A chart showing that the value of Pell grants hasn’t moved much, but tuition, fees, and room and board have increased at both four-year public and four-year private institutions. For example, in 2002, the maximum Pell grant was $6,520. That was roughly the same price as public school tuition and fees and was more than a third of the cost with room and board included. The maximum pell grant is now $6,895, which is well below the $11,940 for public tuition and fees and also significantly below the $23,000 cost with room and board. The gap between Pell grants and private-school costs is even more stark. In 2002, private tuition and fees were $29,460 and about $40,000 with room and board. Today, private tuition is $39,400 and $53,430 with room and board.