Grants for private school are available, but not as easy to find as other types of school grants. There are two types of grants for private school: needs-based and merit-based. Unlike loans, school grants do not need to be paid back. Usually private schools use a formula to calculate how much a family can be granted during an academic school year.

Grants are usually tied to the individual school's budget and the chances of getting a grant will vary with the amount of grant money the school has set aside as well as how many students are requesting it. Students are required to fill out a financial aid application first.

Needs-based school grants are calculated on the basis of family income and expenses. Each school will use a formula to determine those who are most in need. Private school can be very expensive, and these grants allow some students the opportunity to have a private school education without having to pay for it.

Merit-based grants are given based on academic, artistic or athletic achievements or talent and often are used to help students with outstanding special skills, talents and ability to go to private schools. In this case, most students will have to provide documentation to the school of choice.