At one point or another in your life there is a very good chance you will need financial assistance. Whether it is money to pay for school, cash to pay off debt, or a loan to start your small business, you can’t always do it alone.
In many cases it is recommended not to do it alone. For instance, you can pay $20,000 a year for college tuition, or you could cut those costs in half by obtaining scholarships and federal financial aid that will pay a portion of your college expenses. Similarly, you might be able to come up with $50,000 to start your home-based business, or you could obtain a low-interest loan that will allow you to use “other people’s money” to get your business off the ground and running.
Often times when in need for cash, the terms of the loan do not seem to take priority. It might just be a matter of obtaining the money no matter the circumstance. Unfortunately, those needs can come back to haunt you. When you need to act fast rather than act smart, you could sign an agreement to pay a high interest rate or some other unfavorable terms.
There is, however, one option that many Americans overlook when it comes to obtaining personal loans. The federal government and private instructions give away billions of dollars in free grant money every year to individuals that need financial assistance. This is money that never has to be paid back.
Not just anyone can receive free grant money. You have to meet the minimum qualifications by being at least 18 years old and an American citizen. Beyond that, the criteria to receive these funds vary from grant program to grant program. Some require a simple application, while others may have a more extensive approval process.
