Financial Assistance For Single Parents To Return To School
Getting a degree is almost mandatory in order to lead a good life today. Unfortunately, this is a chance that many single parents feel they do not have. The costs that are involved with going to college in order to finish a degree program can be multiplied for a single parent due to costs associated with child care and decreased work hours. There are many forms of financial aid for single parents available however, which can enable them to not only return to school but be successful in gaining a degree and better way of life as well.
Government Financial Aid for Single Parents
The government has many financial aid opportunities that are open to single parents who qualify based on income. Single one parent homes are operating on one medium level income in most cases, single parents usually qualify for the full amount that these aid programs have to offer.
The Federal Pell Grant and other related grant programs offer funds that do not ever have to be repaid. This money is delivered to the school each year to pay for tuition and supplies, and any left over money are then disbursed to the student to use as they wish to help with their education. This single parent financial assistance option can easily offer single parents more than $5000 each year towards furthering their education.
Student Loans for Single Parents
Another helpful resource that can help a single parent continue to go to school in addition to grants, are student loans. This form of government assistance for single parents may have to be repaid, but the terms are flexible and well worth it in order to complete a degree.
These loans include Stafford loans which are available in both subsidized and unsubsidized amounts. The subsidized loans are offered to those with the greatest financial need, and the interest is paid by the government while the individual is in school. Unsubsidized loans do not have their interest paid while an individual is in school, but repayment does not begin until six months after the single parent has left school.
Single Parent Financial Assistance from Schools
Government financial assistance for school is not the only type of help that is available to single parents. Many schools and local organizations associated with the schools offer additional grants, loans, and scholarships to those who need the extra help to ensure an education. If you visit the financial aid office of your local school, they will be able to provide you with information about all of the different programs that are offered in your area.
The dream of a degree and a better way of life is not one that should be taken lightly. If you are a single parent thinking of returning to school, then you should know that plenty of financial assistance for single parents is available. From grants, to scholarships and loans, there are a wide variety of funds that can allow a single parent to earn the degree they have always dreamed of.