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.
They are funded by the government and administered by the U.S. Department of Education. Pell Grants typically go to students with a total family income of below $20,000, although students with higher family incomes still may qualify. For the 2012-13 school year, the maximum Pell Grant was $5,550. In 2010, nearly 8 million students received a total of $28 billion in Pell Grants.