Obama Grants were designed to improve the education system, give help to small businesses, and improving the quality of life for Americans. The government has increased the amount of funding to existing grants in order to help America be able to compete in today’s global market.
Obama Grants fall into three different categories. These categories are Institutional grants, Individual grants for college, and Small Business grants.
Institutional grants are given directly to the institutions to help them upgrade their infrastructure and to the study programs to help better prepare student to be able to compete in the global market place. The money received from the government can also be used to hire a highly skilled teaching staff. Some educational institutions that are benefitting from these grants are community colleges, MSI (Minority Serving Institutes), and Rural education.
Individual grants are just as they sound, they are given to low-income students be able to continue their education. The government increased the amount of funding for grants such as the Pell Grant. The Obama administration has put nearly 40 billion dollars in to education grants, which doubled the amount of funding for the Pell Grant. Examples of Oboma grants for college are Pell Grants, TEACH grants, and SMART grants.
Obama grants for small business are not given to individuals to start a business; however it is given to an existing business that helps support its community. Non-Profit organizations (NPO) may receive a grant in order to run their projects to help in the betterment of the community. An example of a NPO is a child day care that enables women and single parents are able to go look for a job without worrying about child care. Obama Grants are also given to companies that manufacture electric vehicles, such as Ford and GM.
In order to promote rural development, Obama grants give funding to farmers in so they can compete in the world market. There has been 61 billion dollars given to grants to help fund the agriculture related activities.
There are also grants for individuals to be able to make home improvements. They are intended for low-income families to be able to remove any health hazards from their house. The money that is given to grants has helped improve the economy and create jobs.