Does The Government Hand Out Free Money?

 

 

While getting “free money” from the government for almost any reason sounds appealing, the rumors are not true, and the government does not just give away grants or free money for no reason! Quite often non-profit organizations or local governments are the ones who receive grants and they use the funds to run local assistance programs, so it may be challenging for an individual to qualify for a federal grant (but not impossible)! If you’re interested in receiving financial assistance from the government, you will have to meet specific eligibility requirements and submit an application.

Also, if you’re interested in financial aid, don’t forget the critical differences between a grant and a loan. A grant, unlike a loan, does not need to be paid back! While a loan always needs to be paid back, and often comes with strings attached (interest)!

Interested in Applying for a Government Grant or Loan?

benefits.gov is a great resource where you can see which type of federal government aid you may be eligible for and how & where to apply for it! You can see which grants, loans, financial assistance and other benefits are available, and whether you’re eligible for them or not!