Financial Assistance for Single Mother

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.
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Need a College Degree - The Economic Stimulus Can Help You

In addition, the 2009 economic stimulus package increases the tuition tax credit to $2,500 and makes it 40 percent refundable. Due to this boon, families and individuals who don't make enough to have to pay income tax could still get as much as $1,000 in extra tuition help.

Computer expenses are now an allowable expense under 529 college savings plans - a big plus for online degree seekers!

The package spends an estimated $32 billion on higher education - so don't get left behind. Take advantage of the benefits offered to help you get ahead.

If you are currently unemployed, or think you may be out of a job soon, start improving your credentials now. You'll find better jobs with higher pay when you have your college degree in hand.

Find out more about what is available for you and get started earning your college degree.