Grants are funds that are disbursed by one entity to a recipient that in most cases is usually a non-profit organization, though individuals also qualify for grants independently. The party responsible for disbursing the funds is usually a corporation, Trust or government department. This article will deal on how to obtain grants for seniors in Canada.
Incurring day-to-day expenses such as health care, job training, education, transportation, food, rental housing, home renovation and mortgage assistance for most seniors in Canada is usually an uphill task, one that they usually seek relief for. This is accomplished by making an application for a grant from various entities that are in a position to offer Canadian seniors relief. What makes grants a much better option than loans is the fact that they don’t have to be repaid.
Grants are classified into various types depending on the entity disbursing the funds.
Foundation- These are charitable organizations that provide funds to Canadian seniors such as the Greater Saint John Community Foundation; a unilateral charity whose mission is directed by a board of volunteer individuals. Their main source of money comes from well-wishing public citizens who like to contribute to the wellness of the Saint John community.
Another such charitable organization is the Nissan Canada Foundation which not only offers funds to organizations whose aim is to help out Canadian seniors, but also provides cars to entities such as elder abuse agencies and Meals on Wheels.
National- These are grants that are provided by both national and federal programs to ease off the burden for Canadian seniors. The Senior Homeowners' Property Tax Grant is one such grant offered by the Canadian government through the Canada Revenue Agency. Its main aim is to provide financial assistance on an annual basis to seniors with low income earnings in order to help them reduce the cost of property taxes. There is a prescribed procedure that needs to be followed in making an application for this kind of grant.
The Canadian government also offers educational grants to Canadian seniors. This grant though is not exclusive to Canadian seniors and applies to individuals suffering from permanent disabilities too. For those seniors that are eligible, they receive an annual grant of about $2000 every academic year.
Provincial- These are grants that are offered by the Federal states at a local level. Depending on the State that one lives in, Canadian seniors are sure to find a grant program that targets their specific financial needs.
Just like the different types of loans out there, grants can be used to meet a wide array of needs. Some of these needs include job training, education, mortgage assistance, rental housing, medical equipment, health care and many others.
The easiest and most convenient way of finding grants is online. There are very many websites that provide helpful information on where to find grants for seniors in Canada.
If you would like to gain access for Canadian grants that are designed for seniors, then sign up for grant information here.