Sunday, November 16, 2008

Grants for Financial Debt

Grants for Financial Debt

The federal government offers different types of support programs to citizens with debt obligations. Citizens may avail of different financial debt grants given that they are eligible. Eligibility for financial debt grants depends on the type and scope of the program. For instance, there are grants specifically intended to help farmers fulfill their debt obligations, while other grants provide education and training on financial management. Most grants are available for low or medium income citizens.

Fisheries Finance Program

    The Fisheries Finance Program is under the Department of Commerce and the office of National Oceanic and Atmospheric Administration or NOAA. The grant is authorized under the Merchant Marine Act. The Fisheries Finance program offers direct loan grants to cover particular fisheries costs. The program offers refinancing opportunities to help individuals satisfy and complete their current debt obligations. However, it's important to note that the loans granted under the Fisheries Finance Program do not support overcapitalization initiatives, particularly in the fishing industry. Further, the grant provides funding and loan opportunities to Aqua cultural and shore side facilities. Individuals may also get buyback financing to withdraw or buy fishing facilities and permits from overcapitalized fisheries. Eligible individuals include distributor/processors of fishery products and commercial fishermen. Documentation requirements include tax returns, business history, financial statements and business records.

    Department of Commerce

    1315 East-West Highway

    Silver Spring, MD 20910

    301-713-2390

    nmfs.noaa.gov/mb/financial_services/ffp.htm

Loan Repayment Program for General Research

    The Loan Repayment Program for General Research is a program under the Department of Health and Human Services and the office of National Institutes of Health. The grant is authorized under the Public Health Service Act. The program seeks to provide financial assistance specifically to cover educational loan repayment. Further, the program specifically targets health professionals working in field research under the NIH. If the individual has incurred a considerable amount of educational debt as opposed to their financial capacity, they may qualify for refinancing given that they agree to work as NIH research or laboratory employees for at least 3 years. Student and loan records are required for proof of eligibility.

    U.S. Department of Health and Human Services

    Building 2, Room 2E18

    2 Center Drive

    Bethesda, MD 20892-0230

    301-402-1283

    lrp.nih.gov

Nursing Education Loan Repayment Program

    The Nursing Education Loan Repayment Program is a grant under the Department of Health and Human Services and the office of Health Resources and Services Administration. The program is authorized under the American Recovery and Reinvestment Act of 2009. The program helps support professional registered nurses or RNs through the provision of loan repayment grants. The program provides repayment opportunities to RNs in order to encourage retention and recruitment.

    Lisa Walsh Room 8-36

    5600 Fishers Lane

    Rockville, MD 20857

    301-443-0197

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