Giving Compass' Take:

• UNCF reports that the purchasing power of Pell Grants has declined significantly, undercutting the efficacy of the program and creating need for changes. 

• How can funders work to ensure that Pell Grants fulfill the role they were designed for? 

• Learn about Pell Grant recipients who aren't graduating. 

Pell Grants are the cornerstone of our national commitment to make higher education accessible and affordable. More than 8 million students who lack the financial means to attend college rely on Pell Grants. Yet, in 2015, the maximum Pell award was $5,730, less than one-third of the average cost of attending college–the lowest share in the history of the Pell Grant Program.

The results are devastating: It is estimated that in the last decade alone, between 1.4 million and 2.4 million students who were academically prepared for college discovered that their bachelor’s degrees were financially out of reach because of inadequate Pell Grant assistance.

Read the full article about the purchasing power of Pell Grants at UNCF.