A new report from the Pope Center for Higher Education Policy aims to document what happens to the billions of dollars the federal government spends each year on Pell grants.

Report co-authors Jenna Ashley Robinson and Duke Cheston discussed their findings during a presentation today to the John Locke Foundation’s Shaftesbury Society. In the video clip below, Robinson discusses the way in which Pell grants help inflate a higher education “bubble.” Cheston discusses the report’s recommendations for steering Pell grants to qualified low-income students.

1:55 p.m. update: Click play below to watch the full 43:03 event.

You’ll find other John Locke Foundation video presentations here.