How to find Grants for Debt

Grants can bring you relief from debt. Before taking drastic measures like filing for bankruptcy, consider applying for debt relief through the government, which is coming to the aid of thousands of Americans through various kinds of grants. Pinpointing all the grants available to you will involve some research and paperwork, but the end result may help ease your burdensome debt.

Instructions

How to Find Grants for Debt

1

Assess your debt and build your debt relief plan. If you find yourself struggling to pay off credit card debt, loan consolidation may be an option. Grants are not readily available to pay credit card debt. If you have difficulty paying student loans, speak directly to the lender or financial aid department. You may be eligible for deferment or forbearance. When your mortgage is the source of your debt, try contacting the lending institution. There are programs designed to assist in extreme cases. The Department of Social Services in your state may offer an emergency grant to qualified applicants.

2

Determine your qualifications. In order to receive a grant, you must qualify. There are a variety of grants designed to help those in a specific situation. The majority of grants are available to assist single mothers, elderly, minorities, business owners, and students. Once you determine your category, you can narrow down the search.

3

Search for grant programs. Finding a grant will involve some research. Look for federal and state grants. Grants.gov is a good starting point. You can filter grants by keyword or agency. When searching for grants, you may come across a number of websites marketing secrets or tips to get free grants. Avoid any company that charges a fee for finding grants. Visit you the local Chamber of Commerce and ask for a publication which lists available resources. Also, visit your local Social Security Branch Office to learn more. Often these agencies will have pamphlets available in their lobbies which list government programs in the area.

4

Apply for the grant. When you find a grant and meet the qualifications, apply immediately. Funding is limited. The government sets aside a certain amount for aid. Grants are awarded on a first come, first served basis. The application process is not instantaneous. After submitting an application, expect to wait before receiving a response.