Debt Relief Grants For Low Income Single Moms-Debt Help

Debt relief grants for single mothers: monetary assistance for low income moms- Life for a single mother is always filled with several struggles both in terms of social, political, and most importantly economic aspects. The US Government is offering federal grants to low income single moms through various nonprofit organizations, accredited firms, churches, and other community action agencies.

Raising grants can primarily be done in one of two ways. You can apply for a grant through federal, state, or local government. These grants are often used in the form of debt help to single mothers, which often make the life of a single mother complex and insecure.

The following are the list of grants that are offered as debt relief grants for single mothers:

Pell Grant: this is a need-based grant and often is used by the single mothers to cater to their educational needs. There are times when the mothers find it difficult to continue with their academic aspirations due to heavy debts and so get dropped out of college. Anyone is eligible for this grant from the amount between $400 and $5,350.

You can also check- College Grants For Hispanic Single Moms

Academic Competitive Grant (ACG): this is one of the merit-based offered to college students. By obtaining this grant, women can get some relief as this proves to be one of the greatest financial help when it comes to facing their challenges of debts.

Federal Supplemental Education Opportunity Grant (FSEOG): This grant is again a need- based grant which is offered to the mothers with dire financial needs and is going through a worst financial situation.

J. Jill Compassion Fund Grant: this grant is given to disadvantaged and homeless women for them to become self-sufficient. It also helps the women to get substantial support to overcome their debts and its various complexities

The US Department of Housing and Urban Development: this is the federal body that helps single mothers with substantial assistance in terms of their accommodation with low housing cost and helping with low rental rates

You may also opt for- Single Mother First Time Home Buyer Grants

Loan Forgiveness Programs: there are various loan forgiveness programs that have been initiated by the Federal US Government. Single mothers who are college students can eliminate some of their college debts through The Federal Family Education Loan Program pays a portion of teachers’ debts if they work in low income neighborhood.

Mortgage Debt Relief Program: Mortgage is one of the biggest debts which one can ever carry. The Mortgage Forgiveness Debt Relief Act is a government program that has been designed to exclude income that is otherwise taxable when mortgage debt is forgiven. According to this act, if someone is facing foreclosure or eviction, then often the debt is forgiven. This is a common feature when it comes to single mothers.

Loan Modification Program: the struggling mother may be able to reduce the monthly mortgage with the help of the federal government. The monthly mortgage, with the help of the bank, can be lowered by 31 percent.

Award Programs: debt relief grants for single mothers become even easier with various award funds that do not have to be repaid and then they can be used in the form of grants. For those who want to get rid of credit cards or any form of personal loans, these grants are of immense help in their lives.

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