Economic Stimulus Plan

These days many people are nervous about returning to school due to the poor economic conditions. However, this is a great time to finish your degree, or even pursue your dream of a college education–and if you are a single mother, no time is better than now. Why? Because there is more financial aid available for single mothers than ever before. Women all over the US are using federal grants and tax credit programs to help get them through college.

Tax Credits

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.

Also look for check tax credits for education at the state level. Some are that have been especially designed to help working women. For instance, there is a program in Indiana that assists day care workers get an education.

Grants

The Pell Grant program is perhaps the most well-known federal grant. The Obama administration has increased them for low income students, and will expand the maximum allowable grant to $5,100, up from $4,050. Soon the president hopes to increase it to $5,400, which will be a boon to single mothers.

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

If you working or single mother, you are probably not going to have time for traditional classes. Do not worry–the Pell Grant program is for online degrees as well as traditional campus schools! Many of the other financial aid programs are also designed to include online courses, which is an great 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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