Single mothers might be worried about how they will afford to put their children through university or college, but luckily, there is help available. This page will cover all the details of the Perkins Loan Programs, and it will also help you understand the application process.
What Is The Perkins Loan Program?
The Federal Perkins Loan Program (referred to as Perkins Loans), are student loans that have very low interest rates. These loans were designed to assist students that wish to graduate but do not have the finances in order to do so.
They are available to undergraduate, graduate, or professional single mothers that have a clear and urgent financial need in order to finish their higher education. Loans provided under this program have an interest rate of just 5%, which is substantially less than any other loan. Depending on which higher education institution your child is enrolled at, they may or may not participate in the program.
How It Works:
++ Popular grants for single mothers
- Most Helpful Government Assistance Programs for single mothers
- Welfare benefits for single mothers
- Rent assistance for single mothers
- How to apply for government benefits
- Low income assistance for single mothers
- Housing grants for single mothers
- Child care assistance for single mothers
- Food stamps for single mothers
- Unemployment benefits for single mothers
- Grants for paying telephone bills
- Food assistance program for single mothers
- Education grants for single mothers
- Cash assistance for single mothers
- College grants for single mothers
- Free scholarships for single mothers
- Government financial help for single mothers
- Popular Charities that Help single mothers With Bills
- Section 8 Assistance Program for single mothers
- Low Income Assistance Programs for single mothers
- Foreclosure Assistance Programs for single mothers
- Mortgage assistance programs for single mothers
- Medical Bills Assistance Programs for single moms
- Get help with buying your medications
- Financial Assistance Programs for Women
- Organizations That Offer Free or Low-Cost Credit Counseling to single parents
- Local Church Assistance Programs for single moms
- Get Help from the Salvation Army
- Get Free Legal Assistance and Advice
- Help for single moms With Paying Off Student Loans
- Section 8 Assistance Program
- Catholic Charities Financial Assistance for single mothers
- Get Help Paying Electric Bills
- Get Help Paying Water Bills
- LIHEAP Energy Assistance Program for single mothers
- Low Income Assistance Programs
- Grants and Scholarships for Adults Back To School
- Assistance Programs for American Indians
- Assistance Programs for Hispanic single mothers
- Financial Assistance Programs for Seniors
- Financial assistance programs for disabled
- Financial Assistance for Single Mothers
- Assistance Programs for African American single mothers
- Perkins loans for single mothers
- Children's health insurance program for single mothers
- Grants for single moms with no health insurance
- Debt consolidation programs for single mothers
- Bankruptcy assistance for single mothers
Even though Perkins Loans are federal initiatives, they are administered by educational institutions. This ensures that students borrow money from their university or college. This also means that repayments will be made to their school. The loan amount provided to students that qualify for benefits depends on how much funds the university or college has to grant, and also by the student’s financial need.
Generally speaking, single mothers can be assisted with between $5,500 per year, with the total amount that can be loaned to undergraduates being $27,500. Graduates and professional students may be eligible for loans of $8,000 per academic year, with a maximum loan amount of $60,000 for the duration of your studies.
Your loan funds can be applied to the cost of your tuition, your college fees, accommodation, or other school expenses. If you don’t use all of the funds that you have borrowed, your college or university can help you repay your student loan by offering you a refund.
Single mothers that are enrolled part-time have up to 9 months after graduating from their college or university to start repaying their Perkins Loans, but do keep in mind that missed or late payments do come with penalty fees.
How to Apply for single mother benefits:
Before your child can apply for a Federal Perkins Loan, you’ll need to ensure that the school they are enrolled at participates in the program. Single mothers can help their children to apply for a Perkins Loan Program by completing a Free Application for Federal Student Aid. You can also contact the Federal Student Aid Information Line at 1-800-433-3243 if you need any questions answered or need help with your application process.
This page has highlighted what the federal Perkins Loan Programs entail and it also touched on the expected amount of funds that can be provided to low-income single mothers on a low-interest loan basis. We hope that single mothers have found all the information they’ll need in order to assist their children with applying for federal student aid, which can ultimately help them thrive and become self-reliant once they leave home.