Definition of 'pip'. pip (pÉªp ) Pips are the small hard seeds in a fruit such as an apple, orange, or pear. If someone is pipped to something such as a prize or an award, they are defeated by only a small amount.
A Pell Grant is generally considered the foundation of a student's financial aid package, to which other forms of aid are added. The Federal Pell Grant program is administered by the United States Department of Education, which determines the student's financial need and through it, the student's Pell eligibility.
The federal government gives Pell Grants to help lower-income students and families pay for higher education. The maximum amount of the grant depends on the inflation rate and changes every year. However, not every student awarded a Pell Grant qualifies for the maximum. The amount you receive will depend on your family income, the cost of tuition and several other factors.