Individuals, women and minorities can access grant money for business and education.
People seek grant money for a variety of reasons. But two of the most important involve education costs and business-start up costs. These grants come from several different sources, including the federal government, state governments and private organizations. For individuals, women and minorities in search of financial assistance, these grant opportunities can be the key to achieving a long-held dream.
Cal Grants
The California State Aid Commission offers a series of Cal Grants to California residents. Candidates must be graduating high school seniors or GED holders who plan to attend a qualifying California college on a full-time or part-time basis. They must also be a United States citizen or a permanent resident in financial need. Candidates can apply for the Cal Grant A, the Cal Grant B or the Cal Grant C. The Cal Grant A gives $11,124 to pay for college. Recipients of the Cal Grant B award get $1,551 for books. The Cal Grant C award awards $576 for books and $2,592 for tuition costs.
Teacher Education Assistance for College and Higher Education Grant
Students preparing to become teachers are eligible for the Teacher Education Assistance for College and Higher Education (TEACH) Grant. The program is open to undergraduate and graduate students. They must be above the 75th percentile of their SAT, ACT or GRE admissions test. Applicants should also have at least a 3.25 grade point average (GPA). Selected undergraduate students will receive $4,000 per year until they finish their degree. Graduate students will get up to $8,000 to pay for their program. Applicants must demonstrate financial need by completing the Free Application For Federal Student Aid and must enroll in a school that participates in the TEACH Grant program.
Targeted Small Business Assistance Program
Iowa business owners can apply for the Targeted Small Business Assistance Program. It was created to provide assistance to Iowa businesses that are at least 51 percent owned by the disabled, minorities or women. To qualify for the program, a business owner must ensure her business is classified as a targeted small business (TSB). To do this, the business must prove that it is a for-profit enterprise with less than $4 million in annual gross sales. If granted TSB designation, the business can receive up to $50,000 in equity grants. To get the grant money, however, the business owner must also have at least 10 percent for start-up costs.
Montana Indian Equity Fund
The Montana state government gives money to new and existing business owners of Native American heritage. To qualify for the grant, the business must be majority-owned by individuals belonging to a federally-recognized tribe or the Little Shell Chippewa Tribe. Grant money can be used for business development and to purchase equipment, supplies and business vehicles. The fund can either match money the business owners have or provide a loan. The Montana Indian Equity Fund awards 14 grants of $7,000 each. The grants will be divided equally among Montana's seven Native American tribes.
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