Billions of dollars in government grants are awarded each year. Teens seeking financial aid can find grants to go to college, start a business or run community service projects.
Considerations
Grants are awards of financial assistance for a specific purpose. They are not loans. This is a huge relief to teens who are overwhelmed at the thought of having to repay thousands of dollars.
Sources
Grants are issued by the U.S. government and private foundations.
Types
Teens may be especially interested in applying for business, education or minority grants. Community service grants are also available.
Uses
Grants can help teens start businesses, pay college tuition and receive housing subsidies. Grants are also available through nonprofit organizations such as Do Something, which offers grants for teens creating or leading community service programs.
Application
Completing an application—known as a grant proposal—is called grant writing, which is competitive, so teens may want to hire a grant writer to edit a proposal. Grant writers can write the entire proposal, but it is more expensive.
