People all over America are feeling the financial crunch of a failing economy. For too many adults, this means putting off higher education for better times. You may not know this but there is no better time than now to start working toward that degree. With all of the financial aid options available today, a lack of funds is no longer a viable excuse for procrastination.

The first step to going back to school is to choose a course of study and a school. Many people don’t realize that most of the same financial aid options available for on-campus programs are also available for online degree programs and distance learning degrees.  Once you’ve done that, the admissions counselors will help you to explore all of your options for financial aid including federal and state grants, scholarships, and student loans.

Not sure how to apply for financial aid? No problem. Get online and fill out a Free Application for Student Aid, also known as a FAFSA. Your FAFSA application will apply you for any aid you are eligible for and have opted to use. You can get grants, loans, and some scholarships by filling out this one form. The website has a list of all of the information needed to completely fill out your FAFSA as well as worksheets to help you through the process. If you run into anything you don’t understand, the website has a FAQ section and provides excellent customer service through email or by calling their 800 number.

PELL grants should be any would-be student’s first option for financial aid. A PELL grant comes form the federal government. The great thing about these is that as long as you don’t drop out or fail, you don’t ever have to pay them back. The Pell Grant is sponsored by the US Department of Education, and the amount of funds you receive is based on your financial situation and needs. There are other grants available for specific minorities and professions that should be researched. Your first choice for financial aid should always be a grant as opposed to a loan. 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.

Thinking about pursuing your degree through distance learning?  Worried about how you will pay the tuition and any other costs involved? You may qualify for a scholarship, grant or other type of financial aid.  Distance education degrees are no different, in terms of funding, than on-campus degree programs.  Of course the online degree program must be accredited, but the same holds true for traditional degrees.

All of the traditional types of financial aid are available: Scholarships, grants, and student loans.  What are they and how do they work?

Scholarships:

Scholarships do not have to be repaid.  They are personalized forms of financial aid available for students with particular strengths in academic, artistic, or athletic fields. In addition, students from underrepresented minority groups or students in financial need may also be eligible to receive scholarships. 

Consult with the various schools with programs in which you have interest to determine if they offer scholarships for students in your situation.

Grants:

Grants do not have to be repaid.  Pell Grants are a type of educational grant that is often awarded to students by the Federal government. To receive a Pell Grant, students must meet certain qualifications that have been determined by the government.

Student Loans:

Student loans must be repaid.  There are several types of educational loans available from the Federal government. Two major categories of federal education loans are:

• Student loans (Stafford loans and Perkins loans)

Stafford loans are either subsidized or unsubsidized. Subsidized Stafford loans are awarded to students based on their financial need. Unsubsidized Stafford Loans are not based on financial need.
Perkins Loans are low-interest loans borrowed directly from your school with federal assistance.

• Parent loans (PLUS loans)

  PLUS loans are awarded to parents of students who qualify as dependents

To apply for any form of federal financial aid, you must complete the FAFSA (Free Application for Federal Student Aid.)  Do this as early as possible.

Students should complete the FAFSA on the Web worksheet prior to filling out the FAFSA; it will make the process go much more smoothly.

Want to go back to school and earn on online college degree?  Are you a single mom who doesn’t have sufficient funding to earn your degree?  If so, you will be glad to know that there is help out there for you!

There are free grants and scholarships for single mothers.  You just have to do your homework, and research the available funding sources.  Here is some advice as to how to find these opportunities if you are a single mom looking to improve your future:

1. Start with the school at which you are interested in obtaining your degree. Request information from more than one school, and ask if they have scholarship or grants for single mothers or women in general.  Contact the schools financial aid office.
2. Compile the necessary financial documentation (income tax returns, etc.). Check out the helpful list located at www.fafsa.ed.gov/before001.htm.
3. Complete the Free Application for Student Aid (FAFSA). This step opens the door for virtually all types of financial aid including the Pell Grant, Cal Grant, scholarships and low interest student loans.
4. Sometimes the best place to look for a college scholarship or grant is in your own backyard. Local groups, clubs, businesses, churches, and organizations are all potential sources for scholarships and grants. Usually, these types of scholarships are not widely publicized, so you may need to do more legwork to find them; however, that means fewer applicants and higher odds of winning.
5. Don’t be afraid to try a free scholarship matching service.  Schloarship matching services such as ScholarshipExperts or FastWeb.com are two examples of great online sources to help you find the financial aid you need.  You complete a questionnaire and they search their database of all scholarship and grant funding sources to match you with the ones for which you may qualify.  It can save you a lot of time.  FreeScholarshipGuide offers a guide that you can download for free, and FreeSchoarshipGuide offers a Bi-Annual $5000 Scholarship Contest

Remember, it’s never too late to continue your education.   Apply for grants and scholarships to make a brighter future for yourself and your children.