Financial Assistance for Single Mothers

Many people these days are afraid to return to school with the economic conditions making it difficult to get jobs. However, there really has never been a more ideal time to finish your degree, or even begin to pursue your dream of a college education–if you are a single mother. Why? Because there is more federal financial assistance available for single mothers than ever before. Women across the country are turning to federal grant and tax credit programs to help them get through college.

Federal Tax Credit

Even though the Earned Income Credit has helped a lot of single mothers, there are other programs that will help directly with education. One credit is the American Opportunity Tax Credit program. It is intended to cover the first $4,000 of a citizens higher education, and is calculated on your previous years income instead of current or future.

Be sure to also check tax credits for education at the state level. Some are even especially developed for working women. For instance, there is a program in Indiana that helps day care workers get further education.

Federal Grants

The Federal Pell Grant program is perhaps the most well-known today. President Obama recently increased them for low income students. Now the maximum allowable grant is $5,100, up from $4,050. Eventually the Obama hopes to raise it up to $5,400, which will be a great boost to single mothers.

I Must Go to School Online - Is There Assistance Available for Me?

If you have to work and take care of your family, you probably don’t have time for traditional classes. Do not despair–the Federal Pell Grant is for online college degrees as well as campus-based course work! Many of the other programs are also designed to include online college courses, which is an ideal program for single mothers.

Of course, there are a lot of financial assistance programs out there so this means money available for you. However, it also means it can be a time consuming task to find them–consider using a scholarship matching service. Many are free or very low cost, and can help you find money you would never have thought possible.

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