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
As of 2014, the application process for U.S. federal grants begins with registering at the Grants.gov website and downloading the necessary application forms. After the forms are completed, the application must be submitted online. The response time varies from a few days to several weeks, and an application status can be tracked using the Grants.gov site.Full Answer >
In most cases, recipients do not have to repay grants. The most common types of grants that individuals receive are educational grants. However, there are a few circumstances where educational grants have to be repaid.Full Answer >
Get grants for college by applying with your school's financial aid department. Private grants may also be available through organizations and donors. These sometimes have their own application process.Full Answer >
The Veterans Administration and several private organizations, including Hivers and Strivers, the Veterans' Opportunity Fund and Street Shares, all fund investment grants aimed at helping veterans start businesses after returning from war. The stresses of combat make assimilating to an office job difficult for many veterans, making entrepreneurship attractive.Full Answer >