8 Ways Moms Can Afford Going Back to School

With the high cost of college and childcare, as well as potential work responsibilities, moms who want to go back to school might feel like the odds are stacked against them.

However, there are ways moms can go back to school without breaking the bank. Student parents can apply for scholarships, attend school part-time, and take out student loans. You don’t have to choose between financial stability and an education.

The first thing you should do if you’re considering going back to school is complete your Free Application for Federal Student Aid (FAFSA). This gives you an estimate of how much federal grant and scholarship money you may qualify for.

With that information, you can take as many steps below as necessary to lower the cost of going back to school.

Any student can apply for general scholarships. But there are some tailored for moms. There are even some specifically for single moms.

Scholarships are loans you don’t need to pay back — so they’re free money. They can range from just $100 to thousands of dollars. Applying for scholarships tailored for moms or single parents can increase your likelihood of winning because fewer people apply.

Here are just a few scholarships geared toward moms:

The university you’re attending may also offer scholarships or grants exclusively available to moms — so contact your financial aid office to find out. The office can also connect you with state-specific grants for moms or single parents.

Grants, like scholarships, give you money you don’t need to pay back in most circumstances. The difference between them is grants are usually need-based, and scholarships are usually merit-based.

Grants can come from your school, your state, and the federal government. Below are some popular federal grant programs:

Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.

Millions of people have student loans. They’re an accessible way to pay for college if you can’t pay for your tuition upfront.

You do need to pay your student loans back, so it may be helpful to explore the options you don’t need to pay back first, like scholarships and grants. This can help you lower the amount of debt you’ll owe because you can reduce how much interest you’ll accrue.

Some of the pros of taking out student loans include the ability to fund the majority of your schooling and the possibility of loan forgiveness. On the downside, student loans can take decades to pay off, and the cost increases with interest as time goes on.

There are two main types of student loans: federal and private loans. Federal student loans are offered by the government, and private student loans come from private companies. When possible, you should opt for federal loans. Private loans typically have higher interest rates than federal loans, and federal loans have many more repayment options.

Finding and researching student loans can seem exhausting, especially for busy moms. But the return on investment you can get from your loans is often worth it.

If you already have a job, your employer may offer benefits to help employees pay for college.

Employers aren’t required to offer any educational benefits. But when they do, it usually comes in the form of student loan repayment programs. Employers may also offer student loan financing or matching contributions. They can provide employees up to $5,250 in tax-exempt student loan repayment and tuition assistance.

Here are just a few companies that will help pay for your college:

You don’t have to attend school full time to earn a degree. You can take as few as one class a semester and still reach your goals.

Spacing out your classes can make it easier to balance school and other responsibilities as a parent. A lighter course load can also allow you to spend less on childcare and spread out your tuition payments.

By taking just a few classes at a time, you can also focus more on your studies instead of jamming a full-time course load into your busy schedule.

The first two years at a community college and a university usually look similar.

General education courses, or gen-eds, consist of introductory English, science, and math courses. If you take those classes at a community college rather than at a four-year institution, you can save a lot of money.

After you take your gen-eds at a community college, you can transfer to a four-year university if you’d like. Just be sure to contact the university you want to transfer to and see if they’ll take your transfer credits for those courses. If they don’t, you may need to take them again and spend more money.

Another benefit of taking gen-eds at a community college is that they often offer night classes. This flexibility can help moms and busy parents create schedules that best suit their needs.

Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.

Depending on your goals, you may not need a college degree.

Bootcamps and certificate programs may be a good alternative for you. Courses in these programs are usually condensed to a few weeks. They may offer hands-on experience, self-paced classes, and sometimes job opportunities.

Bootcamps and certificate programs are also a lot less expensive than college. People don’t usually go into years-long debt because of these programs. They’re not free, but there are financial assistance options available for bootcamps and certificate programs, too.

These courses of study are also becoming increasingly valuable to employers. Some employers would rather you have hands-on experience in your field with no college degree than a college degree with no experience or credentials.

Childcare expenses can add up quickly over four years, and most parents say that they have to sacrifice their career advancement due to childcare. There are several places you could look for childcare support to help you save.