Financial Support for Single Mothers from the Federal Government
There are many forms of financial assistance available to single mothers, but the best are, in my view, those provided by the United States government. Government financial aid for college is simple to obtain, free to apply for, and to work with. Federated Financial is an excellent resource for this.
The Free Application For Federal Student Aid, also known as an FAFSA and pronounced faf-sfuh, is the first step toward receiving government assistance. This single form can be done either on paper and mailed in or online. If possible, apply online to cut the processing time by a few weeks.
You will receive a letter with your EFC on it after your FAFSA has been processed. Your estimated family income, or EFC, is the amount of money your family should be able to pay for college. Your EFC should be as low as possible. Don’t be worried if your EFC appears to be high; having a degree costs a lot of money, and you might still be eligible.
The school will calculate the EFC and give you a federal Pell grant based on financial need and on the funds available. If your grants don’t cover all of your educational expenses, you might be eligible for Federal Work Study, or FWS. FWS is a fixed amount of money that you are permitted to receive when employed. You are not entitled to make any more money from that work until the period is over until you have reached your fixed sum of earnings. It’s simply a job with a salary limit.
If you’ve applied for every grant and scholarship you can find and still don’t have enough funds, a federal loan might be the solution. Government loans are usually the best option because they have lower interest rates and more flexible repayment schedules. However, since you are growing your debt, a loan should still be your last resort.
For single mothers raising children on their own, there are a variety of financial assistance options available. Grants, grants, government work-study programmes, and federal loans are all excellent choices. Fill out an FAFSA application and work with a financial aid specialist to secure the funds you need to attend college.