The Android OS does offer the personal hotspot feature. But, just like the with the iPhone, whether or not that feature is available to you and how much it will cost depends on your carrier. You should give them a call.
I am currently trying to do the same thing but my iPad mini (wifi only) and I believe it's the iPad 2, will not feather to my phone. iPad says it's not supported. Did you ever figure it out Dunph1? I don't find these answers helpful.