A cash crunch is often encountered by so many of us. When it comes to borrowing money the economy which willingly lends us a helping hand often throws its hands up as readily for reasons best known to itself! These three tips might well come in handy when you sit down to make an application for a personal grant:
1. Put your best foot forward: Most of the decisions whether to approve grants or not are made largely on the basis of your credit history. So if you have held a bank account but were less than diligent in dealing with your financial commitments and schedules, then it is no good to furnish the details of that account as you are only inviting a rejection. Give the details of any other account (such as, where possible, your salary account) or a current account which is at least ‘neutral’ in its maintenance.
2. Keep the grant figure as low as possible: Unless your income is a formidable figure, it is best to ask for a moderately sized grant as it tends to make the decision easier for your financiers. The advantage in doing so is that the grant might come with a limit that can be approved with very little ‘processing’ and ‘scrutiny’.
3. Proactive paperwork: If you have been sanctioned grants in the past, attach them to the application even if they are not required. If you have a letter of good financial standing from any reputed source, tack a copy of the same. In all cases where you have changed addresses or employers or no longer use a particular telephone number, make a note of the same and provide the previous as well as the current documents such as letter of references from employers, legal documents establishing sale or purchase of house etc. They show your application in good light and increase confidence of the financier!
4. Highlighting your needs and profile: You should make sure that no noteworthy achievement of yours goes unnoticed by the grantors or the admissions committee. You might have been selected for grants previously or you might have a brilliant academic record and they need to be emphasized so that your chances for being selected for the grant are enhanced.
5. Lesser Fees: If you have a previous degree or other study program, the credits of which can be adjusted against the one in question, then a proportionate reduction is fees is more than likely. Check about things like credit transfers etc. when you make an application.