Any recent college graduate will most likely tell you that they enjoyed their journey through college. They will go into stories of their favorite classes, a crazy professor, or a social event with their friends that they may or may not remember. What these grads may not want to discuss is the student-loan debt they currently hold. Attacking and paying back this debt has become the next big battle after graduation. Before they can even step back and celebrate the achievement of graduating, graduates are struggling to find a job to start paying off their college loans.
I hope you are sitting down as you read this chart because you might fall out of your chair. Since 1970 the average cost of tuition and fees has more than doubled. Let me reiterate, the price of college has DOUBLED from $9,625 to $20,234. This means that the average graduate is burdened with having a significant amount of debt right out of college. This means a portion of the new work force will be starting at a disadvantage.
In 1970, the Pell Grant maximum award covered close to two-thirds of the average cost of a college education. Fast forward to 2012, the maximum grant only covers 27% in relation to the average cost of a college. The issue is Not the Pell Grant maximum, it is the college institution. College has become more of a business as opposed to an institution that educates our young adults to ensure success for the future of our country.