All Women Over 40 Can Apply For Obamas New Scholarships For Mothers Program

All Women Over 40 Can Apply For Obamas New Scholarships For Mothers Program

There is much talk these days about the "Scholarship for Moms Program." Realistically, it is not so much a program, but a much anticipated outcome of the American Recovery and Reinvestment Act of 2009. In the ARRA, the federal government has revamped funding for higher education, making loans, grants, and scholarships easier to obtain. ARRA also has allocated more funding for financial aid, benefiting college students and hopefuls across the nation.

A substantial portion of this revamping deals with the federal Pell Grant. The Pell Grant is a government grant designed to assist those with the lowest income. It is aimed at those who make $20,000 a year or less (although it does fund students from families who make up to $50,000). The maximum cash value of the Pell Grant is being increased per student. During the current school year, 2009-2010, a student could receive up to $5,350 in grant money. Next year, 2010-2011, students have a maximum $5,500 benefit.

Pell Grants are only available to undergraduate students with a maximum lifetime limit of 18 semesters. Eligibility is not based upon any social factors but is largely based on the Expected Family Contribution (EFC). The students parents must apply on his/her behalf unless the student is over the age of 24, married, in the military, or a ward of the state. All applicants must possess a high school diploma or a GED.

Pell Grants, and other federal financial aid, can be applied for through the Free Application for Federal Student Aid (FAFSA).

Remember that grants are not the only financial aid option available. There are many scholarships and grants awarded through private and charitable organizations. Investigate your options thoroughly. It is a lot of work, but the benefits will last a lifetime.

Did you know you can get a $10,000 scholarship for Moms just for registering? Apply right now for free: Scholarships for Moms