State grants are still not enough to pay for college

It is no secret: college tuition continues to rise despite the shrinking middle class and higher than expected unemployment rates. Is there a correlation between the shrinking middle class and the rise in college tuition? Many, including the president of the United States, believe so, and are increasing grants, including state grants, to help students. Promoting his goal of having the "highest portion of college graduates by 2020," President Obama recently told a University of Texas audience that education is "a prerequisite to prosperity," according to a Christian Science Monitor story.

While Obama has allocated an additional $40 billion for Pell Grant scholarships and the maximum amount offered to students has increased to $5,550, the Pell Grant alone is not enough to pay for education and many students are turning to state grants to help pay for their degrees.