

Grant (money)

Grant (money) Definition

A grant is money given to a certain individual on the basis that s/he should not have to repay. In that respect, it differs from a loan.

Most often, grants are issued by the government to those in need, such as families with low income or students attending post-secondary education institutions. In certain cases, a part of a government loan is issued as a grant, particularly pertaining to promising students seeking financial support for continuing their educations.

Grants are also given out by foundations. These grants can be either scholarships or donations to non-profit organizations. Many non-profits hire grant writers who assist them with obtaining grant money.

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