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ERIC Number: ED419479
Record Type: Non-Journal
Publication Date: 1998-Apr
Pages: 23
Abstractor: N/A
Reference Count: N/A
Measuring the Impact of Income and Financial Aid Offers on College Enrollment Decisions.
Braunstein, Andrew; Lesser, Mary; McGrath, Michael; Pescatrice, Donn
A study at Iona College (New York) analyzed the impact of demographic, socioeconomic, and financial factors on the enrollment behavior of accepted college applicants. The data base consisted of observations on accepted applicants to the college for the 1991-92, 1993-94, and 1995-96 academic years and included 2,198, 2,553, and 2,353 students (respectively). Regression analysis of the data yielded the following results: (1) Upper income applicants were least likely to enroll; (2) based on SAT scores, Iona attracted better students in 1995-96 than in 1991-92; (3) for every $1,000 increase in the amount of financial aid offered, the probability of enrollment increased between 1.1 and 2.5 percent; (4) while each $1,000 increase in student loans raised the probability of enrollment to more than 5.0 percent, a similar increase in grant money enhanced enrollment prospects by only 3.0 percent; (5) financial aid solely in the form of work-study did not appear to entice prospective students, but, particularly in the latest period, work-study support did contribute to an attractive financial aid package when mixed with grants and loans; and (6) combinations of financial aid types must contain some grant money to be attractive to accepted applicants. Data tables for each cohort are included. (Contains 20 references.) (MAB)
Publication Type: Reports - Research; Speeches/Meeting Papers
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A