You are buried in debt, your credit cards are maxed out, and you still have car and house loans to pay. Even making a minimum payment is causing a lot of stress on your part and you are still mired deep in debt. In such a predicament, what should you do? For some people, getting a debt consolidation loan is the best option. But, a loan needs to be repaid. What if you can raise funds without ever needing to pay them back? You probably think this is just wishful thinking, but with free government grants, you can have the funds you need to get out of debt without incurring another debt.

Grants.gov, the official Web site of the Federal Government grants program states that there is nearly half a trillion dollars in grant money ready to be disposed of to individuals and business who are in need of financial assistance. There are almost a thousand grant programs offering different forms of assistance to a wide variety of business and individuals. These grants help fund an array of special cases such as higher education assistance, health care assistance, business financing, home ownership and debt consolidation.

The federal government as well as other organizations offers programs that are especially designed for debt relief assistance. However, it is important to understand that financial assistance is not just handed out for the asking. You have to pass a certain eligibility requirement to be able to avail of these government grants.

You should also first locate the right government grant program that is appropriate for your need. The internet offers a great resource for finding a suitable grant program. You can find a wealth of information about government grants, as well as links to various organizations offering grant programs, at the official government site, grants.gov.