Financial Resource

Every year the federal government sets aside billions of dollars to be distributed in government grants. Many Americans are led to believe that simply applying for government grants will solve all their financial problems. Rarely does an individual fill out a form and receive a check to pay off all his/her bills. In fact, the only time that this is remotely possible is if the government issues a tax rebate check.

Most of the time, grants are given to non-profit organizations and government institutions that, in turn, provide benefits programs for the masses. Those hoping to use grant money to get out of debt need to follow the money trail in order to obtain assistance.

The first place to start this research is at the Government Grant website or CFDA. These two web sites list all available government grants and detail eligibility requirements. Another source is Govbenefits which links up Americans with public services that are funded by grants. It has a lengthy questionnaire that determines eligibility for a plethora of government programs.

Of course, some grant programs are quite well known and easily accessible. Credit consultation services receive government funding to assist families with budgeting and debt management. The Department of Housing offers programs to assist families who are at risk of losing their homes. Individuals laboring under medical bills can obtain financial assistance through family services, hospitals, and health departments. And, people who are behind on their heating bills can get help through the Home Energy Assistance Program (the United Way is a very good resource to finding these services).

Some grant money is given directly to state or city governments for programs such as TANF (Temporary Aid for Needy Families) or Food Stamps. Check your local state website to see if there are other programs available paid for with federal grants.

While there aren’t any grants or programs designated to magically pay off your credit card bills, utilizing the many grant funded programs will go a long way in helping you get out of debt.

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