Rising Numbers: Pell Grant Student Enrollment Increases at Elite Private Colleges

In 1972, the U.S. Congress established the Pell Grant program through the Basic Educational Opportunity Grant Program. This initiative allocates financial aid to undergraduate students exhibiting substantial financial need. Federal statistics reveal that in the 2015-2016 academic year, nearly 40% of undergraduates and about 60% of Black undergraduates benefited from Pell Grants. Though prestigious private colleges and universities enroll a minor fraction of American students, their considerable endowments facilitate exceptional educational experiences unavailable at other institutions.