Claiborne Pell Passes Away

If you are one of the millions of Americans who received an education courtesy of the Pell Grants, your benefactor died today.

Claiborne Pell, a senator from Rhode Island for nearly four decades, died of Parkinson's disease today. He was 90 years old.

Pell Grants were created in 1973 to provide financial aid to college students. The relative value of the grants has decreased in recent years, with college costs increasing while there was virtually no growth in the Pell Grants.

It should come as no surprise to anyone that the money doesn't go as far as it once did. A maximum Pell Grant covered about three-fifths of annual college expenses 20 years ago, but a maximum grant will cover less than one-third of those expenses today.

The amount of a Pell Grant depends on severity of need. And a maximum Pell Grant is seldom awarded to anyone.

Nevertheless, Pell Grants still make it possible for many people to attend college who might not otherwise be able to afford it.

No man lives forever, but Pell's good work ensures his name will.