Government cash entitlements that most people are familiar with are ones where funds are automatically distributed to those who qualify, like Social Security. What many people do not realize is that there are other funding options offered by the government, like grants. Grant programs require a very convincing formal application for funds to transfer.
Realistically, what most people call grants is actually discretionary assistance or domestic assistance. There are 15 types of programs, 7 financial and 8 non-financial. The 7 financial discretionary assistance programs are what is meant by "government grant."
Formal grants are where the government allocates money to the states in accordance with a law. Project grants are funding for a fixed period for a specific project. This usually includes fellowships, research grants, scholarships, training grants, construction grants, and evaluation grants, to name a few.
"Direct payment for specified use" refers to financial assistance given directly to individuals, private firms/institutions to encourage a particular activity. "Direct payments with unrestricted use" is funding with no restrictions imposed on how the money is spent. Direct loans refer to money leant by the government with or without interest and guaranteed/insured loans is the government's promise to pay all or part of any defaulted loans to the lender. Insurance programs assure reimbursement for losses.
All of these discretionary assistance programs can be looked up at www.cfda.gov.
So, what does this mean to you?
Well, navigating the list of government grants will be much easier when you know who the grant is aimed at and how the money is dispersed. It also helps you "track the money" of formal grants. Knowing where the money is going will help you discover which benefits programs are available to you at the state level.
Just remember that grant availability changes often. Government priorities change regularly, and so does their funding. Check the government grant web site (www.grant.gov) regularly to see if any new grants matching your description have opened up.
***Update***
I have done a bit of research for you. These
Government Grant Experts can help you get the grants you deserve by helping you get out of debt fast. You can find out if you qualify for a Government Grant for free!
Click here to fill out a short form to save your finances and get out of debt as early as this week!
