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 Pell Grant Program is a need-based program and the amount a student is eligible for is determined when you complete a Free Application for Federal Student Aid (FAFSA). For the 2012-13 academic year, the maximum Pell Grant award is $5,550.