The Tuition Grant Agreement serves as a crucial document in the U.S. education funding landscape, providing a formal framework for financial assistance in educational pursuits. This agreement is commonly used by educational institutions, corporations, and foundations to support students while protecting the interests of both the grantor and grantee. It details specific academic requirements, financial terms, and any post-graduation obligations. The document must comply with federal education laws, state regulations, and tax requirements, while clearly outlining the conditions under which the grant is provided and maintained.
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1. Parties: Identifies the grantor (institution/organization) and grantee (student)
2. Background: Explains the purpose of the grant program and its general intent
3. Definitions: Defines key terms used throughout the agreement including 'Academic Year', 'Program', 'Grant Amount', etc.
4. Grant Amount and Purpose: Specifies the amount of funding and its intended educational use
5. Disbursement Terms: Details how and when funds will be distributed
6. Academic Requirements: Specifies minimum GPA, course load, or other academic conditions
7. Term and Termination: Duration of the grant and conditions for termination
1. Service Commitment: Required when grant includes post-graduation work requirements or service obligations
2. Repayment Terms: Conditions under which grant must be repaid if converting to a loan under certain circumstances
3. Research Requirements: Specific research obligations of the grantee for research-based grants
4. Employment Conditions: Terms related to future employment obligations or restrictions
1. Schedule A - Payment Schedule: Detailed breakdown of disbursement dates and amounts
2. Schedule B - Academic Program Details: Specific courses or program requirements covered by the grant
3. Schedule C - Service Commitment Details: Details of any required post-graduation service or employment
4. Appendix 1 - Institutional Policies: Relevant institutional policies affecting the grant
5. Appendix 2 - Tax Implications: Summary of tax considerations and requirements for the grant recipient
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