The Federal Pell Grant program was established to help make it possible for low-income students who may have not otherwise been able to afford a college education to do so. Unlike loans, the grant does not have to be repaid, which helps reduce the burden for students who receive the grant.
As college costs have risen, the maximum federal Pell Grant has risen as well–but not nearly enough to cover the huge increase, Inside Higher Education reports.
According to a new report from the Education Trust, New America Foundation, and Young Invincibles, the Pell Grant program is failing to keep up in providing low-income students with access to a college education.