Money makes the world go ‘round. This saying has been around for a long time, but is still true today. Countless Americans can find themselves in need of some extra money. If you are in need of some extra cash, the government may be able to help. People can get financial help from the government with:

• Unclaimed Money
• Government Assistance Programs
• Government Grants
• FTC Recovery of Funds

Unclaimed Money

Many people see ads about “unclaimed money” but don’t realize that this is a legit opportunity. Sadly, there may be times where people do not get money that rightfully belongs to them. For example, let’s say that you quit your job but missed your paycheck. That paycheck that belongs to you would go into your state’s unclaimed money system. There are a variety of different types of unclaimed money. Some common examples include:

• Forgotten bank accounts
• Life insurance policy payouts
• Utility deposits
• Forgotten paychecks

You can review if you have any unclaimed money by checking with your state’s unclaimed property office. There are billions of dollars that are waiting to be claimed by its rightful owner. The best part? Your state doesn’t need sensitive information in order to find your funds. You can just give your name and go from there!

Government Assistance Programs

The government realizes that there are countless Americans that could use support with their bills. That’s why they have a variety of assistance programs that can help common bills that people have. Some popular assistance programs include:

• Low Income Home Energy Assistance Program (LIHEAP)
• Temporary Assistance for Needy Families (TANF)
• Supplemental Nutrition Assistance Program (SNAP)
• Supplemental Security Income (SSI)

Low Income Home Energy Assistance Program (LIHEAP)

Utility bills can be costly. LIHEAP is a program that can support people through:

• Bill pay assistance
• Helping with heating and cooling energy costs
• Energy-related home repairs
• Energy crisis assistance

If you are someone that needs financial support with home energy costs then you may be able to qualify for this program. In fact, individuals that are already on programs like SNAP, SSI, and TANF may be able to automatically qualify for this program.

Temporary Assistance for Needy Families (TANF)

This government program is a great option for families that want to achieve self-sufficiency. TANF refers to a block grant that the government gives states to run their own version of TANF. That means eligibility and program assistance options will vary based on the state you live in. However TANF can provide benefits like:

• Up to 5 years of cash assistance
• Job training
• Food assistance
• Child care

Supplemental Nutrition Assistance Program (SNAP)

Food is a necessary part of life (if you don’t eat, you will die). That means this is a bill that everyone deals with in one way or another. However, the costs of food can be expensive, especially if you are a part of a large family. That is why the government offers SNAP. This program can provide funds to eligible recipients on an electronic benefits transfer (EBT) card. This card can be used at stores that accept it as a form of payment. The amount that will be deposited onto this card every month will be determined based on income level, family size, etc.

Supplemental Security Income (SSI)

This is another government program that can help people get the cash for their basic needs like food, shelter, and clothing. However, it can only help those that are 65 years old, blind, and/or disabled that meet income requirements (youth that are blind and/or disabled may still be able to qualify). Typically, the most amount of benefits that a person can receive will be updated every year. However, as of January 1st, 2024, the federal benefit rate for an individual is $943 and $1,415 for a couple. While this is the federal rate, other states may provide additional assistance on top of this amount (but not all of them).

Government Grants

Grants are literally just free money that doesn’t need to be repaid. There are a variety of government grants available that can help with the cost of education. Some of these grants are:

• Federal Supplemental Educational Opportunity Grant (FSEOG)
• Pell Grant
• Teacher Education Assistance for College and Higher Education (TEACH) Grant

Federal Supplemental Educational Opportunity Grant (FSEOG)

Students can benefit from this grant opportunity by getting up to $4,000 a year. However, not every school offers this grant option. That’s why it is important to see if your school participates by getting in touch with your school’s financial aid office.

Pell Grant

The maximum amount that students can get from this grant opportunity can change every year. However, as of 2024 – 2025 the grant amount that students can receive is up to $7,395 (which is subject to change after June 30, 2025). This grant opportunity can only help eligible undergraduate students that are in financial need.

Teacher Education Assistance for College and Higher Education (TEACH) Grant

Unlike other grant opportunities, this one has an obligation that students must meet after receiving the grant. If a student does not complete their teaching service obligation, then the grant would turn into a loan that needs to be repaid (with interest!). These grants can provide up to $4,000 to eligible students.

FTC Recovery of Funds

Sadly, there are scammers in the world that look to take advantage of people in need. If you have ever been scammed out of money, there may be a way for you to recover some of those funds. Sometimes, the Federal Trade Commission (FTC) can get people some or all of their money back. There are a variety of steps involved to getting back these funds and it can generally take months. However, if they are able to recover your stolen funds, then you may be able to get the money in the form of a check that you would receive through the mail.

Overall

There are a variety of opportunities for people to get free federal financial assistance. Financial assistance can come in a variety of different shapes whether it be through unclaimed property, government programs, government grants, or even through FTC recovery. Regardless, it is important to see what you may be able to benefit from, especially if you are dealing with financial hardship.