How Obama"s Government Grant Scholarship is Helping Moms Return to School and Save Money
While a high school education or less was all that was needed to earn a decent living and support a family, the increasing competition from other countries and economic recession means that an associate's degree or a bachelor's degree is now the bare minimum requirement to get a job.
Many people have lost their jobs and have no money to spend on a higher education.
Fortunately, the government is aware of the problem and has set up a program to help hard working American families get the step up they need to improve their lives.
Now is the perfect time to return to college.
While the economy is suffering, if you start your education today, you will be ready and ahead of the pack when the economy starts improving.
The workers who have the best credentials are going to be the first ones in demand and hired by companies eager to profit in a booming economy.
Under the new administration, there are several acts that have made it financially feasible for parents to return to university.
One of these acts is the American Opportunity Tax Credit which will subsidize the first $4000 of your post secondary education.
In addition to this, you will also have to fill out a FAFSA for financial aid when you register at your school.
While Federal Pell Grants are not new, Obama has recently passed a bill that increased the maximum grants given to lower income students.
Since this is a grant, the money is yours to keep and does not have to be repaid unlike federal student loans.
It is very important that you meet important filing deadlines for the FAFSA applications to qualify for the Pell Grant.
I would recommend getting your taxes completed as soon as possible and having your FAFSA submitted by February.
This way you are ahead of the other applicants and get first dibs at the available grants and funds available both at your school and at the federal level.