Is there such a thing as free money? Maybe not. However, there is money available for things like going to school, starting a business, paying medical bills and a number of other thing. This money is free in the means that you don’t have to pay it back, however, you will need to do some work to get it.
A grant is “free money” that you don’t need to pay back. You do need to qualify to receive the money. This is very discouraging for most people but those who take the time and receive a grant, often feel it was all worth it.
Step one to getting a grant is knowing the need or reason you want a grant. The more specific your answer, the easier it will be to search for a grant that fits your needs.
Step two is knowing the type of grant, you might need to use. A federal grant is awarded from the federal government and used for a public purpose. A private grant is awarded from a foundation, forporation or non government type agency. A private grant is often the easiest to get. A public charity grant is awarded from a charitable organization. Individual grants are awarded to an individual person from businesses or other public institutions. Non-profit grants are given by organizations for specific related reasons. Lastly a sponsorship grant is for non-profit organizations or a person with a sponsor.
Step three is looking high and low for grants. A simple internet search might bring you results, however, you want to call places related to your need. Check your local library. Be sure to ask family, friends and co-workers, they might know of a grant.
When you find a grant, be sure to read it and study it. Know what you’re filling out and applying for. If you don’t understand something, ask questions. Know the ins and outs of what you’re applying for. If you turn in a grant wrong, you might be disqualified before anyone looks at your application.
Next, fill out your grant application. Make sure you are very detailed, check your spelling and be sure to turn the grant in on time. There’s usually more questions as the grant process proceeds forward.
When you’ve received your grant, don’t think the process is over. You may be asked to report where the money went or other proofs. Keep in contact with the people giving you the grant. Don’t forget about taxed. Not all grants are taxable, however, it’s better to be safe then sorry. It’s worth a quick call to the accoutant.