Money for College

I've been receiving a lot of emails and questions during talks regarding teen parents' ability to afford college. Believe me, I didn't have a fat bank account or rich parents who helped pay my tuition. In fact, I was living in a motel when I was filling out my college applications.

So, here is my advice: Once you've given birth to your child, you are considered an "independent student," which means the government doesn't consider you a dependent of your parents and therefore does not take their income into consideration when determining how much money to give/loan you for college. You don't need to rely solely on scholarships and grants to pay tuition, you can also take out student loans.

I know being in debt when you graduate is a scary thought, but investing in your education is one of the best things you can do. As a college graduate, you'll be making more than someone who only has a high school diploma and you'll be able to afford those student loan payments.

To learn more about student loans, you can visit: www.fafsa.ed.gov.

Scholarships and grants are also a great way to pay for college. Check your high school guidance office for scholarship listings that you might be able to qualify for because of a high GPA, your city of residence, hobbies such as singing and dancing, or the fact that you're a teen parent. You can also check the scholarship listings at the Financial Aid Office of the university or college you're interested in. Another resource for scholarships specific to teen parents can be found at: www.collegemommagazine.com.

Best wishes!