Free Grants – Are They Truly Free?
Many people across the country perk up their ears when they hear the term "Free Grants," even before they find out exactly what the term means. Unfortunately, free grants from the government are not free and are not distributed to any person or company that filed a request for such a grant. So, what are free grants and are they truly free? And is there a way to get free money quickly? Find out the answers to these questions below and learn everything you need to know about free grants money.
What are Free Grants?
According to the book American Government & Politics, written Jay M. Shafritz, a grant is, "A form of gift that entails certain obligations on the part of the grantee and expectations on the part of the grantor." Many people think it means that the US government hands out free money on demand, without too many strings attached.
This false assumption gets endorsed by books and ads that advertise free grants to lure people into different scams. However, as you can see from the quote above, getting government grants obligates the recipients to adhere to certain terms determined by the government. While it is unfortunate that the government does not hand out free money to its residents, the grants it provided certain people and organizations are intended to make for a better living environment and better society.
What Types of Government Grants are Available?
Most of the federal grants that the US government gives out go to organizations, state and local governments, and institutions that plan projects that intend to benefit certain sectors of the population. Such projects include a state-wide program to re-train displaced workers, a regional water conservation program, a neighborhood street paving project, and more.
When a grant is given to a certain organization, it will be strictly monitored by the government to make sure the funds are properly spent. Also, the government grant receivers have to meet certain performance standards as their project moves forward at least once a year. Failure to meet any of the obligations determined by the government will result in penalties that sometimes go as far as jail time, so the "free money" given by the government is not truly free.
‘Free’ Government Grant Scam
There are people who take advantage of the misconception of government grants to scam people out of their money. A scam like this usually involves people getting messages saying they are entitled to X amount of money. Such messages lure people in by telling them that because they pay their taxes on time or perform any other duty, the government will give them free money!
Free money ads can be delivered to anyone, and they can be very compelling. After the congratulations in such ads, they ask the recipient to provide his/her bank account information or even pay a “one-time processing fee.” Sometimes, scammers even provide a money-back guarantee in case the grant falls through. Free money scams are intended to make people give out their financial information and use it to steal money, so you are advised to stay away from messages that tell you that you are entitled to money out of the blue.
Does Free Money Exist?
While free money grants are a scam, there is one way that allows you to get free money without any problems. As of today, there are nearly $60 billion of unclaimed money that belongs to US residents who are unaware of it. How is this possible? Over time, people make certain changes in their lives that involve their finances, and as a result, money gets left behind. If you ever closed a bank account, changed your address, switched jobs, etc., there is a big chance you are entitled to unclaimed money.
Unclaimed money, AKA missing money is just that – money that was left behind by its owners. According to the laws in the country, authorities that hold money for their residents are forbidden from using it, so you can search for money registered to your name in any state you lived in.
In some cases, money remains unclaimed for years, and if its owner is deceased, their relatives can claim the money for themselves. By using an unclaimed money directory, you can find out if you or your relatives are entitled to money or assets. The average amount of unclaimed money Americans are entitled to be 900$, and some have even gotten hundreds of thousands of dollars and even millions when they search for missing money.
Free grants are given to those who want to contribute to society, and they have quite a few strings attached. If you receive a notice that you are entitled to grants and free, money, you should ignore it or report it to local authorities to avoid scams. To get money that belongs to you without the fear of falling victim to a scam, use an unclaimed money search directory that will track down your missing money in no time!