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Simulating the Longitudinal Effects of Changes in Financial Aid on Student Departure from College

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  • Stephen L. DesJardins
  • Dennis A. Ahlburg
  • Brian P. McCall

Abstract

We use the estimates from a hazard model of college student departure to simulate how changes in financial-aid packaging affect students' departure decisions over time. We find that changing loans to scholarships, as Princeton has recently done, has a large impact on retention and that frontloading aid has a more modest impact. Our results also suggest that financial aid represents more to the student than just the dollar value of the aid offered. Increased knowledge about the temporal effects of different types of financial aid will help policy makers make more informed choices about the structure of financial aid packages.

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Bibliographic Info

Article provided by University of Wisconsin Press in its journal Journal of Human Resources.

Volume (Year): 37 (2002)
Issue (Month): 3 ()
Pages: 653-679

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Handle: RePEc:uwp:jhriss:v:37:y:2002:i:3:p:653-679

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Web page: http://jhr.uwpress.org/

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Cited by:
  1. Solis, Alex, 2013. "Credit Access and College Enrollment," Working Paper Series 2013:12, Uppsala University, Department of Economics.
  2. Eric Bettinger, 2004. "How Financial Aid Affects Persistence," NBER Chapters, in: College Choices: The Economics of Where to Go, When to Go, and How to Pay For It, pages 207-238 National Bureau of Economic Research, Inc.
  3. Jakobsen, Vibeke & Rosholm, Michael, 2003. "Dropping out of School? A Competing Risks Analysis of Young Immigrants’ Progress in the Educational System," IZA Discussion Papers 918, Institute for the Study of Labor (IZA).
  4. Jason M. Lindo & Nicholas J. Sanders & Philip Oreopoulos, 2010. "Ability, Gender, and Performance Standards: Evidence from Academic Probation," American Economic Journal: Applied Economics, American Economic Association, vol. 2(2), pages 95-117, April.
  5. Elliott, William & Friedline, Terri, 2013. "“You pay your share, we’ll pay our share”: The college cost burden and the role of race, income, and college assets," Economics of Education Review, Elsevier, vol. 33(C), pages 134-153.
  6. Kerkvliet, Joe & Nowell, Clifford, 2005. "Does one size fit all? University differences in the influence of wages, financial aid, and integration on student retention," Economics of Education Review, Elsevier, vol. 24(1), pages 85-95, February.
  7. Daniela Glocker, 2009. "The Effect of Student Aid on the Duration of Study," Discussion Papers of DIW Berlin 893, DIW Berlin, German Institute for Economic Research.
  8. DesJardins, Stephen L. & Ahlburg, Dennis A. & McCall, Brian P., 2006. "The effects of interrupted enrollment on graduation from college: Racial, income, and ability differences," Economics of Education Review, Elsevier, vol. 25(6), pages 575-590, December.
  9. Dennis A. Ahlburg & Brian P. Mccall & In-gang Na, . "Time to Dropout From College: A Hazard Model with Endogenous Waiting," Working Papers 0102, Human Resources and Labor Studies, University of Minnesota (Twin Cities Campus).
  10. Maria Knoth Humlum & Rune Majlund Vejlin, 2013. "The Responses Of Youth To A Cash Transfer Conditional On Schooling: A Quasi‐Experimental Study," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 28(4), pages 628-649, 06.
  11. Stephen L. DeJardins & Dennis A. Ahlburg & Brian McCall, . "An Integrated Model of Application, Admission, Enrollment, and Financial Aid," Working Papers 0104, Human Resources and Labor Studies, University of Minnesota (Twin Cities Campus).

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