Some say that there is billions of dollars in free government money and that you can simply apply for grants and get $50,000 just by filling out an application. That sure sounds like a great offer, but what's the catch with government grant money. Is there really tons of cash just laying around waiting to be claimed by individuals?
Here's what's going on...
Business owners and students have a real opportunity to obtain government grant money. Only a small percentage of the available grants are actually for individuals. But that small percentage is still a lot of money. While nearly a trillion dollars will be given away this year, most of that cash is provided to researchers, communities and other non-personal interests.
But there is millions of dollars that is provided in free government money to individuals who want to start their own business, want to seek a college degree, and are buying their first home. Individuals can apply for grants to help them get out of debt, pay for daycare and and so forth.
One of the misconceptions, however, is that this money is provided by the government. While a lot of these funds are provided by various government agencies, there is probably more money offered to individuals by private foundations and special interest groups. The exact amount is unknown, but it is in the billions and the money is all tax-free and never has to be repaid.
Is it easy to get this money?
That depends, but for most people it is not so simple. First you have to have access to the resources that will help you find and apply for these funds. That's not always easy because the money comes and goes quickly, so when you apply for grants it is critical that you have access to a database that is current and up-to-date.