What is a grant?

A grant is a form of financial assistance that is awarded primarily based on the recipient's demonstrated financial need, and it does not require repayment. This makes grants an attractive option for students seeking to fund their education or cover specific expenses, as they provide support without adding to future debt.

In a typical context, grants can come from various sources, including the federal government, state governments, colleges, and private organizations. Their purpose is to help individuals access education and other opportunities that they may not be able to afford otherwise.

In contrast, loans, employment opportunities, or monetary gifts from family and friends serve different functions and have their own implications. Loans must be repaid, often with interest, while jobs are contingent upon service and performance. Gifts do not usually have formal requirements attached but also have different motivations and implications. Thus, the defining characteristic of grants is their non-repayable nature tied to financial need.