Who is eligible to apply for a government grant program?
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Government Grant and Loan Facts:
Don't be scammed by ads; whether on radio, tv, or online, about free money from the government. The federal government does offer grants and loans, but the information you pay for may be misleading. Here are the facts:
The differences between grants and loans. Loans are obligations which must be repaid, and often with interest. A grant; however, does not require repayment, but there are extremely few grants available for individuals. Most grants are awarded to universities, researchers, cities, states, counties, and non-profit organizations. Loans are generally the best bet for individuals.
Grants for Personal Individual Use
As the economy continues to stagger, with high unemployment, rising living costs and mounting debt, consumers turn to the internet in search of free grants for personal individual use.
While individual grants such as Pell Grants for education are indeed available for personal education use, typically government grants are awarded to foundations and organizations, which then serve individuals.
But that doesn't mean that there will never be a broader range of free grants for individuals. As of the date of this article; however, there are not; for example, free grants for personal debt. To stay current with grant opportunities, individuals should frequently check for new programs.
In addition to government websites, there are also private foundations and website links that can assist in grant searches, in addition to submitting grant application proposals.
Meanwhile, if there is not yet available; or if you do not qualify, for a free grant you never have to pay back, there are still other options including state assistance programs. The best tip is to keep all your mind open to other solutions. Instead of focusing only on; for example, a free grant to pay bills, also look for assistance to help you meet other expenses (such as food or housing assistance), which would free-up money to pay debts.
Turn over every stone, be watchful of scams and; if you find a program which you may qualify for, consider having an experienced, professional company submit your application. For example, a lawyer that specializes in SSI disability may increase your chances of getting supplemental security income approval.
Don't try to call the United States Department of Grants. There isn't one. Federal agencies may have different rules for who is eligible for grants and loans and how to apply.
To get an idea of all the federal grants available, browse the online Catalog of Federal Domestic Assistance. These listings are updated annually.
Be aware that grants require you to submit a proposal to the federal agency describing what you plan to do with the money. Even after submitting a proposal, it may be quite some time before the agency either approves or denies your request.
Grants also require you to fill out forms, generally on a quarterly basis, that tell how much money you have spent and what you have spent it on, as well as how you are progressing on the work you promised to do.
A better approach for most consumers is to visit GovBenefits.gov. You check off which categories you fit into (for example, veteran) and then answer a series of questions. GovBenefits will identify loans and sources of financial assistance for which you may be eligible and tell you how and where to apply. You may be surprised what you are eligible for- there are forms of assistance available for a variety of personal situations including disaster victims, farmers, or people with teaching experience.
You can fill out an application for Federal Student Aid by visiting the Department of Education's website. You may be asked to provide information about your income and your family's income to determine your eligibility. Save report cards and transcripts in case you need to report your grades. Have a good idea of what schools you plan to apply to and what you want to study.
Visit GovLoans.gov to learn more about well-known programs such as Pell Grants, Work-Study, and Perkins and Stafford Loans.
The Department of Veterans Affairs website can tell you more about the "GI Bill" and other programs for veterans and their survivors and dependents.
GovLoans.gov also has information about Parent Loans for Undergraduate Students (PLUS). Eligible parents can borrow to pay the educational expenses of dependent undergraduate children who are enrolled in school at least part-time.
Beware of "scholarship scams." For example, be wary when you hear that your bank account number is needed to "hold" the scholarship. Be sure the scholarship is legitimate before giving out any personal information.
The Department of Housing and Urban Development (HUD) helps individuals by giving grants to non-profits and local governments, however HUD does not offer assistance directly to consumers. Visit or call the HUD office in your state to find out more.
Here are some HUD loans and other options to explore:
HUD's Federal Housing Administration (FHA) insures loans, allowing you to purchase a home for as little as 3% down. Anyone can apply, but there is a limit on the loan amount they will insure-this varies according to geographic area. You can also wrap the closing costs into your mortgage.
A foreclosed or "HUD Home" may have a lower asking price. Most HUD Homes are affordable for low to moderate income families.
Through the Department of Veterans Affairs, veterans and their families may be eligible for loans to buy a home.
The United States Department of Agriculture's Rural Housing Service insures loans for the purchase of homes in rural communities.
Fannie Mae has a website that can help you find a low cost mortgage and a lender that are right for you.
Visit HUD's website to learn about programs to assist you in renting a house or apartment. You can locate low-income housing, or apply for a Section 8 voucher that you can use to pay some or all of your rent.
The Rural Housing Service makes financing available to elderly, disabled, or low-income apartment residents in rural areas to ensure they are able to make rent payments.
You can also visit a SBA Small Business Development Center for help with starting, financing, or expanding your business.
As the saying goes: "Buyer Beware". If you see ads claiming you qualify to receive a "free grant" for education, to start a home business or to payoff unpaid bills but you must pay a processing or membership fee to obtain the information, be wary. Scam artists will claim your grant application is guaranteed to be accepted and approved, and you never have to repay the money. But the Federal Trade Commission (FTC) warns that these grant offers are often a scam. The grant isn't free, nor is it guaranteed, nor is a refund.
According to the FTC, some scam artists market "free grants" in classified ads and on the internet, as in the example ad below:
When you call their toll free phone number, here's an example of what happens:
A company representative asks non-threatening, simple questions to supposedly determine if you qualify to receive a grant. The representative then acts as if he/she is checking your eligibility, and then congratulates you as being eligible. But for you to get the grant information from them, they will charge you a processing fee. Although they will promise you that the grant is guaranteed or you can get your money back, the truth is far different.
They will tell you that the processing fee is for finding a grant source and sending you the appropriate application package in the mail. But you won't receive an application or a source. Instead they send you a list of agencies and foundations which you must write and request an application. In order to get your refund, you must apply to; and be rejected by, all these agencies within 90 days.
Most grantors don't award grants to individuals for personal needs. Generally grants are to serve mankind and communities as a whole, such as job expansion, training under-employed youth, preserving history, funding charities, art museums, or for researching medical issues. So, even if you're in a financial hardship, or you may be an unwed mother, a single parent, a minority, etc, you're not likely to get approved for a personal use grant. And you may as well forget about getting a refund from the grant "broker" because the conditions for a refund are nearly impossible, requiring you to apply at every grantor on the list they provided to you and be denied by each resource within 90 days. If even one resource doesn't reject you within the first 90 days, you won't get your refund, nor will you get it back if the rejections are past the 90 day requirement.
If you're thinking about applying for a grant, remember that the applications are available to you for free and that anyone who guarantees you a grant is likely to be interested in their own financial gain, not yours. If you think you may have been a victim of a grant scam, file a complaint with the FTC by visiting www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261.
Don't fall for grant scams. Use the free resources available to you at public libraries, on the internet, and at Credit Federal
With our resources, you can research and apply, 100% free for Government Grants with no fees. Plus you'll have unlimited access to Unclaimed Money which you can immediately claim with no credit card required. Our links also include Educational Grants, and Grants for Disabled people, and even Veteran Grants. Search now for government assistance as well as individual grant foundations.
Search for government bailout grants and other government debt relief grants. If you're an individual, check for government grants to pay bills.
Free Grants for Personal Individual Use As the economy continues to stagger, with high unemployment, rising living costs and mounting debt, consumers turn to the internet in search of free grants for personal individual use.
NOTICE: This site provides Government Grant and Unclaimed Property links as a free public service and is not a grantor. These government resources enable you to search and apply for grants and unclaimed property with absolutely no fees, no hidden charges, and no credit card required. For Gov Grant, Unclaimed Property or Private Grant Foundation questions or applications, contact the appropriate authority. Read our article, or select specific areas: Grant to go to college, Grant to buy a home, Grant to pay rent, and Grant to start a business. Research all government grant information.
When debts are charged off or rather written off by a creditor, the borrower may get a notice from the creditor when it is done. The charge off could be considered income and may need to be claimed on a tax return. If so, the debt is legally dead and taxes were paid on the income. Be aware that there is a statute of limitation in all states, it is important to know what it is before trying to arrange to pay off a debt. Collectors have a certain time period to collect on a debt. When a debt is older than the statute of limitations, make that clear to bill collectors.
Debts may not be on credit reports after seven years, if it has not been paid during that time. How an account has been reported can make a difference between ruining credit or having no affect on reports. The time a late payment can remain on reports has nothing to do with the statute of limitations. People can be sued for a debt even though it is not on a credit report, and the statue limitations is still in effect. Once the statue is out of date, the debt is not collectable.
When people are not successful at getting out of debt by themselves, they often seek a credit counseling service. Debt settlement programs advertise they can help decrease debt up to fifty percent. This could be possible when accounts are closed and a payment plan is developed. Some people are able to get a debt settlement loan to pay the reduced payoff. Debts that are delinquent can cause a creditor to take legal action, and they may win a judgment. When this happens, part of a person's income could be garnished or property could be seized. When a huge amount of debt is owed, the chances of this happening can increase.
Just because there are a lot of debts, does not mean a person should automatically jump into filing bankruptcy. Sometimes people are so stressed they jump to this option. They may not want to risk garnishment of wages or seizure of their property. This is not a possibility without having court take place first. Bankruptcy is one choice that should be used when there are no other alternatives.
The creditor who settles for a lesser amount of money, may mail a 1099 tax form to the borrower, so it can reported as income on their tax return. Yet, if a person owed $50,000 and the creditor settled for $25,000 that may be worth getting a 1099.
Married Couples Joint Credit: Before exchanging wedding vows, exchange credit reports and have a candid discussion about your finances. Be open and honest about matters that could be a source of friction in the future, such as major outstanding debts from student loans or credit cards. Some experts suggest that both of you order your latest credit reports and then, together, sit down and review them to avoid major surprises. Credit reports include information on debts outstanding and, for example, whether someone has filed for bankruptcy. By federal law, you can receive one free copy of your credit report every 12 months from each of the three nationwide credit reporting companies (AnnualCreditReport.com or call toll-free 1-877-322-8228). Set short-term and long-term financial goals. Figure out how much money each of you should be able to spend for "fun" and how much you should set aside for important goals, perhaps to buy a home. Financial advisors suggest that young couples consider preparing and following a monthly budget. Understand the risks and responsibilities of jointly held accounts. If a husband and wife are co-owners of a credit card and one of them goes on a spending spree, the other spouse may be held responsible for paying the bill. Likewise, irresponsible use of a jointly owned credit card by one spouse would be reported on both of their credit histories, and that could damage the "innocent" partner's chances of getting a good loan or credit card in the future. And when two people use the same checking account, they should share one checkbook and record all transactions, because otherwise they risk losing track of their balance and paying charges for insufficient funds.
Should I destroy all my credit cards when money is tight? Access to credit may be helpful in tight times, allowing you to manage unforeseen expenses such an emergency home or car repair. Just be sure to evaluate how using credit now will affect your budget in the future. • With a good credit history, you may be able to work with existing lenders to lower your interest rate and negotiate better terms for existing loans. • When you receive gifts of money, get a bonus or pay off a debt, use the extra money as “powerpayments” to pay down your remaining debt. • Make certain you are getting any available perks associated with your credit cards, such as credit toward payments, points toward frequent flyer miles or gifts that could be used for upcoming occasions.