Financial Assistance For College-Bound Single Parents

There are well over 13 million single parents living in the United States today, many of them foregoing educational opportunities in order to raise their children. With over 26% of children under the age of 21 being reared by single parents, it's obvious that the single parent has many responsibilities. Single parents may experience financial struggles, and much of their income goes towards providing for their children. Fortunately, there is funding available to help single parents acquire the education they need to improve their lifestyles and better support their families.

Why should a single parent return to school if it may be a hardship? On average, a college graduate earns a million dollars more over the course of a lifetime than does a high school graduate. An educated single parent will have more career opportunities, a larger income, and better resources to help his or her children.

Home First Aid

Sometimes, even if a student retains employment while attending college courses, the cost of higher education is prohibitive to the single parent. Grants for these parents will bridge the gap between personal income and the cost of a college degree. The first thing a candidate should do is fill out a FAFSA application, which is available on January 1st each year. This is a free application for federal aid. Awards are based on a family's income, so parents usually have a good chance of receiving some assistance.

Federal Pell Grants are granted to financially-needy students in the amount of up to ,000 per year. A grant is money that does not have to be paid back. The earlier you apply for federal assistance, the better chance you have of receiving a Pell Grant, as they are awarded on a first-come, first-serve basis.

Many institutions of higher learning have their own grants and scholarships that they award to single parents in need of financial assistance. Visit the financial aid office of your prospective college to see what options are available in the way of funding. You'd be surprised how many colleges have special funds to encourage parents to return to school.

Grants and scholarships are often also available from organizations, businesses, and individuals. Scholarship databases can help match you up for opportunities that fit your profile. There is something for everyone in the way of scholarships, though it may take some time to locate and apply for as many opportunities as you can.

When it comes to seeking out funds, leave no stone unturned. Your place of work may offer scholarships to employees returning to school; many larger companies do. Ask your HR representative for advice about obtaining company assistance in returning to school. As another example, individuals who have a close family member in the military are often eligible for military scholarships. There are many such opportunities for those who look.

Financial Assistance For College-Bound Single Parents