South Carolina Terms and Conditions Project Support Grant Agreement
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FAQ
A Grant Agreement is a class of contract which provides the transfer of cash or something of value to a recipient to support a public purpose authorized by law. Grant agreements are different from other contracts in many keyways.
Another main difference between the two types of agreements is that with a contract, the party purchasing the goods or services generally has control over the output or item (i.e., the purchaser is in control of determining how it wants the services it bought to be performed), but with grants, the Grantee-recipient ...
Like grants, cooperative agreements are funding mechanisms used by the Federal Government. The main difference between a grant and a cooperative agreement is that a cooperative agreement involves ?substantial staff involvement? from a federal agency.
Essentially, a contract is a legally binding document in which the parties make promises to deliver a product or service in exchange for consideration (usually money.) A grant on the other hand is when one party grants funds to another party to do something, in reasonable hopes that the task can be accomplished.
If you become a non-SC resident, you will be required to repay your award for any semester(s) you were classified as a nonresident and received a State Need-Based Grant. However, you will not be required to repay your award for any semester(s) in which you were classified a SC resident.
Ing to Wikipedia, grants are ?non-repayable funds or products disbursed or given by one party (grant makers), often a government department, corporation, foundation or trust, to a recipient, often (but not always) a nonprofit entity, educational institution, business or an individual?. This, too, is accurate.
