A new analysis identifies 36 colleges facing significant financial risk due to potential Pell Grant cuts. While large institutions receive the largest overall Pell Grant funding, a number of smaller colleges are disproportionately reliant on this aid. These institutions, often serving students from low-income backgrounds, could face severe budgetary challenges if Pell Grant funding is reduced, potentially impacting enrollment, program offerings, and overall institutional stability. The report highlights the vulnerability of these smaller, Pell-dependent colleges within the higher education landscape.