A national analysis found only 91 four‑year colleges qualify as “equity engines” — institutions that enroll substantial shares of Pell recipients and graduate them at high rates — exposing stark geographic gaps that leave many low-income students with limited local options. The report’s author flagged clustering by state and recommended targeted investments and organizational change. Compounding that structural inequity, a separate analysis shows federal disinvestment in Pell and related aid has disproportionately hurt Black students and institutions in Southern states, contributing to enrollment declines and raising questions about the long‑term fairness of federal support for low‑income learners.