Obama College Grants For Single Moms
Research shows that having a college degree can enable a person to earn five times more than a non-degreed individual. But with the average cost of college education is on the rise, few students are able to foot the bill for a college education. Let alone single parents who are struggling to ‘make ends meet’.
Under Obama’s initiative, colleges would consider a person’s current financial situation to make it possible for them to receive Federal student aid such as the Pell Grants, which are available for low-income students and single mothers.
College grants are awarded to eligible students on the basis of financial hardship which do not require any repayment, lifting a huge financial burden from single mothers who wish to go back to school. This program enables single moms to obtain a grant of up to $5000 from the Federal government which can be used to pay for their college expenses i.e. tuition, books, and supplies.
In addition, the stimulus package increase in 2010 raised the Federal Pell Grant to $5,550 per year. Eligible single mothers may apply for this grant and if they qualify, this free money does not need to be repaid in any way.
To apply for the scholarship or Pell Grant, you need to complete the Free Application for Federal Student Aid, also known as the FAFSA. This form can be completed online or a paper form can be requested via mail or picked up at a local higher education institution. You should have prior tax year information and identifying documents on hand to use when completing the document.
Though the dateline for FAFSA submission is June 30, it is highly recommended that you submit your application as early as possible; as most federal student aid is given out on a first-come, first-serve basis. Do your diligent research, pay attention to the details and make sure that you’re familiarize with the Pell grant eligibility requirements.
Even if you are ineligible for the Pell grant, you may apply for federal student loans to help pay for your college education. Unlike most private loans, these federally-funded loans come with lower interest rates & better repayment plans. The 2 most popular types of federal loans are Stafford and Perkins Loans, both of which are available to single parents who need financial help paying for college – regardless of income level or credit history.
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