CampusPin Glossary
Pell Grant
The largest need-based federal grant for undergraduates. Awarded based on FAFSA results; does not need to be repaid.
The Federal Pell Grant is the cornerstone of U.S. need-based aid. Maximum award for the 2025–2026 academic year is approximately $7,395. Eligibility is determined by FAFSA / SAI, family size, enrollment intensity, and cost of attendance. Pell is a grant, not a loan, it does not need to be repaid as long as the student completes the term.
Pell-eligible students often qualify for additional state grants and institutional matches. About a third of U.S. undergraduates receive Pell.
See also
FAFSA
The Free Application for Federal Student Aid, the U.S. government form every undergraduate must file to access federal grants, loans, and work-study.
Expected Family Contribution (EFC) / Student Aid Index (SAI)
A federal calculation of how much a family is expected to pay for one year of college. Replaced by the Student Aid Index in the 2024–2025 simplified FAFSA.
Subsidized Direct Loan
A federal student loan for undergraduates with demonstrated need. The government pays the interest while the student is in school.
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