From school fees to small enterprises, government grants may assist a wide range of projects and efforts. Many people, however, are unaware of the several government grants programs that are accessible. Did you know that the government offers a variety of grant programs to assist individuals and businesses? If you’re not aware of government grants or have only heard of a couple, you might be astonished at the number of options available.
We’ll go through a few governments grant programs that you might not be aware of in this blog article. We’ll explain who is qualified for each program, how to apply, and how much money is provided. So, whether you need money to start a business or grow an existing one, or if you need help paying for college or housing, there’s almost certainly a government grant program that may help. Continue reading to find out more.
1. Pell Grants
Pell Grants are need-based financial aid for undergraduate and graduate students. These non-repayable federal government grants are often provided based on financial need as assessed by the Free Application for Federal Student Aid (FAFSA). For the 2019-2020 academic year, the maximum Pell Grant payout is $6095. Although it is the most well-known and often used grant program, there are numerous more. Furthermore, Pell Grants are not limited to students from low-income families.
2. TEACH Grants
The TEACH Grant Program gives funds of up to $4000 per year to qualifying students who want to become teachers in a high-need discipline, such as science or math, or who agree to teach in a low-income region. To be eligible for a TEACH Grant, you must sign a contract promising to work as a full-time teacher for four years at a low-income elementary or secondary school. The award amounts fluctuate, but for the academic year 2021-2022, the highest sum is $4000. Additionally, recipients may be eligible for additional payments from their state or school district.
3. Iraq and Afghanistan Service Grants
You may be eligible for the Iraq and Afghanistan Duty Grant if you are not qualified for a Pell Grant, but your parent or guardian died as a result of military service in Iraq or Afghanistan after September 11, 2001. To be eligible, you must have been 24 years old or younger when your parent or guardian died, and you must not have been enrolled in college on a Pell Grant when they died. The highest grant amount for the academic year 2021-2022 is $5935. Moreover, it is currently one of the greatest government grants available.
4. Leveraging Educational Assistance Partnership (LEAP) Grants
The Leveraging Educational Assistance Partnership Grant program aims to assist states in supplementing the federal Pell Grant program. Each state determines the amount of money awarded based on need, although it can be as much as $1200 each year.
To be eligible for a LEAP grant, you must:
-Be enrolled in an undergraduate degree or certificate program at a LEAP participating school
-Demonstrate financial need.
-Not have already earned a bachelor’s or professional degree.
-Meet your state’s eligibility requirements (which may include residency requirements).
5. Supplemental Educational Opportunity Grants
These grants, as the name implies, are meant to supplement other types of financial help. They are given to undergraduates who have a financial need that is established by the FAFSA. The maximum grant amount each academic year is $4000. Additionally, students who get a Pell Grant are eligible for an SEOG immediately. SEOGs are also provided to qualifying students on a first-come, first-served basis.
To be considered for a SEOG, you must:
-Submit the FAFSA by the priority deadline for your state.
-Demonstrate exceptional financial need as determined by the FAFSA.
6. Federal Work-Study
Federal Work-Study is a need-based program that gives part-time work to financially needy undergraduate and graduate students, allowing them to earn money to help pay for education. Community service and jobs relating to the student’s topic of study are encouraged as part of the curriculum. During the school year, students can work up to 20 hours per week and full-time during vacation times. Work-study employment is also available on and off campus, with some firms offering flexible work schedules.
7. Community Development Block Grants
The Community Development Block Grant (CDBG) Program is a versatile program that offers money to communities to meet a variety of community development issues. Housing rehabilitation, economic growth, public services, infrastructure development, and activities that help low- and moderate-income people are all possible uses for CDBG monies. CDBG monies may also be utilized to help disaster relief and recovery efforts.
8. The Low-Income Home Energy Assistance Program (LIHEAP)
LIHEAP, or Low-Income Home Energy Assistance Program, is a government financed program that assists low-income families with their energy expenses. LIHEAP offers energy crisis grants to help low-income families pay for energy services and weatherize their homes, as well as continuous support to help low-income families pay their energy bills. LIHEAP subsidies can also be utilized to help with energy-related home repairs.
9. The National Housing Trust Fund (NHTF)
The National Housing Trust Fund (NHTF) is a federally financed program that gives grants to states and local governments to help them create, preserve, and manage affordable rental housing for extremely low-income and very low-income families. Although the NHTF was established in 2008, the first round of funds was not granted until 2016. It is the federal government’s largest-ever investment in affordable housing. NHTF is also the first new housing production initiative in more than a decade.
10. Pass-Through Grants
A pass-through grant is a form of the federal grant that is handed to a state or local authority. The money is subsequently distributed to smaller government units, organizations, and other groups by the state or municipal government. The primary goal of Pass-Through Grants is to provide financing for public-benefit programs and projects. Furthermore, many people are unaware that the federal government distributes such grants. A state or local government must have a strategy in place for how the money will be utilized in order to be eligible for a Pass-Through Grant. The federal government must also approve the scheme. The state or municipal government can then distribute the monies as they see fit after receiving the grant.
To summarize, the aforementioned are actual government grant programs that you may not be aware of. These programs can help you with a variety of things, including school expenses and small businesses. Make sure to do your homework to discover if you’re eligible for any of these fantastic chances!