(ARA) –  In a competitive job market, earning a degree can be the biggest single step one can take to enhance career value and earning potential. As many bask in the glow of making plans to increase their career potential, the prospect of paying for college is a sobering reality.

Few of us have funds set aside for this endeavor. In addition, the College Board's annual "Trends in College Pricing" reports a rise in tuition costs at public and private institutions for the 2009-2010 school year. According to the report, annual tuition and fees at private four-year colleges rose 4.4 percent to $26,273, and public university costs rose 6.5 percent to $7,020.

Prospective students often don't know where to start. But take heart; Darlene Violet, director of Financial Aid at Brown Mackie College – Akron, Ohio,  offers advice on funding your education. "The U.S. Department of Education distributes $96 billion a year in grants, work-study assistance, and low-interest loans," Violet says. "Every student begins the process of seeking financial aid by completing the Free Application for Federal Student Aid form, known as the 'FAFSA.'" Information submitted on the FAFSA form determines the amount a student may receive through a federal Pell Grant, which is based on financial need. The recent economic stimulus program increased Pell Grant funds by $500 per student. Financial aid is available for those who qualify.

Beyond completing the FAFSA, many turn next to student loans. "An education is always a good investment," says Violet, "but many people don't realize the loans must be paid back starting six months after leaving school. I advise students to seek out and apply for scholarships." Wide varieties of organizations offer scholarships, from fraternities and sororities to community groups, foundations, and corporations. Winning candidates receive funds based on a vast spectrum of criteria, including ethnicity and cultural heritage. "Students just don't take the time to find them," Violet continued. "It can be a lot of work." Read this article »

Although bad economic news may make it seem like this is a bad time for single mothers to return to the classroom, that simply is not true. Women all over America are seeking the help of the federal government through educational grants and loans. Here are a few of those.

Pell Grants

These grants are about to be expanded for low income students. In fact, this was the first bill the president introduced in the beginning of his administration. It will bring the maximum allowable Pell grant from $4,050 to $5,100. President Obama is working hard to bring it up to $5,400. The extended Pell Grant is one of the best single mom’s government grants for college.

Tax Credit Programs

Single mothers should also consider educational tax credit. For instance, The American Opportunity Tax Credit program is designed to make sure that the first $4,000 of any American’s higher education is free. This program will accept the prior year’s tax return and will require 100 hours of community service in exchange for the advantage.

How Do I Get a Grant?

The first thing you have to do is choose a college, then fill out a federal FAFSA form. If you want to make sure you apply for all the scholarships and grants available to you as a single mother, you might want to check out scholarship services that will help match you to your ideal grant.

I Don’t Have Time for Traditional Classes–Are There Grants for Me?

You can still get Pell Grants and many others if you cannot attend classes in a traditional setting. Online colleges are also included in the federal aid programs. If you are in doubt, check with a scholarship matching program and see first what you qualify for, and next what kinds of programs it covers.

It may surprise you how much money is out there for you. Not only that, more funds may be available as time goes one. Keep your eye on the news for word of scholarship and grant advances from the Obama administration, and by all means get out there and start applying for your program of choice.