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First, a letter of Intent is often focused more on the company rather than the specific job. Most of the time, a letter of intent is just a cover letter. But you can also send a letter of intent to companies that haven't advertised a job.
A letter of intent for graduate school is also where you sell the admissions committee on why you belong in their program specifically.
The body of your letter of intent is where you could introduce yourself to the application committee and make your case You can also use it as a letter of intent template to ensure you are following the correct format.
In this case, the letter will determine the reason of being. A Letter of Intent is a written document that outlines a preliminary agreement between two parties regarding the terms of a potential purchase or other transaction. It communicates your general interest in working for the company.