The money has been awarded as part of the trust's Young People Initiative.
It follows the announcement last September of new regulations paving the way for pupils to become associate members of school governing bodies.
They will be able to attend meetings and sit on committees but not will not be able to vote.
A pilot project in 12 schools is now being run by think-tank the Institute for Public Policy Research, the Phoenix Education Trust and the Citizenship Foundation. Potential pupil governors are being elected, inducted and trained in participating schools. In the third phase, running from September until July 2006, the children will take up their positions and project findings will be disseminated.
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