Grants and college scholarships should be your top priorities when heading back to school
September 7, 2011
Mothers who are thinking of heading back to college to pursue a new career have a wealth of financial options available to them. While it may be tempting to go off and secure some student loans, these funds can strap you with enormous amounts of debt by the time you finish your degree program.
Student loans are typically divided into fixed rate and variable rate formats. Fixed rate loans will never increase or decrease during your time at school, but they could become more expensive if the market takes a dip and there's a better option available.
Variable rate loans may seem like a good deal at first, but their interest rates can fluctuate many times while you're in college. The best course of action is to look at these loans as a last resort and pursue other forms of funding instead.
Grants for parents and college scholarships may require a bit of research, but they will never have to be paid back. This will drastically reduce the amount of debt you have after college and allow you to hit the ground running in your new career.
