What Kind of Financial Aid Is Available for Single Moms?
Completing a college degree can be challenging not only to your intellect but your also to your wallet. For single moms who are struggling to provide financially for their families, finding the time and the money to attend college may seem impossible. There are several different types of financial assistance that can help single mothers achieve their educational goals without breaking the bank.
Other People Are Reading
-
Grant Programs
-
The federal government sponsors several grant programs that can help single mothers complete their education. The Pell Grant program is designed specifically to help low-income students who could not otherwise afford to go to college. According to the U.S. Department of Education, qualifying students could receive a maximum of $5,550 per academic year as of 2011. Additionally, the Federal Supplemental Educational Opportunity Grant can provide up to $4,000 per year in education funding for students with exceptional financial need. Single moms who plan to pursue a career in education can also apply for the TEACH Grant, which also provides up to $4,000 per year in college funding. Grants are awarded based on income and your estimated cost of attendance.
Scholarships
-
Scholarships for single mothers may be awarded on the basis of financial need, academic achievement, career goals, overcoming personal obstacles or a combination of these factors. Single moms may find scholarship funding through a number of sources. For example, Soroptimist sponsors the Women's Opportunity Award program, which provides education funding to women who are completing an undergraduate degree while also providing primary financial support for their families. Additionally, the Patsy Mink Education Foundation offers scholarship awards to low-income women who are raising children on their own. In 2011, the foundation provided five awards of $2,000 to deserving students.
-
Displaced Homemaker Programs
-
If you've recently become a single mother because of divorce or the death of a spouse, you may qualify for financial assistance through a displaced homemaker program. Generally, to qualify as a displaced homemaker you must have previously worked in the home providing care for your family, for which you did not receive compensation. You must have been dependent on the income of a spouse or other family member that is no longer available and you must currently be unemployed or under-employed. Depending on your state's guidelines, assistance received through the displaced homemaker program may be used to cover the cost of tuition, books, fees, transportation and child care while you're enrolled in school.
Student Loans
-
If grant or scholarship funding are not available or if they do not cover the full cost of your education, you may also consider applying for student loans. Your eligibility to receive federal loan funding is based on the information you provide in the Free Application for Federal Student Aid (FAFSA). Generally, the type and amount of loan funding you are eligible to receive is determined by your income and family size. Single moms may also consider private student loans, although these may carry higher interest rates than federal loans.
-
