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Debt Reduction Grants

Debt is something that plagues many Americans, especially those attending college. The purpose of debt reduction grants is to assist those in serious debt who are attempting to repay their student loans, credit card repayment or other obligations. In many cases, the applicant should have already completed school and begun repaying their student loans for a certain period of time. Usually, these debt reduction grants are designed for those who have been paying on loans, but find themselves in more debt than they feel they can handle. The payout amount is most often determined by the federal government, who looks at the total amount of outstanding balances on the student loans, and observes the progress on repayment. Of course, you may not realize that debt reduction grants do not only apply to college students.

Believe it or not, the United States actually supplies debt reduction grants to other countries. For example, USAID has offered countries with rainforests the option to reduce their debt to the US if they agree to preserve a certain portion of the forests. The United States then agrees to consider a large portion of the debt repaid. This is an interesting form of debt reduction grants that does not necessarily provide actual money to the recipient, yet it still allows their debt to be lessened. Of course, there are other forms of debt reduction grants that are provided by private funding which are especially designed for college students in need of some financial assistance in order to repay their loans. Many of these organizations offer the grants to a particular group of people, such as those attending graduate school, or women or minorities. If you feel that your debt is becoming too overwhelming, looking into some form of debt reduction grants is an excellent option that can provide you with help, and shed some light at the end of the tunnel.

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