Types of Federal Grants-Benefits of Federal Grants Money Online
The United States government offers federal grants to its citizens as an economic aid as a financial aid for assisting people with low income, thin bank balance and below low economic conditions to meet with their crisis and lead a satisfactory livelihood. Every year the government sets aside billions of dollars to offer as grants programs to individuals, families, organizations, children, single mothers and others.
These grants, however, require multiple eligibility criteria and a regulated process for application. The federal funds can be availed from varied government agencies, state government and local government agencies which are all regulated by the Federal Grant and Cooperative Agreement Act of 1977. Analyze the benefits of these grants that have been tailored to your need and apply for free grants money with the right credentials.
Types of Grants by the Government
Categorical grants are spent for specific defined purpose and recipients have to match a portion of the federal fund. Almost 90% of federal aid dollars are used for this grant.
Project grants are given to certain qualified individuals for research projects like medical purpose, with a normal duration of three years.
Formula grants provide funds in accordance with law.
Block grants are provided by the federal government for general purpose use to state or local governments.
Earmark grants are provided by the US congress to a very limited number of individuals or entities.
Benefits of Government or Federal Grants
There is a plethora of benefits to avail from Federal grants as these are legalized, authorized and registered funds allocated for the improvement of lives and the community as a whole. Though the application process can be hassling, but these are certified and approved by the government. The lists of benefits to be noted are:
There are almost 1000 grants catering to every sector of life such as arts, agriculture, business, community development, education, food and nutrition, housing, health, law & justice, humanities, science and technology, transportation etc.
- It offers estimated funding with certain number of awards.
- These are fully documented and legitimate funds by the government, hence fewer chances of deception.
- It becomes easier for applicants receiving federal grants to avail monetary aid from other government and private sources.
- Organizations getting federal grants have access to huge credibility and can also attain wide public exposure.
- No extra charges are required to apply for these grants.
- These are multiple eligibility criteria hence, only people or organizations with the accurate documents and details stand the chances to qualify and not any random citizen or party.
- All the procedures are completely streamlined. The funds are allocated to universities, researchers, non-profit associations, city, state and local agencies who subsequently allot the money on need basis.
- The grants are need-based offered to low-income people to meet with their regular needs of life. These are non-taxable, non-repayable and is interest-free. Even with a bad credit history you can avail them.
However, the fund allocation follows several intricate procedures, demands accurate credentials, lots of paperwork and involves multiple legal processes hence, making it a difficult to qualify for them.
Over the years, these non-repayable grants and loans have helped sustain thousands of lives, enabling a balanced economy and fulfilled dreams. As of 2014, over 1000 grants programs, catering to diverse categories of social life, are offered by almost 26 federal grant-making agencies. Besides these, many private non-profit organizations and charitable organizations also extend a helping hand in allocating funds.
Visit to - http://federalgrantsmoney.blogspot.com/
See More - debt relief grants,free money for bills,grants for pregnant women,free money pregnant women,grants to pay off debt,help paying bills for single mothers,grant money to pay off debt,free grant money to pay bills,single mother grants for bills,grants for single mothers to pay off debt,free money for single mothers to pay bills,grants for single moms to pay bills,grants for paying off debt,government grants for single mothers to pay bills,grants for debt relief,grants to help pay off debt,grants for single mothers to pay bills,grants to help pay bills for single mothers,debt relief grants for individuals,free money government grants for personal debt relief,obama housing grant,single mom grants for bills,grants to get out of debt,stimulus money for single moms,free government grants to pay off debt.