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What is a Pell Grant?

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Quick Answer

A Pell Grant is a type of federal financial student aid that does not have to be repaid. It is usually awarded to an undergraduate student who has not earned a professional or bachelor's degree.

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Full Answer

A Pell Grant may be applied toward a person's educational costs by his school, the funds may be paid directly to the student or a combination of these methods may be used. The maximum amount of aid a person may be awarded changes by year. For the 2013-2014 year, the highest possible amount of aid is $5,645. Factors such as the amount of financial need, academic status and length of planned attendance determine the exact amount given to a successful applicant.

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