We've all seen and heard the ads implying that you can get public grant money for personal debt relief. However, if getting government aid for personal debt relief were that easy, no one would be in debt, or people would keep getting in debt, knowing that the government will just bail them out every time.
There are 26 federal grant-making agencies available. Some provide services for global humanitarian assistance, hunger, economic and technological advancement, homeland security and educational excellence, just to name a few.
Those eligible to apply for such grants are typically state governments and municipalities, housing authorities, non-profits, and large and small businesses.
Personal Debt Assistance
There are currently 22 grants for which individuals may apply, but none of them pertain to personal debt assistance of any kind.
The next time you hear "Get a free grant to pay off your existing debt, buy a house or a car, go on a vacation..." just know that they do not exist.
Even at the state level, personal grants are seldom given to individuals except for college tuition and fees, and not everyone is eligible for those.
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