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ERIC Number: EJ1097300
Record Type: Journal
Publication Date: 2016
Pages: 15
Abstractor: As Provided
Reference Count: 33
ISBN: N/A
ISSN: ISSN-0884-9153
How Money Helps Keep Students in College: The Relationship between Family Finances, Merit-Based Aid, and Retention in Higher Education
Olbrecht, Alexandre M.; Romano, Christopher; Teigen, Jeremy
Journal of Student Financial Aid, v46 n1 Article 2 2016
In this paper, we leverage detailed, individual-level student data to understand the relationships between family finances, merit-based aid, and first-year student retention. With three cohorts of student data that comprise family financial status, institutional merit scholarships, and many of the other known correlates of student retention, we regress sophomore retention of first-time, full-time students on the financial variables with controls. We find that an increase in a family's ability to contribute to educational costs improves a student's chances of retention. Additionally, our data show that institutional financial assistance also bolsters the likelihood that students return for their sophomore year.
National Association of Student Financial Aid Administrators. 1101 Connecticut Avenue NW Suite 1100, Washington, DC 20036. Tel: 202-785-0453; Fax: 202-785-1487; e-mail: membership@nasfaa.org; Web site: http://www.nasfaa.org
Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: New Jersey