Missouri Money For College – Rate Relief Student Loans Will Help You Pay For Your Education

April 21st, 2022 by admin Leave a reply »

If you are a single mom or a lone parent and you live in Missouri it may be hard to go back to school or continue education because of the added pressure of having kids and earning enough money for daily needs. However, there is a chance for everyone who needs help or assistance!

The loan service run by the Missouri higher education loan authority or “MOHELA” as it is called offers special rate relief student loans to help you pay for your education. This is of great benefit if you are on a low income and need every cent to get by.

What is the rate relief loan?

If you have taken out a Stafford or Perkins loan the state loan service will offer you a reduction of around 3% on the interest rate you pay. This is unique to this state and only applies to these types of loans and will help you save a considerable sum of money.

If you do not qualify for rate reduction loan from “MOHELA” all is not lost. There is also the public service reward program run by the Missouri loan authority.

The Missouri public service reward program is for anyone who has worked for the state or as a police officer, teacher or a nurse in Missouri.

If you do not qualify for either of these programs you can still apply for a free federal grant or scholarship to pay for you to go back to school.

Scholarships and educational grants are now available in countless numbers and even specifically targeted at single parents wanting to go back to school. There are lots of sources where you can research and find grants and fund assistance for your particular needs.

A lot of them can be found over the internet so grab your pen and pencil to track down all scholarships available for you. Before applying ensure that you meet all qualifications to avoid wasting precious time.

The federal government also offers assistance for everyone who want to continue education. Top grants available include the pell grant as well as the federal supplemental opportunity grant (FSEOG). The basis for these grants are income tax returns and you need to complete the FAFSA form first which you can find online.

Your first stop should be to contact the Missouri loan authority or MOHELA and find out exactly you qualify for. If you cannot get any assistance or if loans are too expensive then your next step is to apply for federal grants and state or federal scholarships.

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