Does anyone know what grants i can get to out of college loan payments?
Question:
Answer:
There are no grants to pay off student loan payments
The government is NOT in the business of giving away free money for the sake of giving away money. There are no grants for paying bills, no grants for paying off credit cards, no grants for getting out of debt and no grants for simply fattening your wallet.
Grants are free, but it means OBLIGATION. You will be obligated to do as the grant sets out to do. Grants have objectives, and your purpose must fit the objective of the grant.
For one, you have to write the grant application and the grant application is not a simple document - you have to explain how your purpose for applying for the grant fits well with the objectives set out by the grant.
There is a stringent review process through a committee. You will compete with other applicants for the grant money, and this grant review committee will evaluate the merits of each proposal. Only those that they feel exemplifies the objective of the grant will be approved.
You can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support your purposes.
Even if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently.
Note though that these grants generally support non-profit organizations, intermediary lending institutions, and state and local governments. Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program. Individuals especially for personal purposes are not eligible for federal grants.
Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs
What type of field do you work in? Some loans are forgivable under certain circumstances i.e. job, disability, peace corp, etc.
What type of loans do you have?
try www.scholarshipexperts.com
If you have a Stafford loan, the only forgiveness program is if you are a teacher in a Title I school district. If you have a Perkins loan, they are to numerous to go into here. Contact the aid office at the school you attended for a listing. There are also some companies that, if you get hired, part of the benefits package is that they will assist in paying off your loans. There is also the military. Remember that when you borrowed the money you promised to pay it back...there's no easy way to 'get out' of repaying your student loans.
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