Grants are financial assistance, based on financial need, which you do not have to pay back. This funding is available to use for your tuition and books. There are various grants available for single parents. Most common are Federal Pell Grants and the Federal Supplemental Educational Opportunity Grant (FSEOG), awarded to applicants that completed their FAFSA and demonstrated a financial need. To be eligible for a Federal Pell Grant, the undergraduate student cannot have already received a bachelor's degree prior. FSEOG is an additional grant for Pell Grant recipients with the lowest expected financial contribution (EFC). The EFC is the amount you are expected to financially contribute to your education. This is determined from the information that you provided on your FAFSA form.
Scholarship providers identify the difficulty involved in returning to school as a single parent. Therefore, there are many scholarships to assist you financially. The majority of these scholarships are for low-income single mothers. There is often an application process, which requires an essay; you may have to write about your experience as single mother. In addition, some of these scholarships require an excellent grade point average and letters of recommendations.
Federal student loans are available to all college students. Eligibility requirements are not based on income; instead, to be eligible, you must be enrolled in college at least half-time status. Stafford loans are the most common for single parents. These loans are subsidized and unsubsidized and can be used for any costs relating to your education. Subsidized loans do not accrue interest while you are in school. Unsubsidized loans does accrue interest, however these loans offer a higher maximum borrowing limit. They are also good options because of the low interest rates and six-month grace period after graduation to begin paying the loan off. It is important to remember that these loans are only for costs related to your education, not for car payments or cell phone payments. You should also only borrow the minimum needed because you will be responsible to pay back this loan.
Work-Study is part-time employment obtained on or off campus. You will have a regular work schedule and are paid minimum wage. When you complete your FAFSA form, there is a question that asks if you want to be considered for work study. Eligibility requirements are determined by EFC; if eligible, an employment list is available at your financial aid office. You may have to complete an application and compete for the job. Your availability, qualifications and major determine the decision to hire.