Does grant money count as income on taxes

I just got my Pell Grant money and now I'm freaking out about whether it counts as income for taxes because I really cannot afford a surprise tax bill next year. Has anyone here gone through this and know if you actually have to report it or if it's just free money that doesn't count? I'm trying to figure out if I need to set some of it aside just in case because that would be a disaster for me right now.