- A transfer of money from the federal government to a state government, local government or individual person for the purposes of funding a specific project or program. The federal government gets this money from income tax revenues. Grant money is not a loan, and does not have to be repaid, but it does have to be spent according to the federal government's guidelines for that particular grant.
Grant-in-aid can be awarded to a university faculty member to pursue a particular line of research, but there will be restrictions, which will vary by grant, on how the money can be used. For example, a permitted use of the funds might be to pay undergraduate students to assist with the research; a non-permitted use might be the payment of university utility bills.
The recipient will also have to meet certain requirements to qualify for the aid. An individual recipient might be required to meet certain citizenship and/or residency requirements, for example.
Investment dictionary. Academic. 2012.
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grant in aid — UK US noun [C or U] (also grant in aid) ► GOVERNMENT, FINANCE an amount of money given by the government to a government department or social organization that is not a business: » Grant in aid is paid where the Scottish Government has decided… … Financial and business terms
grant-in-aid — ˌgrant in ˈaid noun [uncountable] ECONOMICS money that is paid by the central government to government organizations or local government: • Until the receipt of the next tranche of grant in aid, no new major initiatives could be undertaken … Financial and business terms
grant-in-aid — [grant΄in ād′] n. pl. grants in aid a grant of funds, as by the federal government to a state or by a foundation to a writer, scientist, artist, etc., to support a specific program or project … English World dictionary
grant-in-aid — grant′ in aid′ n. pl. grants in aid 1) gov a subsidy furnished by a central government to a local one to help finance a public project 2) a financial subsidy given to an individual or institution for research, educational, or cultural purposes •… … From formal English to slang
grant in aid — index pension Burton s Legal Thesaurus. William C. Burton. 2006 … Law dictionary
grant-in-aid — index subsidy Burton s Legal Thesaurus. William C. Burton. 2006 … Law dictionary
Grant-in-aid — A grant in aid is money coming from central government for a specific project. This kind of funding is usually used when the government and parliament have decided that the recipient should be publicly funded but operate with reasonable… … Wikipedia
grant-in-aid — /grant in ayd , grahnt /, n., pl. grants in aid. 1. a subsidy furnished by a central government to a local one to help finance a public project, as the construction of a highway or school. 2. a financial subsidy given to an individual or… … Universalium
grant-in-aid — noun 1. a grant from a central government to a local government (Freq. 1) • Hypernyms: ↑grant, ↑subsidization, ↑subsidisation 2. a grant to a person or school for some educational project • Hypernyms: ↑grant, ↑aid, ↑ … Useful english dictionary
grant-in-aid — noun (plural grants in aid) Date: 1851 1. a grant or subsidy for public funds paid by a central to a local government in aid of a public undertaking 2. a grant or subsidy to a school or individual for an educational or artistic project … New Collegiate Dictionary