Pell Grant
Federal grant money for undergraduates with financial need. It usually doesn't have to be repaid.
You apply for a Pell Grant by filing the FAFSA. The amount depends on your Student Aid Index and your school's cost of attendance. The maximum for the school year starting July 1, 2026, is $7,395.
Because a grant is free money, accept it before work-study or loans. You need to file a new FAFSA each year to keep getting it.
Example
Jordan's aid offer includes a $3,000 Pell Grant. That lowers his net price by $3,000, and he never pays it back.