No. The Pell Grant is a federal grant that the government offers only to those undergraduate students who demonstrate exceptional financial need. The determination of exceptional financial need is based on the income and asset information supplied on the federal government's financial aid application, the FAFSA.
For the 2015/16 academic year, the maximum Pell Grant award is $5,775. If you qualify, the actual amount you get will depend on your financial need, the cost of attendance at your college, and your status as a full-time or part-time student.
If you receive a Pell Grant, the school can credit the funds to your account, write you a check, or combine these methods. The school is required to notify you in writing how much you will be receiving. A Pell Grant does not need to be repaid.
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GE 52202 (10/2016)