Government Grants To Pay Off Credit Card Debt?

Posted by CreditCardGuru

politician handing out moneyQ: I was up late last night and there was an infomercial selling a book about grants. The guy was saying there were grants for everything. Grants to pay off car, to pay off credit card debt, and many others. It was late and I didn’t watch the whole program but are there really government grants for this stuff?

A: I know those commercials quite well and in times like these, they are more common now than ever before. But is there any truth behind free government grants to pay off debt, specifically credit card debt? Is this a promise that is too good to be true?

Well for starters, let’s talk about who’s eligible for government grants…

  • In order to be eligible for U.S. government grants, you will need to be a U.S. citizen.
  • Each grant has specific eligibility requirements (i.e. below a certain income, perhaps studying for a certain occupation, etc).
  • Government grants are geared towards specific uses (i.e. tuition, starting a business, etc). If you apply for a grant, you must be eligible for its purposes and use the funds solely as designated.

Are there government grants for credit card debt?
So these late night infomercials suggest that credit card debt grants exist AND that are seemingly available to everyone! Do these really exist or are they just trying to sell you their books and programs?

Well as someone that has worked in the credit card industry for years, personally I have never heard of grants to pay off credit card debt. Although I had pre-conceived notions that these claims were bogus, I kept an open mind and investigated further.

What did I find?
I searched tirelessly on grants.gov and CFDA.gov (both official government site which catalog all the grants) and could not find a single grant related to credit card debt. If they actually existed, you would find them there!

Conclusion? This is another one of those things that sound too good to be true, because… well… it is too good to be true!

But grants may still help your debt problems indirectly!
So we’ve concluded there are no credit card debt grants but that doesn’t mean there aren’t government grants that might indirectly help your situation. Let me explain…

There may be grants that could help save you money in other areas of your life. In turn, you would have more cash to spend on other things… like paying off your credit cards!

For example, let’s say you get a grant for going to school. So instead of paying all of the tuition out of pocket you are only paying a fraction of it since the grant pays the rest. That leaves you with more cash in your pocket (that would otherwise be spent on tuition) so in theory you could use more of your own money to help your debt problems. But when it comes to grants, please watch out because there are a lot of scam books/programs out there making false promises about them.


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10 comments... read them below or add your own

  1. Kendra Knighten September 14, 2014 at 12:28AM

    I need help to pay off my credit cards please. I went part time at work and went to college and now I am struggling, stressed out in many ways that I am unsure what my husband would think when I tell him I messed up. I went to college because I hate working retail and I need help financial for my kids. I have the same question as everyone. How did you find all these grants and how do you know which ones are real. I am very worried about giving out personal info due to identity theft. Knowing every move I make is stupid.

  2. Lori gratton August 16, 2014 at 12:36PM

    I need help without using a credit card to get money to help me pay my bills plzs.

  3. David August 11, 2014 at 8:46PM

    Notice that no IRS or Government website Mentions that the International Promissory Note nor the Promissory Note being illegal or fraud! Nor can you find any law or statute that says that this Secret Money Negotiable Security Instrument is a scam, fraud, unlawful, or illegal to pay off your debts.

    I can show you how to pay off your mortgage loan or any bank loan or debt within 90 days with your full cooperation in giving us the items needed by using a newly discovered Secret Negotiable Security Instrument under U.C.C. §3-104, that has been hidden over 80 years and has recently been accepted by banks and the IRS as debt payment under various laws.

    • Vincent November 24, 2014 at 10:37PM

      Help eliminating debt in 90 days . Trying to find out how it can be done

  4. Gregory Gakin April 12, 2014 at 5:27AM

    Somehow, I just got to were keeping up with all of my credit card payments became impossible and after becoming late with a few payments they wanted impossibly large payments. It turned into a monster rut were there is no return. I am a disabled vet on a fixed income and I really need to get my credit fixed. (HELP ME!!!) I don’t know how to get this taken care of short of claiming bankruptsy. And that I do not want to do.

  5. Hazel strange December 23, 2013 at 7:46AM

    Yes. I am in a credit card debt up to my ears and I found out if you have bad credit you can’t get a good govment job I really need my credit card clear up are there really government programs out there to help me because I really need me good governmentjob to take care of me my kids with out my credit clean up I can’t get a good govment job

  6. maria rosales November 13, 2013 at 7:38PM

    how to get more information on what grant is the right one

  7. edgar ross June 23, 2012 at 10:19AM

    well yes this is all true, but the fact remains that a lot of people are involved in programs like community action or maybe they are a donator to agencies that offer child care or help with food costs, and these people in fact DO qualify for grants that they don’t know about because they don’t directly ask for them, the thing is, yes these books you speak of do offer some opportunities that are to good to be true but you are wrong on some parts, in fact there are agencies out there giving grants to native Americans, African Americans, Mexican/Latino, as long as they have green cards, so yes as long as there legal, there is a grant for them, I’m only 18 and i have made $122k just in grants for tuition and grants for books studying programs, and supplies to help better me in my field like computers and parts, plus with that money i gave my dad the money to completely wipe out his 14 thousand dollar credit card debt.

    • Karen September 12, 2012 at 8:44PM

      Thank you for this info. I have been searching endlessly for grants for school & personal. Could you please tell me the name of some websites. Also perhaps the names of grants, and the steps to receive. It seems as though there are many out there, but the info is hidden..

    • george August 3, 2013 at 10:17AM

      Do you have to be a minority to get these grants? My daughter wants to go to college but I cannot help her. I am in credit card debt from trying to start my own on line business to make money but have only made more debt.
      How did you find all these grants and how do you know which ones are real. I am very worried about giving out personal info due to identity theft.

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