Governments around the world use grant and loan programs to ease the financial constraints that contribute to socioeconomic gaps in college completion. A growing body of research assesses the impact of grants; less is known about how loan programs affect persistence and degree completion. We use detailed administrative data from Chile to provide…

For years Georgia's HOPE Scholarship program provided full tuition scholarships to high-achieving students. State budgetary shortfalls reduced its generosity in 2011. Under the new rules, only students meeting more rigorous merit-based criteria would retain the original scholarship covering full tuition, now called the Zell Miller Scholarship,…

Previous research shows that low-income and first-generation college students are less likely to obtain the benefits associated with attending graduate school. No-loan programs, which typically administer financial aid through institutional grants, are designed to improve access and success among students from low-income backgrounds, but we know…

For decades, the federal government has expected vocationally focused programs in higher education, especially among for-profit colleges, to lead to gainful employment in a profession. In the mid-2010s, the U.S. Department of Education developed gainful employment (GE) regulations that sought to tie a program's federal financial aid eligibility to…

Net price calculators (NPCs) are online tools designed to increase transparency in college pricing by presenting students with individualized estimates of net prices to attend a given postsecondary institution. The federal template NPC predicts identical aid awards for similarly profiled students attending the same institution. Using the 2012…

Indiana, Oklahoma, and Washington have programs designed to address college enrollment and completion gaps by offering a promise of state-based college financial aid to low-income middle school students in exchange for making a pledge to do well in high school, be a good citizen, not be convicted of a felony, and apply for financial aid to…

Between 2000 and 2010, U.S. public colleges and universities experienced widespread and uneven changes in funding from state and local appropriations. We find that over this period annual decreases in statewide appropriations led to lower public enrollment and higher for-profit enrollment (with no effect on enrollment overall), as well as…

In this paper, I study heterogeneity in graduate students' responses to financial incentives. The incentive was given by a student aid reform in Norway that was intended to increase the proportion of students who graduate on time by offering a reduction of their student loan. Using a difference-in-difference strategy and detailed Norwegian…

In the wake of declining state support for higher education, many state leaders have adopted lottery earmark policies, which designate lottery revenue to higher education budgets as an alternative funding mechanism. However, despite the ubiquity of lottery earmarks for higher education, it remains unclear whether this new source of revenue serves…

Despite having been the largest source of financial aid to low-income college students in the United States, the traditional Pell Grant had one major limitation: If students enrolled in two semesters full-time, they would not have had any tuition support for the summer term of the same academic year. The year-round Pell (YRP) was implemented in…

Place-based promise scholarships are a relatively recent innovation in the space of college access and success. Although evidence on the impact of some of the earliest place-based scholarships has begun to emerge, the rapid proliferation of promise programs largely has preceded empirical evidence of their impact. We utilize regression…

Recent policy and research efforts have focused on simplifying the college-going process, improving transparency around college costs, and helping students make informed decisions. In 2012, the Obama administration released the "shopping sheet," a standardized financial aid offer that is intended to provide students with simplified…