Pell Grants on a Downward Slope
Pell Grants, which help nearly 10 million low- and moderate-income students afford college, are an important weapon against growing inequality in higher education. But, as Paul Krugman recently highlighted, they have shrunk considerably over time as a share of college costs.
In December, we explained why Congress’s cuts to the program in fiscal year 2012 were both unnecessary and unwise. Here’s a revised version of our chart showing the grants’ long-term erosion.