Does Pell Propel College Graduates?

Earlier this year, the Congressional Budget Office projected a $7.8 billion temporary surplus for the federal Pell Grant program next year—and some members of Congress can’t wait to spend it on year-round disbursements, which were eliminated in 2011 but recently revived in the Senate. (See here and here also).
The concept has enjoyed bi-partisan support since 2005, when President Bush proposed the idea (p.9). But will restoring these pay-outs really help undergraduates complete their degrees sooner? Not likely.
The Pell Grant program was originally called the Basic Educational Opportunity Grant Program, authorized as part of the Higher Education Amendments of 1972. In

Read more at The Independent Institute