Pell Grant

The Pell Grant is a subsidy provided by the U.S. federal government for students with exceptional financial need to pay for college. The program, initially known as the Basic Educational Opportunity Grant, was renamed in 1980 in honor of Senator Claiborne Pell, who played a central role in its creation. The Federal Pell Grant program is administered by the U.S. Department of Education, which determines a student's financial need and eligibility for the grant using the Expected Family Contribution (EFC) formula. The program is funded by Congress through the Higher Education Act of 1965 and has undergone several changes since its inception, with the most recent reauthorization occurring in 1994. The program assists approximately 5.4 million students nationally and has a history of expansion and reform, with the goal of increasing access to higher education for low-income students.learn more on wikipedia