Pell Grants are a type of federal financial aid awarded to undergraduate students who display exceptional financial need. The amount awarded is determined by the financial aid office of the college, based on a formula provided by the federal government. Unlike loans, Pell Grants do not need to be repaid.

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A Pell Grant

Question 28

Multiple Choice

A Pell grant

A) frees up funds for college with an annual maximum credit of $2,500.
B) provides jobs for undergraduates with financial needs.
C) is targeted toward older students who are changing careers.
D) is awarded by college financial aid offices following a formula provided by the federal government.

Correct Answer: