Keep college affordable by doubling Pell Grants
Among the many questions high school students face, the one that looms largest is, “What are your plans after graduation?”
The high school graduate whose plans include getting a bachelor’s degree ultimately will have more opportunities to attain economic and social mobility. On average, that person will earn $1.5 million dollars more over their working life. They’ll experience lower unemployment and have access to better healthcare. The high school student who goes on to earn a fouryear college degree is more likely to have the resources — economic and otherwise — to enrich their community, in the form of increased tax revenue, business development and job creation, volunteer work, philanthropic contributions and other forms of civic engagement.
Given the opportunities higher education unlocks, it’s incumbent upon all of us to ensure that anyone who wants to earn a four-year college degree can do so. And we must begin by dispelling a common misconception — and addressing a very real fear — that cost is a barrier to higher education.
At the University of Colorado, we work hard to offer an affordable, accessible education. We know cost matters. We kept tuition at the same rate for three consecutive years. The out-of-pocket cost of attending CU for resident undergraduates has declined over the past five years when adjusted for inflation.
We’ve doubled our investment in grants and scholarships over the past decade, which has enabled us to help more students achieve their educational goals each year.
Like our peers in Colorado and across the nation, CU’S leadership university-wide, including at our four campuses, is committed to remaining an affordable option for those wanting to earn a four-year degree. But all colleges and universities in the state need support. We’re especially grateful to Gov. Jared Polis, the Colorado legislature and our federal delegation for going to bat for higher education during the pandemic. As we look ahead, one of the most effective and immediate ways to drive access and affordability is to double the maximum federal Pell Grant award from $6,495 to $13,000, which is currently under consideration in Congress.
Pell Grants help nearly seven million low- and moderateincome students annually attend and complete college in the U.S. Last year, more than 77,000 students in Colorado received Pell Grants — students at all types of institutions, including four-year public universities and colleges; community colleges; and private, nonprofit and forprofit colleges. These students go on to contribute to their communities following graduation as the next generation of teachers, nurses, engineers, doctors and more.
Doubling Pell would improve access to all Colorado higher education institutions by making them more affordable, which in turn would provide students with freedom of choice. Rather than considering institutions based solely on cost, students could explore colleges and universities that are best for them based on their educational, professional and life goals.
Regardless of how we expand access to higher education, it’s imperative we do so — and not solely because it’s the right thing to do. It’s also good for our state and nation. Colorado has long attracted companies, large and small, in every conceivable sphere. If we want these companies to remain here — and if we want to be a magnet for new ones — we must offer them a skilled, Colorado-trained workforce. Enabling more students to attend Colorado’s universities and colleges will increase the number of talented, job-ready graduates in the state.
Colorado’s continued vitality hinges upon more people earning a four-year degree. Doing everything we can to make a high-quality education affordable and accessible to all Coloradans is a top priority at CU and at other Colorado institutions. It’s an investment in our students’ futures, the workforce of tomorrow and Colorado’s long-term prosperity and competitiveness.