All of the following statements concerning financial aid programs for education funding are correct except: 1) a pell is a grant from the federal government awarded to undergraduate students who have not earned a bachelors or professional degree 2) the SAI calculation, which is based on one's ACT score, is used to determine a students eligibility for a pell grant and how much is awarded to a student c) one type of Stamford loan is the direct Stamford loan that is provided to the student directly from the department of education