Government Grants for Individuals
Organizations and companies, as well as individuals, are constantly searching for ways to find some financial relief or garner some resources for new projects, education or starting a business. While there are some grants available for individuals, these fall under specific categories. Grants in general are funds given toward a designated purpose, so if you meet those criteria, you are on your way to getting some government financial assistance.
Other People Are Reading
-
Function
-
Government grants are used to supplement the income of retired United States citizens, to offer aid for those disabled by accidents, disease or mental health issues, to provide scholarships and loans for education and to ease some financial burdens of low-income individuals. Grants and financial assistance are distributed through the states' local offices of Human Services or Community Health. You can find applications online or in those offices.
Types
-
The most common individual grants come in the forms of educational grants and scholarships, tax credits related to children for adoption and child care, federal housing loans, state unemployment insurance and medical insurance for elderly, disabled, children and low-income persons. Farmers and crop growers have some aid available to them as do small business owners, though this falls under a different category. Native Americans, military veterans and victims of disasters can also receive certain grants.
-
Considerations
-
Each recipient must meet certain eligibility criteria in order to receive a government grant. If the person's circumstances change, thus making him ineligible, that individual will no longer be able to collect money from that grant. Read requirements carefully to know if this money has to be repaid at all or in portion. For example, student federal loans for higher education are deferred until a student finishes school, but upon graduation payments are required. Grants don't typically require repayment, whereas loans do.
Time Frame
-
Most government grants, such as tax credits, adoption credits and tax credits for paid medical premiums are limited to within the present calendar year or the tax year. Unemployment limits vary by state, but most states only allow you to collect unemployment benefits for a maximum of 26 weeks and want you to be actively seeking work as well. Student loans are only granted for the current year or semester's study, and students must reapply annually or at a semester transition. Check the time limits for the grant you are seeking.
Warnings
-
Stay away from companies or websites that promise quick money. Don't ever give your bank account or credit card information to a person or agency who calls you offering you debt reduction or "free grant money" services. These are usually scams and you can quickly lose the little money you're trying to grow. When you're trying to find grants and financial assistance, use official government (".gov") websites and reputable organizations like the state-run Departments of Human Services.
-
