The area of education is one of the most underfunded in our country. Schools and their staff often do not have enough money to pursue all the activities and training they'd like, but banks don't lend money for educational purposes. As for college and graduate school students who need to cover ever-increasing tuition, they can borrow money, but the terms for paying it back are not the best. That's why educational grants are so helpful.
When used as a noun, a grant means a sum of money given for a specific purpose, usually by a governmental agency or community group. So an educational grant is money given for educational purposes.
Educational Grants for Students
Students applying to colleges and graduate school may apply for grants to help them pay for tuition.
Educational Grants for Teachers
Teachers may receive educational grants to pursue extra activities with their students and/or to further their own studies and interests.
Educational Grants for Schools
Schools may receive educational grants to implement special programs.
A grant allows the recipient to pursue his educational goals without having to pay the money back in any way.
A lot of pharmaceutical companies have educational grants.