Federal grants given to state governments for things like the construction of new schools or highway construction and repair are examples of categorical grants. Categorical grants are intended for specific things and are typically accompanied by a set of specific requirements for use.Know More
There are two primary categories of grants that are available through the federal government in the United States: block grants and categorical grants. Categorical grant funds are often granted by the United States Congress. These grants are most frequently given to state governments to complete specific projects, such as infrastructure improvements like maintenance repairs on interstate highway bridges. Because this type of grant usually comes with a set of restrictions and has a specifically stated purpose, it is most useful for the completion of specific, predetermined projects.
Categorical grants can be further split into two categories: project grants and formula grants. Project grants are those categorical grants that are funded for the completion of specific projects, like the repaving of major roads. Formula grants are grants that are given to the states by the federal government in amounts based on mathematical formulas designed to make these grants fair and equitable for each recipient state. For example, if a formula grant takes population into account, highly populated states like California and New York will receive more funding than less populated states like South Dakota.Learn more about Credit & Lending
There are federal grants available to assist low-income people and senior citizens with essential home repairs that would otherwise be unaffordable. These federal grants cover a wide range of home improvement projects. Grant money is distributed to individuals and community groups that cater to low-income individuals or senior citizens.Full Answer >
To apply for a Single Family Housing Repair Grant, the applicant must first satisfy the eligibility requirements of the program, check if the property is within the area of eligibility of the program and then apply for the loan. For the application process, the applicant may go online to apply or contact the Rural Development field office of the state, notes the Benefits.gov website.Full Answer >
The state or federal Department of Education, private foundations, and even the school itself can provide grants for private school students at any level. Depending on the organization, you may need to apply online or through the mail.Full Answer >
When applying for a home grant, the first step is to find a grant program that suits your needs, recommends SF Gate. Check the requirements of the program and the amount of grant money for which you are eligible. Find an approved lender, and fill in the grant application form.Full Answer >