Within the past four decades the gap between the richest and poorest students who earn a bachelor’s degree by 24 has doubled. 
Since 1970 the percent of students from low income families who complete college has risen from 6 to 9 percent. However, students from the richest families completion rate has risen from 44 to 77 percent. 
Experts say several factors contribute to the growing gap between these students including college readiness, limited transportation and full time jobs.
The increase in the cost of attending college has also contributed to the disparity among students. In 2012 it was found that the price of attending college had more than doubled since 1975 when the Pell Grant program was introduced.
The initial purpose of the Pell Grant program was to assist low-income students attend college affordably. In 1975 Pell grants covered 67 percent of college cost and in 2012 they covered 27.  
The availability of Pell grants has increased under the Obama Administration but the study reveal the increase hasn’t kept up with the rising cost of college.