The U.S. might not be the land of opportunity people think it is–at least, not when it comes to college affordability.
A new paper from the Institute for Higher Education Policy and the Lumina Foundation describes in detail how the high costs of higher education are preventing those with limited financial means from achieving their educational goals.
The problem, in part, is due to declining state funding for higher education. This places the financial burden squarely on the shoulder of families and students, for whom college affordability is often a challenge.
Despite increase in the federal Pell Grant, the funding gap hasn’t closed, as rising college costs outpace inflation and increase in income.