These days many people are nervous about returning to school due to the poor economic conditions. However, this is a great time to finish your degree, or even pursue your dream of a college education–and if you are a single mother, no time is better than now. Why? Because there is more financial assistance available for single mothers than ever before. Women all over the US are using federal grants and tax credit programs to help get them through college.

Tax Credits

Even though the Earned Income Credit has helped a lot of single mothers, there are other programs that will help directly with education. One credit is the American Opportunity Tax Credit program. It is intended to cover the first $4,000 of a citizens higher education, and is calculated on your previous years income instead of current or future.

In addition, look for check tax credits for education at the state level. Some state tax credits are even specially geared toward working women. For example, there is a program in Indiana that helps day care workers get an education.

Government Grants

The Pell Grant program is perhaps the most well-known federal grant. The Obama administration has increased them for low income students, and will expand the maximum allowable grant to $5,100, up from $4,050. Soon the president hopes to increase it to $5,400, which will be a boon to single mothers.

I Must Go to School Online – Is There Assistance Available for Me?

If you have to work and take care of your family, you probably don’t have time for traditional classes. Do not despair–the Federal Pell Grant is for online degrees as well as campus-based course work! Many of the other programs are also designed to include online courses, which is an ideal program for single mothers.

There are many programs out there so this means there is a lot of money available for you. You just have to find it–consider using a scholarship matching service. Many of these services are free or very low cost, and they can help you find money you would never have found yourself.