Updated: Jan 18, 2025

Discover financial assistance opportunities that could help you tackle your goals today. Learn about grants that you may already qualify for and how to apply for them quickly.

1. Pell Grant

The Pell Grant is a federal program providing need-based financial aid to low-income undergraduate students pursuing higher education. Unlike loans, it doesn’t need to be repaid, making it a valuable resource for students struggling to afford college.

• Eligibility: Based on financial need, cost of attendance, and enrollment status. You must be enrolled in a participating institution.
• Amount: Up to $7,395 for the 2025 academic year.
• How to Apply: Complete the Free Application for Federal Student Aid (FAFSA) at fafsa.gov.

If you’re planning to attend college or return to school, the Pell Grant is one of the easiest ways to secure funding for tuition, books, and other education-related expenses.

2. Housing Choice Voucher Program (Section 8)

The Housing Choice Voucher Program, commonly known as Section 8, helps low-income families, elderly individuals, and people with disabilities afford safe and sanitary housing. This program provides rental subsidies directly to landlords, reducing the financial burden for tenants.

• Eligibility: Based on income (generally less than 50% of the median income in your area) and family size.
• Amount: Varies by location and family size, typically covering most or all of your rent.
• How to Apply: Contact your local Public Housing Agency (PHA) to apply. Visit hud.gov for more details.

Since waitlists for Section 8 can be long, applying as early as possible is crucial to accessing this vital assistance.

3. Small Business Innovation Research (SBIR) Program

If you’re an entrepreneur or small business owner with innovative ideas, the SBIR program offers funding to support research and development. Administered by federal agencies, this grant can help you turn your concept into reality.

• Eligibility: Small businesses with fewer than 500 employees engaged in R&D with commercial potential.
• Amount: Phase I grants are typically up to $150,000; Phase II can exceed $1 million.
• How to Apply: Visit sbir.gov to find opportunities and apply directly through participating federal agencies.

For those in tech, science, or other innovative fields, this grant is a game-changer for growing your business.

4. Emergency Rental Assistance Program (ERAP)

The Emergency Rental Assistance Program provides financial aid to renters who have fallen behind on payments due to financial hardship. This grant helps tenants stay in their homes while catching up on rent and utility payments.

• Eligibility: Renters experiencing financial difficulty, earning less than 80% of their area’s median income.
• Amount: Varies but can cover up to 18 months of rent and utilities.
• How to Apply: Contact your local housing authority or visit your state’s ERAP website for application details.

If you’re at risk of eviction or struggling with rental payments, ERAP can provide immediate and critical support.

5. Child Care and Development Fund (CCDF)

The CCDF helps low-income families access affordable childcare services while parents work, attend school, or participate in training programs. This program ensures children receive safe, high-quality care.

• Eligibility: Families earning below a certain income threshold, with children under 13 years old.
• Amount: Varies by state and childcare provider.
• How to Apply: Contact your state’s childcare assistance program through childcare.gov.

This grant can alleviate the burden of childcare costs, freeing up your income for other essential expenses.

Final Tips for Applying

To improve your chances of securing one of these grants:

• Act Quickly: Grants often have application deadlines or limited funding.
• Gather Documentation: Have proof of income, identification, and other required documents ready.
• Follow Instructions: Pay close attention to eligibility criteria and application guidelines.

Grants are an invaluable resource for financial relief and personal or professional growth. By applying for one or more of these top opportunities, you could unlock the assistance you need to achieve your goals.