This study uses data from the Integrated Postsecondary Education Data System and Delta Cost Project to identify institutional predictors of bachelor's degree completion rates for Pell Grant recipients and nonrecipients at public and private not-for-profit 4-year institutions. Descriptive analyses show that Pell recipients are relatively concentrated in institutions with demographic and structural characteristics associated with lower completion rates, including lower SAT scores, enrollment, and residential intensity. Multivariate analyses show that controlling for demographic and structural characteristics explains the observed negative relationship between an institution's representation of Pell Grant recipients and its completion rates for Pell recipients. At public 4-year institutions, per full-time equivalent expenditures on instruction and institutional grants are positively related to Pell completion rates, while net price for low-income students is negatively related, after controlling for demographic and structural characteristics.