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.
Updated June 06, 2016. Federal Pell grants are the most widely available type of grant program for undergraduate students. Unlike the federal loan programs (Stafford, Perkins, PLUS, etc.), Pell grant awards never need to be repaid, making them extremely sought-after by students and their families.