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According to the National Center for Children in Poverty (NCCP), children who live in single parent families are twice as likely to live in a low-income household as children in two-parent households. Furthermore, the NCCP website states that “Low education levels of parents is an important contributor to low family income. Nationally, over 80 percent of families headed by a parent who lacks a high school degree are low-income, compared to 54 percent of families headed by a high school graduate, and just 22 percent of families headed by a parent who received at least some college education.” While single parents may want to take advantage of earning an online college degree, many aren’t aware of the financial aid options available to fund their education.
For single parents, earning a college degree has intrinsic value. It’s about more than the sense of accomplishment; it’s about what that accomplishment can do for their families. By extending more educational opportunities to single parents, colleges can serve as a stepping stone to success and parents can provide more financial security to their children.
For single moms and dads who are ready to pursue an online college degree, here are 5 options they can use to pay for higher education:
1. The U.S. Department of Education. The U.S. Department of education provides more than $80 billion in grants, loans, and work study programs to students each year. Because they determine eligibility based on income, family size, and the expected family contribution toward education costs, many single parents qualify for aid. They can apply online at www.fafsa.edu.gov.
2. College Board. The College Board searches more than 2,300 sources of college aid and matches students with nearly $3 billion of college funding each year. There are scholarships available for single parents, so it’s worth your time to check it out: http://apps.collegeboard.com/cbsearch_ss/welcome.jsp.
3. College Financial Aid Office. Individual colleges can direct you toward state-based financial aid awards as well as scholarships offered within the college. Even if you’ve been out of high school for 10 or more years, you may qualify for scholarships based on your high school grade point average. Contact your college’s Financial Aid Office and Scholarship Office for more details.
4. Employer Reimbursement Plans. Talk to your employer and ask if the company offers reimbursement for college courses. Many people are unaware that their company offers this type of stipend, so visit your Human Resources Department for details.
5. The Debt-Free College Guide. This isn’t a source for giving away money, but it can help you find funding resources. It provides state-by-state resources as well as “other innovative ways” to fund your college education.
Now, more than any other time in history, single parents can fund their college educations. With the advent of accredited online college degree programs and a myriad of financial aid options available, parents can earn a college degree, earn more money, and step out of poverty and into a comfortable lifestyle.
