Complex sentence: Pell was largely responsible for the creation of "Basic Educational Opportunity Grants" in 1973, renamed Pell Grants in 1980, to provide financial aid funds to U.S. college students.
Split into simpler sentences: Pell was largely responsible for the creation of Pell Grants in 1973, originally known as "Basic Educational Opportunity Grants". The Pell Grants provide financial aid funds to U.S. college students.