What is a Grant?

Like a scholarship, a grant is money that does not need to be paid back. Sometimes it is tax free, and often awarded on the basis of financial need.

Unlike scholarships, merit is not taken into consideration, although applications or letters of request still must be completed to be considered for a grant. Government grants are sometimes handed out on behalf of the college that you are attending as part of the financial aid package.

Grants are an important part of fiancial aid to consider when funding your college education, since grants do not require that any funds be paid back.

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