The nation's public and private four-year colleges and universities are in danger of shutting down what has long been a pathway to the middle class for low-income and working-class students, the Pell Grant. This report presents a new analysis of little-examined U.S. Department of Education data showing the "net price" -- the amount students pay after all grant aid has been exhausted -- for low-income students at thousands of individual colleges. The analysis shows that hundreds of colleges expect the neediest students to pay an amount that is equal to or even more than their families' yearly earnings. As a result, these students are left with little choice but to take on heavy debt loads or engage in activities that lessen their likelihood of earning their degrees, such as working full-time while enrolled or dropping out until they can afford to return.