If someone says they do not like free money, you can quickly mark them a liar. Who in the world does not like free money? You may have found that free money is often hard to come by. But lo, tear the wool from your eyes and see the truth: there are plenty of ways to get free money, especially from the government. Consider the following ways to fill your pockets with free cash!
- Get Free Grants for School
- Get Free Food
- Get Money to Buy a House
- Get Money to Pay your Utilities
- Get Free Money for Healthcare
- Get Free Money for Tax Prep
- Get Free Money for Losing Your Job
You heard right! It is indeed possible to get free money if you are considering going back to school. In particular, there are really great ways that many people will qualify for.
Pell Grant: The Pell Grant is a grant given by the government to help students finish their undergraduate studies. And it is 100% free money. You do not have to pay it back, nor do you have to track exactly how it gets spent. The only requirement is that you fill out the FAFSA and be enrolled in school. What's the FAFSA, oh just the Federal Application for Free Student Aid. Filling it out is a must if you plan on going to college. There are all kinds of free money you might be eligible for!
Tax-Credit Reimbursement for Graduate Studies: Oh fear not, the youngins are not the only ones who get free money for school. If you are considering getting your graduate degree, you may qualify for a tax credit. How you may ask? Well, if you pay any tuition out of pocket, that generally makes you eligible for the tax credit. There is a cap on how much you can get back in a lifetime, but you can get back thousands of dollars just for paying tuition!
There are other educational grants available to you, as well. However, you MUST file the FAFSA in order to qualify.
If you are lower-income, you may qualify for SNAP, otherwise known as food stamps. This is a program that essentially has the government paying for your groceries. However, as we mentioned, it is specifically for lower-income individuals, but you do not have to be poverty level or even unemployed. Many working Americans qualify for SNAP, and you may too!
SNAP is not the only program, either. Programs like CHIP are also available if you have children to get you extra nutrients! Be sure to explore all of the options that may be available to you!
Have you wanted to own your own home but just are unable to scrounge the money for a down payment? Well, the government is here for the rescue with free money! Depending on which state you live in, you may qualify for grants to help you with a down payment and closing costs. Generally, these kinds of grants are specifically for low-income borrowers, but it never hurts to apply! You may find that you are eligible for a grant that is as much as 5% of the base loan. That is easily thousands of dollars the government just gives you to help you get into a home!
And by the way, do not let lack of a down payment stop you from buying a home. The Federal Housing Administration offers loans that only require a down payment for as little as 3% of the principal loan. If that sounds exciting, get with a lender of your choice to learn more.
Having trouble paying for heating or AC? The government offers grants to low-income citizens who may be struggling to make ends meet. The Low Income Home Energy Assistance Program offers free money to eligible people. How much money is available or whether or not you are eligible for this kind of assistance depends on the state you are in.
Certain low-income individuals may qualify for premium assistance or tax credits to help offset the cost of insurance. To be eligible, you need to be participating in the marketplace created by the Affordable Care Act. Check with your local state marketplace to see whether or not you may qualify for these credits. It will depend on how much money you make, how many people live in your home, and which state you live in.
Tired of having to pay for tax prep? Well, if you fall within a certain income requirement, the IRS offers free tax prep services for you. This is especially handy if your taxes happen to be a bit more complicated than a simple W-2 filing. Again, you have to be making below a certain amount, but it is free to apply, so it does not hurt to check it out!
However, if you do just have a simple W-2 tax return, you can already file for free! Services like Turbo-Tax or H&R Online will allow you to file a single state W-2 for free. That is a lot better than using a pro account for something you can easily do on your own!
Did you lose your job and are getting stressed out? The government has got your back! You may be eligible for unemployment! Usually, you need to be at the job for at least six months and need to have been fired or laid off from your job. If you qualify, you can get a portion of the previous salary you were earning at the previous job.
You also typically need to provide regular evidence that you are looking for employment. This includes submitting applications you have given as well as possibly providing evidence for having gone to interviews. Unemployment also is not permanent. It depends on what state you live in, but unemployment does not last more than a couple of years at the absolute most.
As you can see, there are plenty of ways to get free money from the government! All you need to do is take the time to look!
