The Federal Pell Grant Program is authorized under Title IV of the Higher Education Act of 1965 (20 USC § 1070). Pell grants, the foundation of federal grant aid for higher education, are need-based scholarships for undergraduate students from low-income families. The scope and scale of the Federal Pell Grant Program has grown tremendously over time. For the 1973–1974 school year, 176,000 students received $47.6 million in Pell aid. In 2011–2012, 9.4 million students received Pell grants, and expenditures totaled $33.6 billion, or 19% of total undergraduate student aid. The effect of Pell grants on student demand for college is uncertain; eligibility for and receipt of Pell aid appears to have little impact on college enrollment, perhaps due to complex application processes alongside institutional responses ...