Does “Free Money” Really Exist?

  The money from grants (government or other) can be loosely considered free money; the reality, though, is that you do work for it in ways: by mainting your grade point, by community service, or by other service commitments to name a few.  In the past few years we have seen an influx of ads and spam email informing people that they cover for “Free Money” Government Grants.  These ads are false and, despite the promises of the riches you will receive, only serve to lighten your bank account drastically.  The best way to protect your self and not fall victim to these is to inform yourself in the difference between legitimate grants and scam grants.

Fraudulent grants will contact you, offering promises in the form of guarantees and a “simple to fill out questionairre”, and make it appear as the funding is there for everyone.  This is a far cry from legitimate grants.  Yes, there are grants in place by government agencies (Federal, state, and local) but they are highly competitive.  To be considered for, or awarded, one of the real grants you need to search it out and then begin the time-consuming process of the application.  There is no simple form to fill out; it lies upon you to provide the proof that you are in need of financial aid, that you meet all of the guidelines set out as to who the grant is intended for, and you also need to prove that the awarding of the specific grant will not only benefit you…that it will benefit others (community, technology, field of education etc…).  The application process for legitimate grants is a long and drawn out one, though well worth your time and effort.

One red flag to watch for is the “seemingly” small processing fee.  Yes, when in the belief that you will receive thousands of “free money” dollars does render a fee of a few hundred dollars somewhat insignificant.  You will be told you need to either provide or verify your bank account number, and then the funds will be given to you once the processing fee is involved.  Herein lies the scam: you pay the processing fee, but the “grant” never materializes!  This can lighten your account balance by hundreds of dollars, if not thousands. 

If there is a processing fee for a legitimate grant it will most often be subtracted from the grant amount if you so desire. 

Remember: legitimate grantors will not initiate the initial contact with you, you need to contact them and submit a full and concise application.  Legitimate grantors will not bully you or try to instill fear that you will not receive the money unless you provide them with your bank account number.  If you are in doubt, there are numerous websites that dedicate themselves to uncovering different scams and informing the public about them.  One of the more well-known sites that these scams can be found is Snopes.  Always remember, too, that if it sounds too good to be true, it most likely is!