Financial Relocation Assistance: A Complete Guide
If you’re considering relocating for work or school, the prospects can be daunting. You’ll need to think about housing and transportation in a new city where you don’t know anyone. What will it cost? How long will it take? And most importantly, how do I make this happen without going broke. The good news is that there are many opportunities available right now to help with relocation expenses. From discounts on moving services to special grants and scholarships for students, there’s something out there for everyone who needs assistance making the move. Here’s what you need to know about financial relocation assistance.
1. Relocation discounts
Depending on the moving company and your circumstances, you may negotiate a discount on your shipping fees. Most major carrier companies have relocation programs that offer fee reductions for long-distance moves. BigLift Shipping is one example of such a program. And if you don’t want to move anything bigger than a backpack, there are also options for shipping. Companies like MoveForLess will even let you keep your stuff in storage while you’re overseas, as long as you pay to ship it back when you’re done with school or work.
2. Find a place to live
The best way to save money on housing is to find temporary lodging that’s cheap and near your work or school. Some options include staying with a friend, renting a room from someone you know, using Airbnb or VRBO to rent short-term lodging, or even staying in a motel for the first few months while looking for something more permanent.
3. Cheap moving services
Moving is expensive, but some companies offer low-cost services that relieve some of the financial burdens. An advice on getting financial assistance for relocation can help you save large amount and companies like AAA Worldwide Moving and Who’s Moving offer affordable shipping boxes at no cost, but they charge for packing materials. You can also try Gumtree or Craigslist to find a mover who will do it for less than $1 per pound.
4. Grants and scholarships
While it’s true that you’ll need a certain academic caliber to get financial aid for school, there are scholarships and grants available for students who demonstrate financial need. The most common of these is the Pell Grant, which can cover up to $6000 per year for students whose families earn less than $20,000 each year. Additionally, the Department of Veterans Affairs offers aid to veterans and their eligible dependents. Another option is the National Science Foundation Graduate Research Fellowship, covering up to $34,000 for advanced study in sciences or engineering.
5. Military benefits
If you’re currently enlisted in the military or are a veteran, relocation assistance programs may be available to you. The Air force’s Airmen in Flight program offers tuition assistance and pays up to $250 per month for housing costs. In contrast, the Navy’s Seaman to Admiral program provides one-time monetary relocation assistance of $1000. The Army also offers a Military Relocation Assistance Program (MRAP) that helps soldiers with moving and employment expenses. And if you’re transferring to a new base, you may be eligible for free lodging at the Visiting Warrior and Family Center.
6. Scholarships & Grants
If you’re a student looking for scholarships and grants, you have plenty of options. The Department of Education provides funding for low-income students through Pell Grants, while the Department of Veterans Affairs offers aid to eligible dependents. There’s also the Federal Supplemental Educational Opportunity Grant (FSEOG), which is administered directly by your college.
7. Work scholarships
Companies are often willing to provide $2000-$5000 per year for your services as an intern or as part of their work-study program. These jobs don’t usually require skills you’ve learned in school, so they’re perfect if you want to gain experience without committing yourself to a specific career path.
8. Scholarships for relocation
Many scholarship programs are set up to help students who have recently graduated. Still, several offer incentive money for people relocating to a new part of the country. The NSPCC offers up to $5000 per year for students majoring in one of four corporate fields: nursing, engineering, teaching, or business. The Military Spouse Career Advancement Accounts (MyCAA) offers up to $4000 per year for a professional license or certification in an in-demand industry. And the Relocation Scholarship for Service Members and Spouses allows you to apply your Pell Grant money toward tuition at any eligible school, not just your own.
9. Loans from the government
The Small Business Administration has several loans available to small business owners who want to relocate and homebuyers looking for financing on a new property. You can even apply for short-term loans to tide you over during your move and until you’re able to find permanent employment in your new city.
10. Relocation Grants for small businesses
Even if you’re not starting a new business, there are grants available to help with the cost of relocating your existing one. The U.S Small Business Administration has several loans available, as well as grants that provide up to $20,000 per year for moving expenses and reimburse you for your out-of-pocket costs. And if you’re a veteran relocating back to the United States, the Department of Veterans Affairs has several benefits available, including up to $6500 in grant money and tax credits through the Small Business Administration.
It can feel overwhelming at first, but this blog post has provided some great tips and resources to get started! This article talks about financial relocation assistance for people who need help when they relocate to a new part of the country. The different programs are discussed, along with how to apply and what qualifications you might require. You’ll also find out more information on scholarships that offer incentive money for students who have recently graduated as well as veterans relocating back home to the United States. Even government loans are available if you’re starting up your own small business or moving an existing one.