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.
Pell Grants. Receiving a Pell grant as part of your federal student aid award can minimize, or even eliminate, the financial burden of paying the tuition to enroll in school. In some cases, the Internal Revenue Service can require that you claim the Pell grant money as income on your tax return.