3 Things You Should Know About Grants


What is a Grant?

The US government site states: “A grant is financial aid, often based on financial need, that does not need to be repaid.”

In other words, a grant is FREE money.

A federal grant is financial assistance awarded by federal agencies to qualifying recipients, usually granted for reasons considered to be socially valuable.

Types of Grants

This includes, but is not limited to, assistance for:

  • Housing
  • Food
  • Healthcare
  • Unemployment
  • Education

In addition to the over 900 different types of government grants available, there are also private grants. Private grants are offered by organizations that are not affiliated with the government, but still have concerns for social health and betterment.

Because of the sheer number of grants available, practically anyone can get one. You just need to know where to start.

Getting a Grant

Grants are more difficult to get approved for than loans because the money doesn’t have to be paid back. For this reason, getting a grant usually requires that you apply for several. You almost never get approved on your first application.

Probably one of the easiest grants to get approved for is an education grant. The government wants educated citizens, because educated citizens make for a strong work force and a thriving economy.

In addition to education grants, student loans are also relatively easy to acquire, allowing you to cover personal expenses like rent, food, and travel without having to pay the loan back until your schooling is completed.

These are just a few tips to keep in mind as you look for ways to improve your quality of living.

Related Articles:

If you found this article helpful, share it with a friend.