Grants in the US government usually issued to a certain projects that promote positive externalities, which means the project should have greater positive effect to the society rather than the private benefit. A certain grant may be given by the state government or by federal government.
Formula grants are those grants that usually provide funds as mandated by the existing law. This type of grant might be a sum of money that US government needs to spend to protect the forests or provide services to demote substance abuse. Earmark grants are issued through legislators and being added to a certain bill that was being passed that also helps particular projects to acquire funding without any public reviews. In the Earmark Grants, there could be large possibilities of abusing it by the legislators. Project grants are issued to companies or person for the purpose of researching. A good example for this would be one pharmaceutical company that tried to develops a certain drug to fight a particular disease.
Grants in the US government usually issued to a certain projects that promote positive externalities, which means the project should have greater positive effect to the society rather than the private benefit. A certain grant may be given by the state government or by federal government.
State grants are grants coming from specific states that are usually given to individuals. It includes the promotion for a higher education such as education grants and college grants.
Education Grants were given to both individuals and institutions. Institutions may utilize the money for improving their facilities while the individuals who are in great needs, part of minority community, or those physically handicapped such as blind and deaf may use that grant to finish their education. College grants are given to those higher achievers that need financial assistance for their college. Government may either pay the portion of their college fees or undertake all of their expenses, which depend to each individual case.
[Warner Smith] has been in the field of Grants for a long time and maintains a website about College Grant Applications where you can get answers to the rest of your questions.. This article, The Government Grants has free reprint rights.