Pell Grants and the Cost of College

As the cost of college has gone up, so, too, has the number of students with student-loan debt. An article from NPR states that nearly 70% of students have debt.

One reason is the declining percentage of college costs covered by federal Pell Grants. For example, the graph below from NPR shows that Pell Grants covered 72% of a public university’s cost in 1976 but only 31% of that cost in 2013.

The article states that 86% of students who receive a Pell Grant still need to borrow about $9,000 per year, even after other aid is included.