What is the difference between a Pell Grant and a student loan?
What is the difference between a Pell Grant and a student loan? A Pell Grant is a need-based grant funded by the government. It is not a loan and does not have to be paid back after a student graduates. Pell Grants are typically given to undergraduate students from low income households. … For instance, a student taking 6 credit hours may be eligible for half of the max Pell Grant.