Loans For Single Mothers

Loans For Single Mothers


Being a single mother and still providing for yourself or your children can be a very stressful and frustrating experience. There are many problems with finances, loans for single mothers and getting help isn’t always easy so here are some services you should be aware of.

Education Loans

Education loans can be very tough to pay back, should you have debts remaining on your student loans. This may force many moms to consolidate their payments, which will put them into debt for 10-30 years, but allow them to keep out of bankruptcy longer. If you have children who wish to obtain student loans, and you are a single mother, it is harder to get such loans for a few reasons. First, women usually make less money than men. If you are a single mom, you don’t have a partner’s help with income, and also earn less than a man would. You are also less likely to have enough collateral to prove that you can pay the loans back, and you are more likely to have previous debts to pay. A popular option instead of a student loan are fedral program for single mothers.

Like education loans, automobile and home loans operate in the same manner. You are more likely to be rejected for a house rather than an apartment, since houses on average cost much more. Automobiles also put single moms at a disadvantage- since automobiles often break down, requiring more money be spent. This makes the odds that a single mother can pay back a loan less likely, as maintenance can eat up much of a single mother’s income.

Business Loans for Single Mothers

Business loans are another subject that may cause single mothers to have trouble obtaining loans. This is increasingly harder than other loans, since businesses are extremely risky operations. The odds of maintaining a successful business is usually quite low for small business owners. Having sufficient collateral is again a problem with single mothers, forcing many to not get the needed business loans to start their own business. Single mothers usually have a lower credit score, since they incur more debts than other couples or single men on average. This will also lead to a lesser chance of getting approved by credit card companies, making the buying power of single mothers even more burdensome.

However, there are ways to influence or take advantage of situations in favor of single mothers. You may speak with the Department of Social Services for things such as welfare, food stamps, child support, medical programs, and child care assistance. These programs can be found in phone books, government agencies or on this website. There is a lot of paperwork to apply, and the waiting time can be very long. The wait is often worth it, since single moms need all the help they can get.

School Programs to Try

School lunch and breakfast programs should be taken advantage of. This is a federal program that gives reduced prices or even free lunches and breakfast to kids who attend school, and eat at the school. Other grants can help you in funding for food or even gas and heating bills. Churches often have programs to help as well, and you should explore all of these options for a better life for children a single mom may have. Reduced prescriptions and free counselling are also available to those who apply- so make sure you take advantage of such offers to the fullest.

When looking to improve your credit score, you should have family members or room-mates split bills, and put some bills in your name. This will improve your dependability and credit rating. Also make sure that you stay away from penalties such as bounced checks, which can effectively ruin your credit. Doing this will eventually raise your credit score enough to gain some respect among loan specialists, which can bring you to a new step above where you previously were.

When you have better access to loans, you can get lower rates. You can better obtain a business loan for mothers, for example, with your improved credit rating. You may also co-sign loans with family members to add credit to your score- and regular payments will again boost it. In case you can not make a payment, the money is then billed to your family member- so either way the bank will most likely get its money. This is the best way to obtain a loan if you are not qualified enough, and doing so is one of the best ways to improve your credit.

Over all, single mothers are at a disadvantage. Statistically, they will make less money and not qualify for loans. They will also have more poor living experiences, and will have less buying power. Following the previous steps will allow single moms to achieve a better way of life for them or their children, regardless of their standing in society’s hierarchy.

Avoid taking out any emergency loans, simply because their terms are always the least favorable to you as the borrower. Why not consider a personal loan that helps you to consolidate debts into one monthly payment, improves credit, and helps you keep track of every penny with ease? This would be possible with a personal loan – of course, your credit has to enter the equation.


If your finances are in order but you want to return to school or start a business, there are many kinds of loans for single mothers. There are also grant options for single mothers as well, and these are funds that do not have to be repaid.

As you can see there are loan options for all situations, but the best way to find and get a loan is long before you need the money. Start looking today and have all of the resources you need even before you need a loan.


About Author

Stacy is a mom who loves to Cook and Travel! She loves to write on this blog and share her thoughts with others. Catch all her latest posts and she loves to read comments from her favorite readers :)


  1. I live near the Detroit Metropolitan Airport. I bought a used car on a “B” lot. It had problems the first few days I had it. Well, I was on lay off and I could not get a car from a regular “A” dealer. However, the moment I sign the contract for the used car, I checked my email at the dealers and I was called back to work to report in the morning. I drove the car but something wasn’t right. I did’nt have money to get it fixed. I had given the dealer a $3,000 downpayment. Well soon after, the headlights went back, I got a ticket for that. The radio and CD shut down. The windshield wiper sytems shut down and then the car shut down. They also had be buy a two year warranty for $2400 that really doesn’t cover nothing. The man at the dealer who helped sell me the car said if anything goes wrong with it just take it to a Mercedes Dealer and they will fix it because it is under warranty. Well, my car broke down after about 7 months. I was told that the repairs would cost me $2400 and that the warranty only covers about $700. Then, I was told by the licensed Mercedes Dealer that the previous owner had a car start up device on it and they removed it and damaged the wires and that eventually it was going to affect my windshield wipers motor that would also cause damaged to the ignition and eventually my car would stop running. Well, all these things happened which means I bought a defective car and they knew this car is defective. Now, I have about a 19,000 balance owed on this car and I am catchiing 3 to 6 buses back and forth to work and I have a son I am still raising. Also, after I took the car home off the lot, they were calling me to bring the car in which I thought was strange as if they had to inpect it or something. This should of all been taken care of at first.

    These guy of an Arabic descent basically tricked me and took my $3,000 and sold me junk.

    Currenly, I am trying to buy a car but the balance owed has to still be paid which means I am starting with a negative balance to begin with.

    I need a good car asap and I am looking for one. Any help would be appreciated. Thanis.

  2. Hello All:

    I’m a single mom as well for the past four years being divorced, there are no programs out there in the state of CT if your earnings are above $43K a year. If someone knows of a program please let me know. The assumption is if you own a home and are employed, no one cares if you have $20 left after paying all primary bills.

  3. My mother and my 3boys(7yrs old,4yrs old & a 1yr old) & i are in the dark this make day 20 and my mom cars are about to repoed from my ex-boyfriend telling her that he pay her back and i won’t have any more food until next month and my mom job doent pay enough to support us i’m loosing all faith in god because this the 5th time in 4yrs we’ve been through this. We have the worst luck EVER!

  4. LaTasha Stokes on

    I am a disabled single parent,and I really do need cash now,I am on disability,but when I was in the hospital,my mom got the check coming to her house,and me and my two children live with my grandparent’s,and we are living without my check,because it goes to my mom,and I need some cash as-soon-as-possible,please help me and my kid’s!

  5. Sarah Overstreet on

    I am currently unemployed and I’m needing some assistance with car and house payment.

  6. hello i am a single mother of two and one on the way . i really need help to get a car as soon as possible .. please help.. please

  7. iam also a single mothere of a 15 year old and struggeling,reading all the posts on here makes me realize iam not allone.i mite not have electric by next week and i cant seem to get ahead of myself anymore.i use to be able to keep a budged ,but i fell behind, and it would take me a month worth of pay to get ahead again , and there is not much help out there for people like us and loans are very hard to come by. i wish all the single and struggling ones with children out there the best, and i hope you will be able to find a way and things will get better.

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