Don’t be Fooled by Claims of Government Grants for Debt Relief

Conduct an Internet search for debt relief and you will likely find links to hundreds of sites suggesting you get a federal grant to help pay off your personal debts.

While there are plenty of government grants (search for grants on as well as other assistance programs available, there are no federal debt-relief programs to completely absolve you of your outstanding debts. Unless, of course, you decide to file for bankruptcy, and then that’s a whole other matter.

As the federal government notes at their website: 

Many people arrive at after seeing unofficial advertisements that might have them thinking that the government will give “free money” to essentially anyone for anything. The government will not give you money just because you ask for it.

However, if you are looking for options to help you manage day-to-day expenses and provide financial assistance, there are programs available based on need and outlined criteria.

Facts about Getting Government Assistance 

If you need assistance and want to find out what programs the federal government offers, here are two important facts you should know.

First, government assistance programs don’t always provide cash and, if they do, there may be conditions and limitations placed on them. Generally, benefit programs offer assistance with things such as job training, nutrition, education, health care, and similar needs.

Second, to receive government assistance you need to complete an application and meet the eligibility requirements of each program.

Programs the Federal Government Offers

If you are drowning in a sea of debt, can’t find a job, need help with your home loan, or have similar financial issues, the government programs that offer assistance include:

  • Grants, Loans and Unclaimed Money
  • Homes and Housing Assistance
  • Jobs and Education Assistance
  • Senior Citizens and People with Disabilities
  • Children and Family Assistance
  • Health and Nutrition Assistance
  • Agriculture and Rural Assistance

As you search for the right program to fit your needs, remember there are differences between grants and loans:

You are required to pay back a loan, often with interest. You are not required to pay back a grant, but there are very few grants available to individuals. Most grants are awarded to universities, researchers, cities, states, counties, and non-profit organizations.