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 provide assistance to more than 9 million low-and moderate-income students to pay for college. Students qualify for the grants based on their income, assets, and family size; three-quarters of recipients had family incomes below $30,000 in the 2010-2011 academic year.