For those who are having financial difficulties, there are loans and grants available from the federal and state governments. Although these taxpayer-funded programs aren’t precisely “free money,” they do assist people and families in finding resources to aid with costs like food, electricity, college tuition, and even a down payment on a house.
There are requirements specific to each program, many of which are based on income. Having that data available can help the application process move more easily. Consider requesting financial aid from the government if you’re feeling burned out by the high expense of living.
Continue reading to learn about government programs that basically provide free money for expenses such as rent, child care, tuition, and other necessities.
Top Government Programs That Will Pay You Money
Supplemental Security Income
One government program that assists low-income and resource-poor handicapped individuals and children is called Supplemental Security Income (SSI). Although Social Security revenues are not used to pay for the program, the Social Security Administration administers it.
According to the SSA, the maximum amount a qualified person might get each month in 2024 is $943. A qualified individual may get $1,415 if their spouse qualifies. $472 may be awarded to an essential person who looks after the qualified person and resides in the household.
National Association of Unclaimed Property Administrators
The National Association of Unclaimed Property Administrators (NAUPA), a network inside the National Association of State Treasurers, is in charge of managing Unclaimed.org.
You might be able to locate lost or unclaimed money here, whether it’s $11.50 that you didn’t know was in an abandoned bank account or tens of thousands of dollars in unclaimed life insurance payouts.
NAUPA supports the website MissingMoney.com, which is also worthwhile to visit. According to NAUPA, states hold onto the unclaimed funds and assets of one in seven Americans and return more than $4 billion annually.
Social Security Disability Insurance benefits
You normally have to pay Social Security through FICA taxes for at least five of the previous ten years in order to be eligible for Social Security Disability Insurance. Furthermore, you must be disabled in a way that keeps you from working and earning more money than what the government refers to as “substantial gainful activity.”
You can review the several requirements to be eligible for this benefit on the Social Security website.
Special Supplemental Nutrition Program for Women, Infants, and Children
Under the WIC federal grant program, mothers and their under-five children get nutritious meals, nutritional counseling, and referrals to different social, welfare, and healthcare providers.
It is for low-income women who make at least 185% of the federal poverty level, as stated on the Food and Nutrition Service website of the United States Department of Agriculture. The amount varies, but a qualifying mother with two children would get $919 a week.
Free Tax Help
One of the many locations offering free tax assistance is the Internal Revenue Service (IRS). While the assistance may not be entirely free, receiving free tax assistance might save you money that would otherwise be spent on software or tax advice.
If your adjusted gross income is $79,000 or less each year, IRS Free File is tax preparation software that can help you file your taxes.
Down Payment Assistance Programs
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Look into homebuyer programs that provide down-payment assistance if you feel that homeownership is financially within your reach, but you just need a helping hand. A low-interest loan (cheap money), a zero-interest forgiving loan (free money), or a grant for a down payment (free money) can be available. Additionally, some organizations assist with closing costs.
Find out what programs offer assistance with a down payment by contacting the government agency in your county or city. Numerous details on first-time home buyers and down payment assistance programs offered by state and local governments may also be found on the U.S. Department of Housing and Urban Development website.
Low-Income Home Energy Assistance Program
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The Low Income Home Energy Assistance Program (LIHEAP), which offers subsidies to individuals to assist with utility costs, is governed by the Department of Health and Human Services.
Each state determines a household’s eligibility for a grant; however, Benefits.gov states that anybody participating in SNAP or another program may be automatically eligible.
Grants have varied from $500 to $1,500 in the previous few years and are given directly to the utility. They are normally dependent on income, the number of occupants in the home, and the type of fuel used to heat or cool the property.
Free or Low-Cost School Lunches
Your children could be eligible for free or reduced-price school meals if you come from a low-income family. The School Nutrition Association states that free lunches are available to families with four members who make $40,560 or less annually during the 2024–2025 school year. For reduced-price meals, a family of the same size making $57,720 or less would be qualified.
The Federal Register is a good place to check your income eligibility, but be aware that the rules might be unclear. To find out if you qualify, you may always get in touch with your child’s school.
Temporary Assistance for Needy Families
Temporary aid for Needy Families (TANF), sometimes known as welfare, may have a bad reputation among certain people, but for many, the monetary aid it offers is a lifesaver.
The state where you reside will determine how much you get. For instance, Benefits.gov states that the maximum monthly payment for an adult and two children in Oklahoma is $292. A family of three in Washington would receive $654 a month, assuming they have no other sources of income, according to the Washington State Department of Children, Youth & Families.
You must apply for TANF through the administering agency in your state and be qualified if your income is low (note that various states have varying standards for what constitutes low income).
Recover unclaimed money
Unclaimed money is money that is technically due to you rather than free. The National Association of Unclaimed Property Administrators estimates that one in ten Americans have unclaimed money. What precisely is considered unclaimed money? It can be an unclaimed life insurance payout, an uncashed salary, a missing savings bond, or a long-forgotten utility company deposit.
If the owner cannot be found, the unclaimed money is given to the state; this is frequently the result of a clerical error or businesses keeping an outdated address on file. Go to the National Association of State Treasurers website, unclaimed.org, to see whether you have any money that needs to be claimed.
Conclusion
The government does offer financial aid, but there are also grant scammers who pretend to provide you with free money in exchange for your identity theft. The government doesn’t often offer free money to citizens, especially when it comes to funding personal needs or launching a new business. When it does, it never does so on social media. Getting individuals and families in need back on their feet and toward financial independence is the aim of state and federal programs.
