If you are one of the people that is intrigued by the prospect of going back to school, but do not have the cash to do so, you are in for a very big surprise. The federal government has been providing billions of dollars in stimulus money to corporations and now people that want to return to college. Here are several options that you may have to get free college financial aid to obtain your degree.
The recent revisions of the American Recovery and Reinvestment Act has allowed this stimulus bill to increase the amount that students get for the Pell Grant from $281 to $400 in later years. But this is just the beginning. Students with needs are going to receive thousands of extra dollars. Tax credit bills such as the Hope Scholarship give an additional $1650 tax credit, even on top of the Pell money that you will receive. If you are a mom that wants to return to college, and you have children, you may receive enough for a full ride through college.
So, where do you start? The best way to begin is to fill out your FAFSA forms online and then go to the ED site to see what financial aid is available to you. Depending on your major, you may find several online services that list grants to apply for. Take your time. Do not rush into getting a student loan until you have exhausted all of your possible resources to get free money for school.
My last tip to you is to look is the federal government’s stimulus package which has allocated twelve billion dollars in funding for students seeking a two year degree. If you are a single mother, the time is right for you to apply for this free college funding now.
Whatever your goal is, look for the free money first, and then, if you have to, get a loan and supplement that with a job. You can do this, but apply for grants and scholarships before making a very expensive, but very responsible, decision to go back to college and earn a degree. If you can, do it all with free college financial aid and in the long run, you will have less debt to pay.