Government loans can help pay for education, housing, businesses, and more. Federal grants are for organizations. Learn the difference between grants and loans and how to apply.
Government loans, grants, and benefits are different
Government loans – money you borrow from the federal government and pay back with interest. Government loans can help pay for:
- School
- Buying a house
- Starting or growing a business
Federal government grants – are not usually given to individuals for personal expenses. Grants are for organizations that work with government-funded programs and projects, including:
Universities
Research labs
Non-profit organizations
State and local governments
Law enforcement
Business
Government Benefits – Help people with food, health care, housing, and more. Each benefit program has its own eligibility rules, application process, and deadlines. Unlike government loans, government benefits usually don’t have to be paid back. If you need financial help, use the USAGov Benefit Finder to find government benefits you may be eligible for.
Types of federal loans for individuals
You can find government loans for:
Students who need help paying for school.
People who want to buy a home or make home repairs or improvements.
Small business owners interested in funding their businesses.
Individuals or businesses in need of help after a disaster.
Farmers and ranchers.
Applying for government loans
Each federal loan program has its own eligibility requirements, application process, and deadlines. To apply for a federal loan:
Read about the program’s eligibility requirements, application process, and deadlines. Ask for help if you need it.
Fill out the required forms and provide documentation. You may be asked to provide proof of income, identification, and information about what you need the loan for.
Be aware of government “free money” scams
Some people may try to scam you by offering fake government grants, loans, or benefits. If someone asks for your personal information or money to get a grant or loan, it’s probably a scam. Learn how to recognize, avoid, and report “free money” scams.
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