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Basic Educational Opportunity Grant (Pell Grant) 1972 was proposed and championed by Senator Claiborne Pell (D-RI) and signed into law by President Richard Nixon on June 23, 1972. Provided free grant money (not loans) to help low-income students pay for college. Original Name: The program was originally called the Basic Educational Opportunity Grant (BEOG). Renamed: In 1980, Congress renamed the program to the Pell Grant in honor of Senator Pell's efforts. Purpose: To make higher education acce