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Published: June 28, 2011

Grant (grant-in-aid)

An outright cash gift tied to specific performance obligations of the grantee. In education, there are two broad categories of grants: from the federal government to states, local agencies, educational institutions and individuals to support educational or research programs; and from government agencies, private organizations and educational institutions to individual students to underwrite part or all of their education. (See also FINANCIAL AID.)