Definition: Defining the Meaning of Loans and Grants
Loan - In finance, a loan is a debt provided by one entity (organization or individual) to another entity at an interest rate, and evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower.
Grant - Non-repayable funds or products disbursed by one party (grant makers), often a government department, corporation, foundation or trust, to a recipient, often (but not always) a nonprofit entity, educational institution, business or an individual. In order to receive a grant, some form of "Grant Writing" often referred to as either a proposal or an application is required.
Due to the limited information currently available online in regards to disability grants for disabled students and reputable loan sources, Disabled World is compiling an online resource of financial assistance programs available including grants for disabled students, low income families and singles, the elderly, and people with disabilities.
Financial aid programs reviewed cover lending institutions for low income people in major world countries including Australia, Canada, New Zealand, UK, and the US.
Having good credit can help you in a surprising number of ways. A good credit history can result in getting that dream job, lower interest rates on car loans and mortgages, and better rates on your insurance, according to the Insurance Information Institute (I.I.I.).
Students with disabilities are advantaged when it comes to grants and scholarships. Since the IDEA made it illegal to segregate students with a disability, there has been a major push to offer grants for disabled students to pursue their educational goals. Not only are there grants for individual students, but the technological support that enables disabled students to participate in matters as well.
Disabled Students Allowances provide extra financial help if you have a disability or a specific learning difficulty like dyslexia. They are paid on top of the standard student finance package and don't have to be repaid. Full-time, part-time and postgraduate students can apply for Disabled Students' Allowances.
Links to Useful Home and Housing Finance Information and Quick Calculators:
- First Home Owners Guide to Mortgages
- Home Budget Calculator for Planning Household Finances
- Guide to Home Buying for People with Disabilities
- Online Loan Calculator for Home, Personal or Business Use
- Disability Housing and Home Loans for Disabled Americans
Links to U.S. Government Grants, Loans, and Unclaimed Money Information:
Listed below are various loan programs available including grants for disabled people, low income home ownership, mortgages, down payment loans, car and vehicle modification loans, personal loans, consolidation loans and college or education funding sources.
- Catalog of Federal Domestic Assistance
- Rural Development Loans
- GovLoans.gov - Find the Right Loan for You
- Grants.gov - Find and Apply for Government Grants
- Benefits and Government Assistance Eligibility Tool
- Home Loans - Federal Housing Administration (FHA) Loans
- Unclaimed Money from the Government
- Small Business Loans
MyMoney.gov is a product of the U.S. congressionally chartered Federal Financial Literacy and Education Commission, designed to strengthen financial capability and increase access to financial services for all Americans. This website provides tools and resources on the principles of financial education; earn, save and invest, protect, spend and borrow.
Housing Grants for Disabled Veterans
Veterans Affairs (VA) provides grants to Service-members and Veterans with certain permanent and total service-connected disabilities to help purchase or construct an adapted home, or modify an existing home to accommodate a disability. Two grant programs exist: the Specially Adapted Housing (SAH) grant and the Special Housing Adaptation (SHA) grant. More information is available here.
If you are a government department, lending institution or agency who's main purpose is providing low income and disability loans please contact us so that we may list your resource as a funding reference.
In the United States, grants most often come from a wide range of government departments or an even wider range of public and private trusts and foundations. According to the Foundation Center these trusts and foundations number in excess of 88,000 and disperse in excess of $40 billion every year.