Debt Consolidation Grants Are Not the Focus of Government Money |
By Ashley Russell on April 18, 2011
.jpg.aspx) GET FREE GRANT MONEY NOW! Sounds pretty good right? Who wouldn't want the government to hand them money to get out of debt? In fact there are many companies and programs that claim to be able to get individuals access to this grant money from the federal government. All individuals have to do is sign up for the program. Sounds a little too good to be true...
That’s because it kind of is. One reason there is so much talk about these grants for personal debt relief—but not a real site posted from the government about them—is because they are not directly meant for that purpose. Yes, the Federal government does give out grants every year to applicants. In fact, they distribute millions a year for that purpose; however, the grants do not go anyone willing to take them, instead money is given to applicants who fit the requirements of each specific grant. For example, there are several grants that are awarded to cases that help promote women entrepreneurs. Companies, non-profits, and any other groups can apply with a plan of how to promote women running businesses. If selected by the grant committee, the group will receive a certain portion of the grant total because it specifically pertains to “women entrepreneurs,” which is the reason the grant was created in the first place.
There are some grants that are design for intermediary lenders, which can include programs meant to help loan people money to get out of debt. This means that technically the government’s money is helping people get out of debt, but it is not like they are just handing individuals money left and right. When looking into options, it is important to keep in mind that many people are scammed every year by programs claiming to give out free federal grant money. Also, even if an organization did receive grant money for intermediary lending, that does not mean those savings will be passed on to individuals because there will still usually be fees involved for the program. The bottom line is that free Federal money is the most commonly used tag line to lure unsuspecting individuals into giving away their personal information, so be careful when examining such programs. The government does give out money for free, but this is not generally the case, so companies use this idea to take advantage of unsuspecting victims. Be cautious with any company that promises free money. If it seems too good to be true then it typically is too good to be true. |
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