The federal government does not provide any grants for personal financial assistance of debt relief. Any ad or publication that indicates such funds are available is providing false or misleading information. The government often offers grants to those in college or to help individuals starting a business, but not to pay off personal debt.
Don't Fall for Grant Search Scams
Companies claiming to provide services to help people find grants to pay off personal debts are not legitimate companies. They often request a sizable fee to help an individual locate personal grants offered by the government. They promise these can be used for any need, but this is just not the case. The government does not provide any grants for personal financial debt.
Don't fall victim to a scam promising access to grant money to pay off personal debts. Be cautious if you see a grant assistance website promising any of the following:
- Anyone can obtain a grant for any reason: Grants are meant for specific reasons for only eligible people or businesses, and never to pay off personal debts.
- Get as much as you want: Most grant programs place stipulations on how much an individual is able to obtain based on their application, needs and other qualifications.
- Pay a fee to access grant applications: Real government grants are available through official websites that do not require you to pay a sizable fee just to locate the website. Some grant applications do charge an application fee, but not to provide you information about the grant.
Most information you need about grants is available online at no cost. Do not spend your money paying a so-called service to help you locate grant programs.
The Reality of Government Grants
Make no mistake, government grants are real and they are widely available - but for specific purposes only. Government grants have a public purpose. They may be used as stimulation as approved by law. There are no 'free money' grants available for personal debt.
A grant is an award of financial assistance given by a federal agency to a person or business who will carry out the stipulations of the grant and who meets the requirements of the grant program. Individuals will need to consider if they will qualify for the grant by reading the specific details on the grant being offered.
To learn about grants or other government benefits offered to individuals, visit the U.S. Government Benefits, Grants and Financial Aid website to browse through potentially applicable programs.
If you would like to browse through the grants currently available, you can do so by going to the federal government's grant website at Grants.gov. The website is specifically dedicated to providing a thorough overview of the grant program for the federal government.
Charitable Assistance
If you are facing a difficult financial situation, charitable or public assistance may be available for those with low incomes in some circumstances. You may be locate individuals, state assistance programs or charitable organizations willing to provide assistance in your local area, though it's more likely that you'll find help with living expenses than for personal debt.
Talk to family and friends, churches, local nonprofit groups or others offering charitable assistance to see what options may be available. Keep in mind, though, that these types of opportunities are very difficult to locate. A more likely option is to seek a solution that involves debt consolidation.
