I am trying to create a simple UV for the text but it will not go off the mode to change the text. Whenever I hit tab to close my selection of words, it goes back into object mode. Then, when I try to switch to edit mode the editing text line comes up and i cannot close it unless i go back to object mode. Please help.
It’s a text object so edit mode edits the text. It does not contain vertices or faces so you cannot edit the shape of the text, that is what fonts are for.
UVs are used with meshes so you will have to convert your text object to a mesh. Select in object mode and use the Object / Convert menu. When it is a mesh you can edit its vertices and UV unwrap it