A grant program is available to help low income students pay for child care while the student attends classes.
To be eligible for this state program:
- you must be a resident of the state and a U.s> citizen or eligible non-citizen
- have a child 12 years old or younger (or 14 or younger if the child is handicapped)
- there are family size and income requirements in order to qualify for this program
- be enrolled for at least six credits per term
- NOT have completed four years of postsecondary education. Students who have withdrawn for active military service after December 31, 2002 are given an extra term of eligibility.
- NOT have defaulted on a student loan
Eligible schools that meet the eligibility requirements are all public postsecondary schools and private, baccalaureate degree granting colleges and universities located within the state or nonprofit, two-year vocational schools granting associate degrees.
The amount of child care assistance depends on:
- The number of people in the student's household
- The number of day care hours necessary to cover education and work obligations
- Income of the applicant and spouse
- The availability of funding
- The student's enrollment status
The maximum available to a full-time student is $2,600 for each eligible child per academic year. Assistance may cover up to 40 hours of child care per week for each eligible child. In some instances, the maximum award may be increased by 10 percent to compensate for higher market costs for infant care.
The student should apply to the financial aid office at his or her school.
For more information you can view their brochure online.
For more information about other kinds of daycare-related grants, just visit my blog Grant Basics 101 - Daycare.
If you are out of work, you may be able to get money to live on as well as money to pay for entrepreneurial training to run your own business!
There are both federal and state programs that provide funding for those who are unemployed but are looking for work! These programs are run with federal money and state money. Each state has different rules and the main idea is that they have money for you to train to get a better job along with money to live on while you are training.
These programs are run through special offices that are located throughout the United States.
For more information about these kinds of programs and whether or not you are eligible to apply, you can visit their website by clicking here.
Could Your Business Use A Loan?
One restaurant owner was struggling to open up his business. He needed money to install the kitchen stove, hood, and grill. Bank of America turned down his loan request. Desperate for an infusion of cash, he took out a $6,000 loan with a 20 percent interest rate. Then he found out about a non-profit organization that provides loans under $25,000 to new businesses shunned by banks. The restaurant owner was able to get a loan at 12% interest without having to offer collateral.
The non-profit organization that offers this funding program looks at more than just credit history and collateral. According to a spokesperson for the program, "We look for people who have a good idea and who have put some sweat equity into the business,".
In the past this non-profit organization has out over loaned $20 million dollars.