President Obama cares about education and wants Moms to Go back to School to earn a degree. He has asked Congress to put their money where his mouth is and now moms can apply to get up to $5,500 in the form of a Pell Grant.
And that’s not all. The money received from the Pell Grant works not only for traditional learning institutions, but also for getting a degree online. This way moms can continue to work and go to school while not having to pay for more daycare and miss out on their childrens life events.
Why is President Obama doing this? Because he knows there are single moms who work for minimum wage with no way out. He knows that moms who went to school and received college degrees 20 years ago are returning to the workforce without marketable skills. He knows that college in America is ridiculously expensive, and at the low end would cost someone $9,000 a year.
So where is the catch?
First of all, to qualify for President Obama’s pell grant it would help if you are a single mom who is low income. If you aren’t a single mom you have to meet certain income requirements. For moms who fall into the middle income bracket, it isn’t likely you would qualify.
Second, how far does $5,500 go anyway? How does one pay back the rest of the loans that are incurred from going to school? The last thing moms and families need in this economy is more debt.
Third, after these moms earn their degrees, where do they find jobs? Do you, as a mom, really want to put your kids in daycare 10 hours a day, 5 days a week as you go back to the corporate world?
President Obama is on the right track to help mom’s get ahead financially. But there are alternative ways for moms to get an education and make an income from home for much less than a year of tuition.