The United States of America issues federal government grants for economic benefit came from the taxes paid by American citizens, deducted from their salary, value added to the products necessary for our daily lives, and other resources of it. Federal grants are financial aid given by government agency supporting people who needs assistance for certain reasons like starting up a business, enrolling at law or nursing school, improving your home, paying your bills, or even for individuals like single mother, student, disabled, and minority. This is also for motivation as authorized in a law of American Constitution.
Grants are government assistance for a person; it may be loan, an entitlement or benefits. But these should not be used just for the advantage of the government. These are not used for obtaining properties for the government’s benefit. Agencies are responsible on providing grants for American citizens. Not all grants are given by government, some are allocated by different non-profit institutions like corporations which are not for profit, charitable trusts, or foundations and these are collectively known as charities.
By the way, charities and the federal government are in a similar way of giving grants. They are supporting the grantees through the same funding requirements. Government Grants may be open. The grantee can use the funding within the outer limits of the institution where he or she received the grant. They can also be restricted according to what’s the purpose of the financial supporter.
The Cooperative Agreement Act of 1977 and Federal Grant including Section 6304 Title 31 of United States Code (law.cornell.edu/uscode/html/uscode31/usc_sec_31_00006304—-000-.html) describe the federal grant. In which it states that this is the way reflecting the connection between the national or federal government, the state or the LGUs (local government units) and its whole body wherein the main purpose is to transfer the money to the local government or State or to other receiver to perform the purpose and needs of the public allowed in a US law rather than purchasing, leasing, or bartering a land or property or services that results to the direct advantage of the government of United States. In addition, the agency, state, the local government and the recipient must not see on huge involvement as they execute the activity written on the agreement.
If the agency must seen only on assisting and scheduled observing on grantees. If they violate limitation, cooperative agreement is required by the law. On the other hand, federal contract is needed by the law by the time government is seen on taking advantage on grants like obtaining services and goods instead of giving it to the public.
The following are the types of grants available in America:
o Block Grants – This type of grant is provided by the national government into state for a general function.
o Project Grants – This type of grant on the other hand is allotted to support projects referring to researches such as scientific and medical ones. The typical length of time when applying for this type of grant is at least three years so you must have definite qualifications by the time you apply.
o Formula Grants – This type of grant is awarded as law commanded.
o Categorical Grants – This type of formula grant can only be spent on distinct purpose. Grantees should match up the portions of the money. Formula grants are 33% regarded as categorical one. More or less 90% dollars are allocated for categorical grants to assist the public.
o Earmark Grants – This type of grant are openly chose in appropriations of US lower house. This grant gain lots of controversy because it heavily involves the compensated political lobbyists functioned as their security. Congressional Research Service discovered 3,023 earmarks with a total of $19.5 billion (en.wikipedia.org/wiki/ 1000000000(number) during FY1996 appropriations while they found earmarks of 12,852 with a total of $64 billion during FY2006.
There is a variety of United States Federal government grants and loans that you can take advantage. These are opportunities that are given for you to make your life different after you suffer from the economic depletion over the pass years. Grab these government grants as soon as possible because limited slots are being given away each year.