Grants for Women to Pay off College Debt

[Sidney Terrell is an associate editor with http://www.ovlg.com/. She is also a guest columnist, blogger, and a small time entrepreneur. Sidney writes on a wide range of topics including debt consolidation, debt settlement, bankruptcy, and investment opportunities.]

 

Student debt has already surpassed total credit card debt in the U.S. The total debt amount is anticipated to reach $1 trillion shortly this year. According to a National Postsecondary Student Aid study, college students who have just passed out owe an average of $23,000. However, the situation of young graduate women is significantly worse. A study by Mahnaz Madhavi, the economics professor of Smith College showed that young females on average have more credit cards than males, which certainly signifies more debt than males.

Some experts say that women between the ages 18 and 34 are experiencing the grave debt load. Once they leave the college premise, debt problem is crippling them. According to data from the Department of Labor (USA), women between the ages of 25 to 34 take home 85% of men’s salaries. Consequently, female consumers spend more of their income toward paying off their debts than men.

However, to avoid acquiring debt in college or to pay off them after the college education, grants for women in college can be of tremendous use. According to College Schlorships.org, though more women leave college with undergraduate degrees than men, they are always underrepresented in the field of higher education. These days, however, many women’ colleges offer merit-based and need-based grants and scholarships generously. Below are a few colleges, which offer useful grants for women.

Women in Science and Engineering
Spelman College in Atlanta has always served for the growth of African American women. Spelman College is supporting the Women in Science and Engineering Scholars Program (WISE) through a grant from the National Aeronautics and Space Administration (NASA). Through this grant, the students from underrepresented groups get the opportunity to avail higher education in the science and engineering fields.

Davis Degree Program of Wellesley College
Wellesley College in Massachusetts does not provide any direct grant based on merit. However, they have a grant for women, which is called the Davis Degree Program. This Davis Degree Program provides grant to adult women who have exceeded the age of n receiving college education. To get the grant, the applicant should be over 30 years and have completed 32 units of coursework at Wellesley College.

Goizueta Foundation Scholarship
Goizueta Foundation Scholarship is an outstanding grant program of Agnes Scott College in Atlanta. This grant program offers Hispanic women students a fully funded education. The Goizueta Scholarship further supports those Hispanic students who strive for financial help.

Bernard College
Bernard College in New York honours grant based on need and merit. Apart from this, they also encourage federal student loans and external scholarships. The Dean’ office at Bernard College frequently issues a list of helpful private scholarships available through the college.

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