I was browsing thew the internet on how to get a grant and there are a lot of websites that gurantees you a grant for paying bills, getting out of debt, paying rent etc...Is it a spam??
2007-02-19 08:59:09 · 5 answers · asked by nice_n_thick1980 1 in Business & Finance ➔ Personal Finance
YES it is a scam. Grants exist, but NOT in the way these websites and companies portray it to be
I suggest you read the warnings FTC has issued against these "grant" companies:
http://www.ftc.gov/opa/2004/03/grantresources.htm
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt134.htm
Here is also one of the warnings issued by the Better Business Bureau http://www.concord.bbb.org/tips_timesharescams.html
The government is NOT in the business of giving away free money for the sake of giving away money. There are no grants for paying bills, no grants for paying off credit cards, no grants for getting out of debt and no grants for simply fattening your wallet.
Grants are free, but it means OBLIGATION. You will be obligated to do as the grant sets out to do. Grants have objectives, and your purpose must fit the objective of the grant.
For one, you have to write the grant application and the grant application is not a simple document - you have to explain how your purpose for applying for the grant fits well with the objectives set out by the grant.
There is a stringent review process through a committee. You will compete with other applicants for the grant money, and this grant review committee will evaluate the merits of each proposal. Only those that they feel exemplifies the objective of the grant will be approved.
You can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support your purposes.
2007-02-19 13:26:58 · answer #1 · answered by imisidro 7 · 0⤊ 0⤋
This is a scam, yes... the only thing you can get cash-back on is paying bills off via a creditcard or debit card with a rewards program. Now, you can save money on interest and such by paying things off early or by improving your credit score... but you don't get money in your pocket off of these.
2007-02-19 10:52:16 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It sure is spam. A grant is a no pay back loan for school.
2007-02-19 09:05:20 · answer #3 · answered by Irish 7 · 0⤊ 0⤋
Yes.
2007-02-19 14:54:48 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Try this: http://www.prosper.com/
It was on the news the other night!
2007-02-19 09:43:59 · answer #5 · answered by Deanna 2 · 0⤊ 0⤋