The history of
the United States
can easily be compared to the history of college grants. In fact,
grants for obtaining a college education appears to be an American
invention. In 1643, one Lady Anne Radcliffe Mowlson created the first,
as a way to help Harvard to become the world institution it is today.
One
of the beneficiaries of such a grant was one Claiborne Pell. He
obtained his Bachelors before World War II, and then served in the
Great War until it ended in 1945. From there, he got his Masters from Columbia University
thanks in part to the GI Bill. He would go on to be part of the
officials that created the United Nations and become a U.S. Senator.
In
1972, Pell promoted an act to create the Basic Educational Opportunity
Grant, also known as the BEOG. It would provide federal money, based on
need, for academically worthy students to achieve advanced degrees. It
became so successful that in 1980, Congress renamed it to the Pell
Grant, a name this act still goes by.
The
grant has changed considerably. Over the years, it had expanded its
qualifications, allowing more students to get financial aid. That’s
ended up being a two-edged sword. While the number grants permitted has
grown geometrically, the cost of going for that degree, whether for a
campus or online degree, has risen even more.
When
it comes to obtaining college grants, the U.S. Department of Education
has just released a report that’s truly cautionary. It shows the
maximum amount of money one can get from Pell Grants has increased to
as much as $5,350, the cost of higher education has increased to over
$15,000 per year. That’s a $10,000 gap that has to be filled, either
through private funding, obtaining more grants or taking out loans.
Even
with President Obama pushing for an increase next year’s cap to $5,750
a year, these grants cover barely a third of overall college costs. The
cost of a higher education is clearly outstripping what the federal
government is willing to give.
For
comparison, USA Today reports that when the Pell started in 1973, the
maximum grant was $452, but the average tuition at that time was $438.
In hard numbers, if Obama’s proposal goes through, the Pell will have
gone up 1275%. At the same time, costs have exploded by 3400%, nearly
three times faster than the money provided to the Pell. To top it,
state grants have shrunk considerably, citing the current economy as
the reason.
The
good news is there still are plenty of other grants besides the Pell.
Private college grants like the one Lady Mowlson gave Harvard are out there. It
takes work, stamina and patience to get more than just the federal Pell Grant for college. You
just have to look for them, and you could be on your way to that
Bachelors degree everyone needs to advance in these modern times.
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