Balancing parenthood and higher education is no easy task — especially for single mothers and fathers who are often managing work, child care, and household responsibilities on their own. Student loans can offer a lifeline, making it possible to pursue a degree and improve long-term financial stability.
However, navigating the world of financial aid can be overwhelming, with so many options, requirements, and decisions to consider. Here, we’re breaking down the key information single parents need to know about student loans — including federal aid, private lenders, and tips for borrowing wisely.
Key Points
• Single parents can apply for federal student loans by completing the Free Application for Federal Student Aid (FAFSA) annually.
• Eligibility for certain federal loans, like Direct Subsidized Loans, is based on financial need, which can be advantageous for single parents.
• Beyond loans, single parents should explore scholarships and grants specifically designed for them.
• Single parents should engage in proactive financial planning by gathering necessary documentation early, understanding loan terms, and maintaining open communication with financial aid offices.
• If federal aid isn’t sufficient, single parents might consider private student loans. Compare offers from multiple lenders, focusing on interest rates, fees, repayment terms, and borrower protections.
What Are Student Loans?
Put simply, student loans allow you to borrow money from either the federal government or a private lender to help you pay for college costs. Student loans can help you cover tuition, fees, supplies, books, rent, living expenses, and other necessary school-related expenses.
Private vs. Federal Student Loans
When it comes to financing higher education, single parents often face a key decision: choosing between federal and private student loans. While both options provide essential funding, they differ significantly in terms of interest rates, repayment options, borrower protections, and eligibility requirements.
Understanding these differences is crucial for making informed financial decisions that can affect your long-term debt and financial stability.
Federal Student Loans
The U.S. Department of Education, through the William D. Ford Direct Loan Program (also called the Direct Loan program), offers federal student loans for borrowers who need to finance college or career school.
In order to get a federal student loan, you must file the Free Application for Federal Student Aid (FAFSA®) every year. The FAFSA lets colleges and universities know about your financial situation by asking you to input information about your savings and checking account balances, investments, and more. The FAFSA will also help you qualify for more than just loans — you could also qualify for scholarships through your institution, grants, and work-study.
When you file the FAFSA, you receive a Student Aid Report (SAR), which reports your Student Aid Index (SAI). Your SAI is an index number that colleges use to determine how much financial aid you can receive.
You can qualify for Direct Subsidized Loans, Direct Unsubsidized Loans, or Direct PLUS Loans. However, you can only get a Direct PLUS Loan if you are an independent student (that is, nobody can claim you on their taxes) or if you are a graduate student.
Most types of federal student loans don’t require a credit check. Independent students may qualify for the following amounts and limits:
• First-year undergraduate students: $9,500 (no more than $3,500 of this amount may be in subsidized loans)
• Second-year undergraduate students: $10,500 (no more than $4,500 of this amount may be in subsidized loans)
• Third-year and beyond undergraduate students: $12,500 (no more than $5,500 of this amount may be in subsidized loans)
• Graduate or professional students: $20,500 (unsubsidized only)
The current interest rate (2024-25) for Direct Subsidized and Direct Unsubsidized Loans is 6.53% for undergraduate students, and the rate for Direct Unsubsidized Loans is 8.08% for graduate or professional students. The interest rates are fixed for the life of the loan.
Private Student Loans
The main difference between a private student loan and a federal loan is that you don’t get a private student loan from the federal government like you do a federal student loan. You can get a private student loan from a bank, credit union, or online lender.
It’s a wise idea to exhaust all of your federal grant and loan options before you consider private loans. In general, interest rates are usually higher for private student loans compared to federal student loans. The amount you can borrow depends on the costs of your degree, but also depends on personal financial factors (such as your credit score and income).
Additionally, private student loans don’t offer the same borrower protections and benefits available to federal borrowers, such as income-driven repayment plans.
Student Loans for Single Parents
Single parents can get both private and federal student loans. We’ll also go over some specific financial aid ideas for single parents.
Private Student Loans for Single Parents
As a single parent, you may have a limited amount of time to research your private student loan options, but it’s to your advantage to do so because you can ensure that you choose the right type (and the right interest rate).
Take a look at three to five different private student loan lenders and compare everything apples to apples — interest rates, fees, repayment terms, deferment, forbearance and discharge options, as well as in-school repayment options.
Then, walk through the next steps:
1. Give yourself plenty of time to apply for private loans. The application and approval process can take longer than you might think. Remember that you’ll need to monitor your financial situation each semester to make sure you have enough loan money to carry you through the academic year.
2. Gather your personal information. Before you apply, you’ll likely need to have the following handy: Social Security number, employment information (including a recent paycheck stub), gross annual income, assets, rent or mortgage information, and tax returns. Specific application requirements may vary by lender.
3. Apply for a private student loan. You can apply for a private student loan on a lender’s website. The lender will ask for the personal information listed above and possibly more. You’ll also submit information about your school, graduation date, and loan amount needed. You must also agree to the lender’s terms and conditions, which you’ll want to read carefully, and proceed with the application.
Your search for financial aid doesn’t have to end with filing the FAFSA or applying for private student loans. You may also want to look for single-parent scholarships or grants through organizations that include your school, state government, federal agencies, charitable foundations and professional associations.
Another important thing you can do is to contact your school’s financial aid office and explain your situation as a single mother or father. Many colleges and universities offer endowed scholarships for students and may be able to offer you financial aid specifically for single-parent families.
Recommended: Private Student Loans Guide
Federal Student Loans for Single Parents
To obtain a federal student loan, you must demonstrate financial need, be a U.S. citizen or eligible noncitizen, have a valid Social Security number, enroll in an eligible degree or certificate program, show successful completion of a high school degree or GED, maintain satisfactory progress in school, and sign the certification on the FAFSA.
Undergraduate students who show evidence of financial need can qualify for a Direct Subsidized Loan. Undergraduate, graduate, and professional students can qualify for a Direct Unsubsidized Loan, but eligibility is not based on financial need. The government pays the interest for Direct Subsidized Loans while you’re in school, but does not pay the interest on Direct Unsubsidized Loans during that time.
Graduate or professional students may qualify for a Direct PLUS Loan. Eligibility is not based on financial need, but you will undergo a credit check. Borrowers who have an adverse credit history must meet additional qualifications.
Above all else, in addition to learning more about single parents’ loans at your school, it’s also important to contact the financial aid office at the school you want to attend to fully understand the financial aid process at your college or career school.
Tips for Single Parents to Borrow Wisely
For single parents, borrowing wisely is key — the right approach can prevent overwhelming debt and create a path toward long-term financial stability. Here are practical tips to help single parents make smart, informed choices when taking out student loans.
• Complete the FAFSA early and every year: Federal aid is often awarded on a first-come, first-served basis. Submitting the FAFSA promptly increases your chances of qualifying for grants and low-interest federal loans.
• Maximize grants and scholarships first: Before borrowing, seek out all free money options — including federal Pell Grants, school-based aid, and scholarships specifically for single parents.
• Borrow federal loans before private ones: Federal student loans usually offer lower fixed interest rates and flexible repayment plans, such as income-driven repayment and loan forgiveness programs.
• Only borrow what you truly need: Avoid borrowing the full amount offered if it exceeds your actual costs. Calculate tuition, fees, childcare, and living expenses carefully.
• Understand loan terms thoroughly: Know the difference between subsidized and unsubsidized loans, your interest rate, grace period, and when repayment begins.
The Takeaway
Affording higher education as a single parent can be a challenge, but there are student loans, grants, and scholarships available to help ease the burden. Single parents can apply for federal student loans by filling out the FAFSA each year. If this aid isn’t enough, some students may consider applying for private student loans.
If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.
FAQ
Do you get more financial aid if you are a single parent?
Schools award need-based financial aid based on demonstrated need. If you demonstrate financial need, you’ll more than likely receive some type of financial aid from the college or university that you plan to attend. It’s very important to file the FAFSA to qualify for federal student aid and also talk to the financial aid office of your college or university for more information about the financial aid opportunities available to you.
How can a single parent afford college?
There are a number of ways that a single parent can afford college, and it starts with open communication between you and your school’s financial aid office. A few excellent steps you can take include: filing the FAFSA, looking for scholarships and grants in your community, and comparing private loan lenders for private loans that fit your needs.
Are there specific student loans or grants just for single parents?
While there are no federal loans specifically for single parents, there are grants and scholarships designed to help. Examples include the Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), and scholarships from organizations that support single mothers and fathers in school.
About the author
Melissa Brock
Melissa Brock is a higher education and personal finance expert with more than a decade of experience writing online content. She spent 12 years in college admission prior to switching to full-time freelance writing and editing. Read full bio.
Photo credit: iStock/Geber86
SoFi Private Student Loans
Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®
SOISL-Q225-027