Understanding Grants

A grant is an award of money, often given by the federal government. Grants are not available to just anyone and are often confused with government benefits. You can't acquire a grant for personal or monetary gain or to to pay off credit card bills. However, there are other ways to take advantage of them. As of 2010 there are over 1,000 federal grant programs available in 21 different categories, including housing, health, natural resources and transportation. There are steps you can take to find out if you qualify for a grant, and it's totally free.

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  Visit grants.gov to find out if you qualify to receive a grant. Few grants are available to individuals, except for educational grants, but if you are part of an organization that needs one, you can apply directly online. Available federal grants are listed along with their requirements and the online application. Organizations that may be eligible include government, education, public housing, nonprofit, for-profit and small businesses.

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  Apply for educational grants at studentaid.ed.gov. Whether you are a teacher or a student, there are grants available to help with education. These grants include the Federal Pell Grant, which is usually awarded to low-income undergraduate students who have not earned a bachelor's or a professional degree, and the Teach Grant, which provides grants to students who intend to teach. These are just some of the educational grants available for students.

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  Check with the U.S. Small Business Association to find out if you qualify for a small business grant or loan. These grants generally support nonprofit organizations, intermediary lending institutions and state and local governments. SBA.gov lists different grants available to help small businesses.

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  Contact your local government to find out what types of federal grants may be available through them. Some may include mortgage grants for first-time homebuyers, rural housing and veterans.