As a single mother, you understand the difficulty it can be financially. You understand that college can put you on the right track to a better paying career, but because finances are tough, you feel you are left with no option but to leave it as a dream. But, for financing college, help for single mothers is out there. There are many different ways to make the dream become a reality; there are student loans, grants and scholarships available from private and corporate organizations, and the most popular being from the Federal and State Government.
It’s important to understand the different options you have. Below is a brief explanation of the options open to you, as well as links to other sources providing college help for single mothers.
1) Scholarships
There are many different types of scholarships to choose from. Some can be customizable to suit certain individuals needs. Scholarships are provided on a ‘financial needs’ basis, and can range anywhere from $100 up to $10,000. They are provided by private organizations and the Federal Government. You have to meet certain criteria to be eligible for a scholarship, the most common is having a low income, or high expenses due to looking after a family. The biggest advantage of a scholarship, is that the money you are rewarded doesn’t have to be repaid.
2) Grants
Grants work in a similar way scholarships. The biggest advantage is that the money you are rewarded doesn’t have to be repaid, and they are also provided on a ‘financial needs’ basis. They are issued mainly by the Federal Government, with the Federal Pell Grant and the Federal Supplemental Education Opportunity Grant (FSEOG) being the most popular. You do have to meet certain criteria in order to be eligible, such as having a low income, and having a high school degree or GED. You can be awarded once again anywhere in the region of $100 to $10,000.
3) Student Loans
Student loans are very different to grants and scholarships. The main advantage of a student loan is the flexibility, as you have full control over the amount you receive. However, the full amount, plus interest in some cases, has to be repaid after graduation. Student loans are also offered by most financial institutions, and in some cases can be funded by the Federal Government.
It’s essential that you complete a FAFSA before applying for any type of financial aid. A FAFSA, or a Free Application for Federal Student Aid, will help you identify the types of financial aid you’re entitled to. It’s important that you also speak with your financial aid officer at the college you wish to attend. But remember, for financing college, help for single mothers is out there.
