Going to college is an exciting and rewarding experience that hopefully leads to a fulfilling career. It is also an expensive experience that not everyone can afford, and many people rack up debt when they get an education. Aside from the financial strains of paying for college, dealing with monthly bills is a major distraction that can have negative effects on your learning. So, is there a way to take off some of the pressure of paying for college? Luckily, there is, and you and your family could be entitled to free money.
What is “Free Money”?
“Free Money” is another term for unclaimed money that people are unaware they are entitled too. The money gets accumulated in various financial institutions, such as the IRS, pension plans, uncashed paychecks, etc., and its rightful owners can claim it back at any time.
When people move from place to place, change their job, switch banks, and take other actions that have to do with finances, they often leave money behind. The money is saved and maintained by financial institutions and employers and many people are unaware they could be entitled to money from their past.
The institutions that maintain money are legally prohibited from using it, so the money “lies” there, waiting to be claimed back. So, you and your family may be entitled to unclaimed money that is just waiting to be claimed back.
As of 2020, there is nearly $60 billion in missing money and assets that have yet to be claimed by their rightful owners. On average, the sum of unclaimed money that people receive is $900, and it could vary depending on several factors.
Many Americans are entitled to thousands of dollars in missing money and the US government encourages the public to find unclaimed money. Aside from the money that belongs to you, you can also claim back money that is owed to your family and put it towards higher education.
How to Find 2020 Unclaimed Money?
If you are entitled to free money, you must first find out how much is owed to you and then claim it. Usually, those who have missing money registered to their name receive a cheque for what is owed to them within 120 days of submitting the request to get the money back. So, within a few months, you can get a cash flow directly into your account.
To find out if you are entitled to unclaimed money, you can use the two following online methods:
1. State websites – as the government encourages US residents to claim back their money, it operates official websites dedicated to finding unclaimed money. To find missing money that is registered to your name, you need to type in the name of states that you lived in + unclaimed money. For example, if you lived in New York, you need to type “New York unclaimed money” in the search engine you are using.
The search results will include official treasury/government sites that provide information about missing money. In these websites, you can search for money that belongs to you/your family/a business you owned and claim it back.
To make sure you receive everything you are owed, you are advised to perform a search in every state you and your family lived in.
2. Public records search – you can find missing money in professional public records search sites, such as GoLookUp, and get back what is rightfully yours. Similar to official government sites, to find free money registered to your name, you need to type in your name/the name of a family member into GoLookUp’s search bar and the state in which you want to perform the search.
Then, the search engine within the website will scan public records that are registered to the name you have entered. At the end of the query, which lasts several minutes, you will receive a report that includes, among other details, information about unclaimed money. you can perform the search for every state you and your family have lived in and find out if you are entitled to free money.
With both methods, you will need to submit a request to get your money back and once the requests are viewed, you will receive the funds within 120 days. You could be entitled to upwards of thousands of dollars, so you should check if there is missing money registered to your name.
Millions of people in the United States are entitled to money without being aware of it. This free money could go towards your college education and it can take some of the financial pressure off your shoulders during your studies.
Finding missing money is easier than ever thanks to the online resources that are available to you through government agencies and online public records search services. So, if you want to find out if you are entitled to 2020 unclaimed money, begin your search, and invest in your future, today.
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