This paper examines whether an improved Pell Grant—funded through an increase in corporate income tax—may be an effective avenue for addressing the student loan crisis. This could be accomplished by making college debt free for all low- and middle-income recipients attending public colleges. Also examined is the student loan debt crisis and a complimentary cancellation of all outstanding student loan debt. Finally, I address potential criticisms of these policy options and discuss alternatives that may mitigate them while also producing maximal positive impact.