Annually, millions of Americans face economic hardships. The number of individuals struggling with growing financially is on the rise in recent years. Individuals having a living paycheck to paycheck and are having a very hard time making ends meet is countless.

Taking out personal loans is an option for those who are suffering financially; however, the problem is that loans need to be repaid with interest and in a certain timeframe, and often the interest rates on personal loans are astronomically high, driving those who were already struggling into further economic crisis. Furthermore, personal loans aren’t an option for everyone. Those who have bad credit, which often occurs as a result of financial hardships, may not be able to secure a loan. Loans will not be approved to people who have had bad credit history as lenders view them as red flag.

There is however, a way for those who are in need of financial assistance to secure the funds they need without taking out a low. Learn the way below.

What is a Grant?

Money that is provided by the federal government, non-profit institutions or for-profit organizations is regarded as a grant. The money that is awarded through a grant never has to be repaid, which is why grants can be an extremely beneficial way to secure the funding that individuals need without going even further into debt. With a grant, people who have had bad credit history can also have the opportunity of securing funds.

Most grants are issued to organizations and institutions such as hospitals, research centers, institutions of higher education and non-profit establishments. There are other personal grants available as well and other forms of government assistance that do not need to be refunded.

It’s important to note that personal grants cannot be used to pay off personal debt, such as credit cards; however, these grants can be used to provide financial assistance for those who are struggling to pay for a variety of life’s necessities. If you are in need of extra money and are interested in learning about personal grants, read on to find out more about the options that are available to you.

Types of Personal Grants

There are lots of personal grants which are government funded that are intended for personal use. Below are some of these grants:

  • Educational assistance
  • Employment and career development
  • Food and nutrition
  • Child care
  • Healthcare
  • Disability assistance
  • Energy assistance
  • Disaster relief
  • Housing and living assistance
  • Military grants for both veterans and those who are in active duty
  • Tax relief

If paying for your housing is giving you a hard time, if you have been overwhelmed by student loan debt, you have extensive medical bills or you are having difficulty with time paying for healthy food, there may be a federally funded personal grant for you.

Where to Find

You can visit to find a full list of the different types of government grants that are available for your personal use. This website serves as a comprehensive database of the different types of federal grants that are available. From here, you can browse through the different options that are available, as well as learn about eligibility requirements, and how to apply. You can even download different grant applications.

How to Apply for Personal Federal Grants

It is important to understand that this free money is not available to everyone even though personal government grants can be viable option for those struggling financially and to make ends meet. You also need to understand that it is not easy to secure. You will need to meet stringent eligibility requirements, and even if you do meet the requirements, you will still need to apply in order to prove your eligibility and for the government to determine whether or not you should receive funding.

You will need to submit a detailed application as well as any requested documentation to apply for a federal personal grant. A proposal might also be requested from you. Submission of all paperwork should be done before a speculated date so that your application would be considered.

What to do next?

After supplying all the necessary credentials, authorized people will be called to review your application to determine if you are eligible for the grant or not. There is a chance that you could be rejected; for example, while you may be eligible, someone else may be in a far worse situation than you are in. in this situation, the government may decide to grant that individual the funding that you have applied for. If your grant request is approved, receiving the funds can take time; weeks or even months. But, with all of that said, if you are approved for a federal personal grant, the money you receive could be extremely helpful and ultimately help you overcome the economic hardships you are facing.

Should You Apply for a Personal Grant?

Applying for a personal grant can be a viable option if you are struggling from meeting ends meet. If you are also unable to secure a loan or you feel taking a loan is not a best option for you, you can also go for a personal grant. 

Your financial situation can easily and positively be affected by a personal grant so therefore, applying for a federal grant could certainly be beneficial to you if you find yourself in such a state. If you do decide to apply, make sure that you choose a grant that meets your specific needs and read through all of the fine print to determine whether or not you are eligible. If you are eligible, make sure that you find out exactly what you need to do and provide in order to apply.

Bottom Line

As lengthy as applying for a personal grant is, if the government does not determine that you are eligible for the process and issues an approval, grant will not make any difference in your life. A grant can provide you with financial assistance to improve your situation.