As well as scholarships for moms, tax benefits exist to curb the cost of going to school. According to the American Opportunity Tax Credit program, eligible students can earn a maximum annual credit of $2,500 per student with 40% of the credit generally refundable. That means a student could receive up to $1,000, even if he or she doesn't owe any taxes. Not to mention that last year around this time, President Obama increased funding for Pell grants and introduced a scholarship for moms called the Moms Return to School Government Grant Scholarship.
Even without scholarships for moms, instead of looking at getting a degree as a financial burden, mothers can look at it as an investment for their future and the future of their children. According to Raise the Nation, women with bachelor's degrees are five times less likely to find themselves in a dire financial state.
Scholarships for moms allow mothers to get a degree -- which means that these women will can eventually land in a higher paying career, get better benefits and have more opportunity for advancement.
A mother's endeavors will also set a good example for their kids: "My goal is to do my best so that my daughter can see that if mommy can do well in school, so can she," Ann Marie, a 25-year-old mother and wife of a soldier deployed in Iraq, told Salary.com last year.
To get started searching for scholarships for moms, check out the Free Education Guide and fill out a FAFSA form. The money is there, just waiting for you to claim it.
Helpful resources for scholarships for moms:
- Scholarships4Moms The deadline is July 30, 2010.
- Project Working Mom
- State-by-State Listing of Single Parent Scholarships
- Patsy Takemoto Mink Education Foundation for Low-Income Women and Children
- Single Mother Financial Aid
Resources that don't exclusively award scholarships for moms, but are worth looking into: