Colleges Want Congress to Double Aid to Low-Income Students

College lobby groups launched a campaign on Thursday for lawmakers to double the total value of grants to low-income students. Pell Grants once covered two-thirds of the total cost of a four-year college, but rising college costs have eroded the value of the grant. The maximum Pell award—$6,345 this academic year—covers less than a third of the cost of the typical four-year school.