Over the twentieth century, a college education increasingly functioned as a ladder to professional occupations and ample-paying employment. Until the GI Bill, access to college remained tightly limited, although the expansion mostly served White matriculants.

In the 1970s, tuition, room, and board (TRB) rates remained beyond the financial grasp of talented young adults from low-wealth families. Lois Dickson Rice, herself a first-generation college student, worked tirelessly to expand access to college and eventually persuaded Congress to fund what became known as Pell Grants. These awards were distributed inversely to household income and given directly to the recipients, who could then decide where to enroll.

At one time, maximum Pell awards could finance nearly 40 or 80 percent, respectively, of the TRB costs of attending a private or public four-year college. Over the past half century, the Pell Program has assisted tens of millions of students from marginalized communities enroll and graduate from college.

This chapter examines how the promise of Pell unraveled. Middle-class parents wondered why their kids did not benefit. The Clinton Administration shifted emphasis toward using tax policies to assist families with the cost of college. Enrollment management strategies shifted institutional aid from need-based to merit-based aid.