Top 8 Ways Monetary Assistance Aids Unmarried Mothers In America
The fact is that it is never easy for unmarried mothers to get everything for their child. In short, it is a situation which calls for financial assistance. Presently, different types of monetary assistance are available to single mothers in the United States.
Grants
Grants basically are need-based funds. They can be given for educational as well as non educational purposes. Grants don’t have to be repaid and examples of non educational grants include:
- The peaChic Grant. This is given to single mothers who have a business idea or want to expand their business.
- The Rockefeller Family Fund. This is a good option for single mothers who want to improve their working experience.
Examples of educational grants include:
- The Federal Pell Grant. This can be used by unmarried mothers who are undergraduate students. The maximum amount that can be given depends on the length of course, enrolment status and the specific financial needs.
- The Federal Supplemental Educational Opportunity Grant. This grant is given directly to the student who needs special financial assistance.
- The 10k Scholarship for Working Adults. Unmarried mothers have to sign up for the website in order to receive the grant.
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Scholarships
Scholarships usually are given for educational purposes. Single mothers can complete their education with the help of scholarships offered by educational institutions and other employers.
Loans
Loans definitely are the last resort when it comes to monetary assistance. Unlike grants, single mothers have to repay the loans. a friendly reminder, you can settle your credit card debt by learning your options.
If single mothers have no other option for monetary assistance, they can go for loans that have the lowest interest rates.
How Monetary Assistance Helps Single Mothers
1. Single mothers can use monetary assistance to set up or expand their business. Since the usual scenario is that unmarried mothers are not supported by their family, starting a business will lead to more financial freedom and control.
2. Monetary assistance can be used as a helpful tool by single mothers to complete their education. This aid can really help in times of need.
3. Unmarried mothers can also get a shelter under the housing assistance program. They can rent single family units for less as the required funds are provided by the program itself.
4. Monetary assistance is also a great way for single mothers to make the most of their careers.
5. If unmarried mothers live in an area where there is no transportation, they can opt for car loans through the monetary assistance program. It is important that single mothers make their loan and credit card repayments on time so that they can get the lowest possible interest rates.
6. There are numerous monetary assistance programs that help unmarried mothers complete high school diplomas even when they are working. It is important that single mothers know which degree programs and diplomas will work for them.
7. Monetary assistance for unmarried mothers is not only available to young mothers. Even old and mature women can benefit from this program and earn a better living.
8. According to results published by U.S. Census, 6 out of every 10 children living only with their mother, live below the poverty line. Monetary assistance is one of the best ways unmarried mothers can tackle daily expenses as well as alleviate the standard of living.
In short, monetary assistance for unmarried mothers can help them compete at all levels. Not only mothers can make their lives better, they can make their kids more competent to become responsible members of the society.
About the Author
Rose has special interest in educating people, especially unmarried mothers about the benefits of financial assistance. She is also a financial expert and believes that you can settle your credit card debt by learning your options.
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