An award of money or direct assistance to- perform activities or programs in which the outcome is seen as less certain than that from a contract, with expected results described in general terms. Application can be submitted without having been solicited or through a program announcement (request for application, RFA). Most federal grants fall into nine categories as follows: (a) entitlement, which is a noncompetitive award and given automatically on the basis of legally defined formula to all agencies that qualify; (b) competitive, which is awarded for specific types of research, demonstration, training, and the like (only nonprofit organizations are usually eligible); (c) block grants, in which the federal government merely stipulates in broad terms how the state and local governments should spend the aid. The purpose of these grants is to decentralize the federal government, (d) Categorical grants are more restrictive of the block grants as they spell out in detail the specific categories in which the money must be spent; (e) demonstration grants, where funds are used to underwrite a feasibility study; (f) formula grants are awarded by federal agencies on the basis of a set formula—chief recipients being state governments; (g) matching grants are the same as matching funds, (h) project grants include an overall term for the wide variety of grants that support specific projects; and (i) research grants provide funds to carry out specific investigations and clinical trials.
In education, a type of financial aid, money that can be applied to the costs of attending college or private schools, such as a scholarship, or for carrying out a specified academic project, but that does not have to be repaid. Many grants are offered on the basis of special need, including several federal programs, such as the Pell Grant and the Supplemental Educational Opportunity Grant.
A sum of money given by the government, a foundation, or other organization to support a program, project, organization, or individual.
A financial award given to an academic or professional investigator to support his or her research.