June 6, 2011 | pritter | 3 Comments The Financial Aid Guide Moms Need to Go Back to College Many women are going or want to go to school online in order to enhance their education and to provide additional income or security for their families. However, some are having trouble making ends meet. The cost of tuition, fees, and materials can add up. One way we have found to reduce those costs is to identify resources that will provide college aid and help with school expenses. Since we know moms are busy, we thought we would save you the time and trouble of doing the research on your own. Here is a free financial aid for moms guide that helps point you in the right direction depending on your situation: It’s called the Financial Aid Guide for Moms, and you can download it, here. Guide Overview Need help paying for school but don’t have time to figure it out? We can help. Below is an overview of some of the topics our guide can help you with. Click here to download the full version with links and great resources to help you get started. How Do I Pay for College? Grants, scholarships, and loans all may be available to women enrolling in college. Lucky for you, these resources are only a few keystrokes away. Grants Federal and State grants are financial assistance monies that do not need to be paid back. This guide provides links to find out the qualifications for grants. Federal Loans Loans are funds that help put you through school but need to be paid back after graduation. Loan Conditions and Planning Federal and state grants, as well as scholarships, are “free” money. They don’t need to be repaid by the student. However, loans are another matter entirely. Federal and state-sponsored loan programs have a variety of repayment terms and conditions. Some loans require payment of just the interest during the student’s time in school, with repayment of the principle to commence upon graduation. It’s important for moms to read all the fine print about repayment conditions, especially if they might have to terminate classes before graduation. Go to Maintaining Eligibility for federal financial aidto learn more. To calculate how much money will have to be repaid for student loans, use a calculator to run your numbers. Scholarships Scholarships are funds given for academic excellence, athletic skill or other unique personal characteristics. Download the Financial Aid for Moms Guide for a List. Get started applying for Federal and State grants and scholarships Most schools require new enrolling students have their financial support already in order. If a mom wants to receive a grant or scholarship, she must file a Free Application for Federal Student Aid (FAFSA). Moms can go to fafsa.ed.gov and find the forms, filing requirements, and other valuable information regarding Federal Student Aid available to moms. Most state scholarships are distributed through the schools, but they frequently require the FAFSA forms and supporting documents to begin the process. Student Tax Deductions The costs for tuition, loan interest, books and other expenses are tax deductible for most students and there are other credits available. The American Opportunity Credit is worth up to $2,500 and the Lifetime Learning Credit can be worth $2,000 for students. Learn more about tax deduction savings. Saving Credits… Saves Money Most online colleges and universities accept prior class work done at accredited colleges, as long as it is part of the degree being pursued. They also grant credit hours for Advanced Placement (AP) classes taken in high school as well as any other college classes taken in high school or from a local community college during high school. Moms can use the College Level Examination Program (CLEP) for receiving credit hours toward graduation. Moms, now is the time to go to school With all the advantages and resources available to moms, now is the perfect time to start looking at colleges, degrees, schedules, and financial aid. The application and admissions process is much easier when it’s done online and by telephone. Modern technology has made the entire online learning experience much easier and more accessible than it has ever been for moms pursuing a degree. All Moms need to do is get started!