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"This
term can have one of two possible meanings. In The Condition of Education,
grants most commonly refer to funds awarded to an individual by a college, an
agency, or another institution to attend postsecondary education. Grants, which
do not have to be repaid, include need-based grants, merit-based scholarships,
fellowships, and tuition waivers. ..."
Source:
National Center for Education Statistics
"Grants are funds
disbursed by one
party (Grant Makers), often a Government Department, Corporation,
Foundation or Trust, to a
recipient, often
(but not always) a nonprofit entity, educational institution, business
or an individual. In order to receive a grant, some form of "Grant
Writing" often referred to as either a proposal or an application is
usually required. For more information regarding successful grant
submissions see
Grant Writing.
Most grants are made to fund a specific project and require some level
of compliance and reporting. The
Grant Writing
process involves an applicant submitting a proposal (or submission) to a
potential funder, either on the applicant's own initiative or in
response to a Request for Proposal from the funder. Other grants can be
given to individuals, such as victims of
natural disasters
or individuals such as people who seek to open a
small business.
Sometimes Grant Makers require Grant Seekers to have some form of
tax-exempt status, be a registered nonprofit organization or a local
government'
Source: Wikipedia |