly with that agency. [20]
Eligibility can depend on residency, financial or academic criteria, the school’s location and participation, the program, and enrollment level. Living in a state does not automatically make its aid available at an out-of-state or online college. Some programs use FAFSA information; others require a separate application or additional records. [20] [4]
State deadlines may precede the federal FAFSA deadline. Check whether awards are renewable, whether a new application is required each year, and which enrollment or academic standards apply. Do not assume that an award continues automatically or transfers to a different school. [4] [20]
Employer Tuition Assistance Programs
Some employers provide tuition assistance or reimbursement to eligible employees. Under a qualifying written educational-assistance program, up to $5,250 per employee in calendar year 2026 may be excluded from federal taxable income. This is a tax exclusion, not a guaranteed employer payment. The limit is subject to inflation adjustments for years after 2026. [21]
Eligible assistance can include tuition, fees, books, and certain supplies or equipment. Meals, lodging, transportation, and equipment the employee keeps, such as a laptop, generally do not qualify under this exclusion. Undergraduate and graduate coursework can qualify; federal Section 127 rules do not require the courses to be related to the employee’s current job, although an employer may set narrower participation rules. [21] [22]
Payment timing varies. An employer may pay the school in advance or reimburse the employee after a course is completed; reimbursement does not universally require graduation or completion of an entire program. Before enrolling, ask Human Resources about preapproval, eligible schools and programs, required grades, payment timing, and any obligation to remain employed or repay benefits after leaving. Follow the written plan’s terms. [21] [22]
Section 127 assistance is for the employee’s own education, not automatically for a spouse or dependent. The exclusion limit combines qualifying tuition assistance and eligible employer student-loan payments. Expenses covered by tax-free assistance generally cannot also support an education tax credit. Tell Financial Aid about the benefit and consult current IRS guidance or a tax professional about your circumstances. [21] [22] [7]
Campus: Helping Students Understand Their Financial Aid Options
Campus is a new kind of college, and our Financial Aid team helps current and prospective students understand the FAFSA process, available funding sources, individual aid offers, and institutional requirements. Ask about assistance for your specific business program rather than assuming that every funding source described in this article is available. [23]
The current Campus Catalog describes limited institutional grants and scholarships for eligible admitted students, subject to award conditions and available funds. Those awards are not automatic. Review the Catalog and individual scholarship and grant disclosures before making an enrollment or funding decision. [23]
For Campus’s Associate of Arts in Business Administration, including all concentrations, the Federal Direct Loan limit is $0. That restriction does not cancel existing loans, cover all tuition or living expenses, or guarantee graduation without debt. Work with Financial Aid to understand any remaining costs and the funding sources for which you may qualify. [23]
For financial aid questions, contact FinancialAid@campus.edu. For billing statements, account balances, or payment-processing questions, contact studentaccounts@campus.edu. [23]
Disclaimer
This article provides general educational information, not an individual financial aid determination or financial, legal, or tax advice. Requirements, award amounts, deadlines, and procedures may change. Consult Federal Student Aid, the current Campus Catalog, your school’s financial aid office, state agencies, scholarship providers, and employer benefit documents for information applicable to your circumstances.
Financial aid is available to those who qualify. Eligibility is determined through the FAFSA® and other applicable requirements. Awards vary based on financial need, program, enrollment status, prior aid history, available funding, and federal, state, and institutional rules. Campus does not guarantee aid eligibility, scholarship selection, award amounts, work-study employment, loan approval, or debt-free outcomes. Grants and scholarships can be subject to adjustment or return; loans must be repaid under their terms; and work-study wages must be earned. Completing a business program does not guarantee employment, salary, or career advancement.
Sources
1. Federal Student Aid: How to Fill Out the FAFSA® Form
2. Federal Student Aid: 2027–28 FAFSA Beta Testing Plan, September 23, 2026 public-launch update
3. Federal Student Aid: 2026–27 FAFSA® Form, application deadlines
4. Federal Student Aid: 2027–28 FAFSA® Form, application deadlines
5. Federal Student Aid: What Happens After You Submit the FAFSA® Form?
7. 2026–27 Federal Student Aid Handbook: Overawards and Overpayments
9. 2026–27 Federal Student Aid Handbook: Student Eligibility for Pell Grants
10. Federal Student Aid: Don’t Miss Out on Federal Pell Grants
11. 2026–27 Federal Student Aid Handbook: The Federal Supplemental Educational Opportunity Grant Program
12. Federal Student Aid: Scholarship Tips
14. Federal Student Aid: Direct Subsidized Loans vs. Direct Unsubsidized Loans
15. 34 CFR § 685.203: Direct Loan limits, including Parent PLUS and program-level limits
16. 34 CFR § 685.200: Borrower eligibility, including Parent PLUS requirements
17. 34 CFR § 685.207: Repayment obligations, grace periods, and interest
18. Federal Student Aid: 8 Things You Should Know About Federal Work-Study
19. 2026–27 Federal Student Aid Handbook: The Federal Work-Study Program
20. National Association of Student Financial Aid Administrators: State Financial Aid Programs directory
21. Internal Revenue Service: Updated Educational Assistance Program FAQs, FS-2026-10
22. Internal Revenue Service: Publication 970, Tax Benefits for Education, Chapter 10
24. 34 CFR § 668.2: Definition of parent for federal student aid