A Pell Grant is a subsidy the U.S. federal government provides for students who need it to pay for college. Federal Pell Grants are limited to students with exceptional financial need, who have not earned their first bachelor's degree, or who are enrolled in certain post-baccalaureate programs, through participating institutions. Originally known as a Basic Educational Opportunity Grant, it was renamed in 1980 in honor of Democratic U.S. Senator Claiborne Pell of Rhode Island. 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. The U.S. Department of Education uses a standard formula to evaluate financial information reported on the Free Application for Federal Student Aid (FAFSA) for determining the student's Expected Family Contribution (EFC).

Claiborne de Borda Pell was an American politician and writer who served as a U.S. Senator from Rhode Island for six terms from 1961 to 1997. He was the sponsor of the 1972 bill that reformed the Basic Educational Opportunity Grant, which provides financial aid funding to American college students; the grant was given Pell's name in 1980 in honor of his work in education legislation.