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Direct linkErwin, Christopher; Binder, Melissa – Education Finance and Policy, 2020
We use the natural experiment of a state lottery scholarship to measure the effect of generous financial aid on graduation rates at New Mexico's flagship public university. During the study period, the scholarship program paid full tuition for eight semesters for any state resident earning a 2.5 grade point average in their first semester at any…
Descriptors: Merit Scholarships, State Aid, Public Colleges, Graduation Rate
