Federal Grants Reviewed

A Federal grant is money from a federal agency to the recipient, to carry out the grant's purpose, or to support growth or development in a certain area.  They could be to help people start a business, pay for college, pay off their bills, or to prevent foreclosure.

The area of Federal grants is huge, with currently over 1,000 agencies handing out grant money.  Generally, they come in two forms:

Project Grants - These are awarded to aid in development of business, social services, arts, health care (paying your bills is an example, or to get treated), to improve technology in your home or business, or to get a degree.

Formula Grants - These are federal grant money that is allowed for any purpose the grant states.

Categorical Grants - These grants are narrow in purpose, and focus on specific industries such as housing, business, education, etc.

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