Five Types Of Federal Government Grants

Federal Government Grants are available to a great many people. Most require you to be a United States citizen and eighteen years of age. There are five basic types to consider.

1. Formula funds are only available to state agencies. This money is given to agencies to distribute to the people that they feel are in need of them. However some money may be specified to go to a certain department like urban development or forestry.

2. Project funding is the most common type of program. It is given for specific projects. There is usually competition for the money, as there is only so much allocated. These people or organizations make a written application for the funds. The applications are looked over by a group of peers. Each one is rated on points. The one with the highest rating is awarded the funding.

Some examples of project funding are money given to pay for nursing programs. There might be funds for low income housing. Some may provide assistance for the elderly in certain cases.

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Five Types Of Federal Government Grants