Many people today are nervous about returning to school with the economic conditions that seem to saturate the world's news. However, this is an ideal time to finish your degree, or even begin to pursue your dream of a college education--and if you are a single mother, not time is better than now. Why? Because there is more financial assistance for single mothers than ever before. Women all over are turning to federal grant and tax credit programs to help them get through college. These grants are even available for online degree programs.
Tax Credits
Although the Earned Income Credit has helped a lot of single mothers as head of the household, there are others that will help directly with education. One such credit is the American Opportunity Tax Credit program. This program is intended to cover the first $4,000 of a citizen's higher education, and is based on previous years' income instead of current or future.
You should also check tax credits for education at the state level. Some are even specially geared toward working women. For instance, there is a program in Indiana that helps day care workers get an education.
Grants
The Pell Grant is perhaps the most well-known federal grant program today. President Obama has expanded them especially for low income students, and will increase the maximum allowable grant to $5,100, up from $4,050. Eventually the president hopes to raise it to $5,400, which will be a great boost to single mothers.
