How to Fund Your Education

Single mothers face several challenges and barriers when faced with the concept of returning to school to finish their education. Those that are in paid employment may have to cope with a reduced income to allow time for study. Who will watch the children while they are attending class presents another possible obstacle. Finally there is one of the largest barriers, how will they pay the thousands of dollars in tuition costs and fees. Well recently there has been some good news regarding funding education for single mothers.

President Barrack Obama has announced several initiatives to get mothers, both single and other back into school. The objective is this program is to strengthen the economic strength of the country by allowing people to update their skills. Although the current economic crisis is showing signs of waning, the country will not likely realize a full recovery for quite some time. Statistics do show that even is harsh economic times. Those that are educated tend to do better in terms of employment stability and success. Taking into account that the most neglected demographic of society over the past few decades has been the American mother, hence we have Obama’s plan and the possibility for funding education for single mothers.

There are several components to the plan. One of the most influential is a government grant made available for mothers who wish to return to education. This grant has been made available for those that attend traditional college classroom programs and also for those that choose an accredited online degree course. Funding the online option will open many doors for stay at home moms that can now receive their education while at home, reducing the need for child care and negating the commuting costs. Up to $10,000 in scholarship money can be awarded to mothers that wish to finish their education. (Men can also qualify for this funding.)

Another component is the increase of the Pell Grant. Previously the Pell grant stood at $4050 but has been increased to $5100. There are also signs that the grant may be increased again before the year is done. The Pell Grant, which was aimed at the poorer, socio-economic strata, allows many the opportunity for advancing their education without the thousands of dollars of debt that student loans leaves one with. The Pell Grant is essentially free money from the government to study and does not need to be paid back.

Finally, to help balance the costs of child care, travel, books and other expenses one can acquire while, studying the government has introduced a tax credit. Those that return to school can exempt $4000 of their federal income tax under school expenses.

Despite the doom and gloom of the recent economic crisis there is not adequate funding of education for single mothers. With the combination of grants and tax credits, several stay at home and working single mothers can now fulfill their life’s ambition of completing their education. Where returning to school once required extreme sacrifice, now the road has become far easier.