What is a grant?

Answer 1

A grant is something you can get for a multitude of things an example being that you could get a grant for your school for new supplies or better ones. The time it takes to get a grant depends on whether it deems relevant to the person/business you wish to get one from it could also depend on whether the person/business could gain something such as info, popularity, or they could develop or make something new out of it.

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More simply put, a "grant" is a sum of money that a government, charity, organization GIVES you for a specified purpose. The proviso is that the money MUST ONLY be spent on the specific things that the grant was awarded for.

Answer 2

A grant is money given to an individual or organization to help that person or organization meet a certain goal. For example, a grant may be given to a student to help offset the cost of going to college. A business may be given a grant to help hire new employees.

Grants Versus Loans

Grants are similar to loans in the fact that money is given to an individual who needs it. However, a grant is a payment that is not repaid to the person or group who gives the grant. Unlike a loan, a grant may be considered income for tax purposes

Who Qualifies For A Grant?

Almost anyone can qualify for a grant. The details of who qualifies for a particular grant will be spelled out by the group giving out the grant. For example, the government will specify whether a grant is being given to a business, a college student or an individual looking to pay off a car loan. Make sure that you read the fine print carefully to ensure that any grant that you apply for is something that you are eligible to get.

How Much Is A Grant Worth?

Grants can be worth several hundred dollars all the way up to several thousands of dollars. A grant of $500 could be issued to help a student pay for tuition and books at a local college. A grant of $10,000 could be given to a company to help pay for the costs of hiring and training a new employee. The amount of the grant is left up to whoever is giving out the grant.

Getting a grant can be a great way to help pay for school or some other expense. You can go online to find many different types of grants that can help you out in almost any situation. Remember, grants are free money that do not have to be repaid.