Meditation is rehearsing, reviewing or exploring a concept we already know.
After the first bite of an apple we know what the apple tastes like the second and third bites taste much the same as the first but we turn the fruit and plan the place where we will bite next. Meditation can be like that. Chewing and planning our next bite.
Meditating on grace is like eating something Heavenly. It is a foreign thought to the natural mind that God would love us just because He Is a God of love and that He would place us in a position of untarnishable favor based on what His Son has done is beyond natural thinking.
"Rejoice in the Lord always; again I will say, rejoice. Let your reasonableness be known to everyone. The Lord is at hand; do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God. And the peace of God, which surpasses all understanding, will guard your hearts and your minds in Christ Jesus. Finally, brothers, whatever is true, whatever is honorable, whatever is just, whatever is pure, whatever is lovely, whatever is commendable, if there is any excellence, if there is anything worthy of praise, think about these things. What you have learned and received and heard and seen in me - practice these things, and the God of peace will be with you." - Philippians 4:4-9 ESV
Do we know grace? That is a good question. At times we all can say, 'No, We don't.' because it is a Heavenly idea and we are Earth bound people that have souls that cleave to the dust.
Grace is received from God. That is the only way it is obtained. Once given it is never taken away again. God puts an ironclad commitment around every divine decree. God gave grace when He gave His Son. We got grace when we received His Son. So simple. Then God Is right there with us supplying us moment by moment. He doesn't ever stop.
"For the grace of God has appeared, bringing salvation for all people, training us to renounce ungodliness and worldly passions, and to live self-controlled, upright, and godly lives in the present age," - Titus 2:11-12 ESV
We meditate on what we know and God trains us in things we do not yet know. Grace opens the lines of supply because it makes the Bible alive, gives us access to God's throne day or night and shows us a new identity that is interacting in Trinitarian purposes because it is hidden in Christ.
"Oh, taste and see that the LORD is good! Blessed is the man who takes refuge in him!" - Psalm 34:8 ESV
Yes. We take a taste and then another again and again until our heart is established in grace. In time the basis of our functioning becomes grace.
That process is going to take time. We can afford to be patient with ourselves and with others. People grow at different rates and they have complex issues. If we have words of grace that we are chewing on we can give words of grace for other people to chew on and those words will open a supply for them that will transform them in time. That line upon line investment of the Spirit will grow into a beautiful structure that glorifies God.
So... We take bite after bite and chew a little longer instead of just swallowing in a rushed way and God does something invisible in us because of His invisible unending supply.