Definitions for "Pell Grant program"
The largest federal grant program. Students who meet federal criteria for financial need automatically receive this grant, which does not require repayment. Once a student accepts this offer, the grant is automatically credited to his or her college account.
A federally sponsored and administered program that provides grants based on need to undergraduate students. Congress annually sets the dollar rate.
Eligibility and award amounts are determined by each college based on federal guidelines. Pell Grants do not need to be repaid.