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State Merit-based Financial Aid Programs and College Attainment

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Author Info

  • Sjoquist, David L.

    ()
    (Georgia State University)

  • Winters, John V.

    ()
    (Oklahoma State University)

Abstract

We examine the effects of recently adopted state merit-based financial aid programs on college attendance and degree completion. Our primary analysis uses microdata from the 2000 Census and 2001-2010 American Community Survey to estimate the effects of merit programs on educational outcomes for 25 merit aid adopting states. We also utilize administrative data for the University System of Georgia to look more in depth at the effects of the HOPE Scholarship on degree completion in Georgia. We find strong consistent evidence that state merit aid programs have no meaningfully positive effect on college completion. Coefficient estimates for our preferred specifications are small and statistically insignificant. State merit aid programs do not appear to increase the percentage of young people with a college education.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 6801.

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Length: 40 pages
Date of creation: Aug 2012
Date of revision:
Publication status: forthcoming in: Journal of Regional Science
Handle: RePEc:iza:izadps:dp6801

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Related research

Keywords: degree completion; college attainment; HOPE; merit aid; higher education;

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References

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  1. Joshua Goodman, 2007. "Who merits financial aid? Massachusetts? Adams scholarship," Discussion Papers 0607-13, Columbia University, Department of Economics.
  2. Bound, John & Turner, Sarah, 2007. "Cohort crowding: How resources affect collegiate attainment," Journal of Public Economics, Elsevier, vol. 91(5-6), pages 877-899, June.
  3. Susan Dynarski, 2008. "Building the Stock of College-Educated Labor," Journal of Human Resources, University of Wisconsin Press, vol. 43(3), pages 576-610.
  4. Christopher Cornwell & David B. Mustard & Deepa J. Sridhar, 2006. "The Enrollment Effects of Merit-Based Financial Aid: Evidence from Georgia's HOPE Program," Journal of Labor Economics, University of Chicago Press, vol. 24(4), pages 761-786, October.
  5. David L. Sjoquist & John V. Winters, 2012. "Building the Stock of College-Educated Labor Revisited," Journal of Human Resources, University of Wisconsin Press, vol. 47(1), pages 270-285.
  6. Winters, John V., 2012. "Cohort crowding and nonresident college enrollment," Economics of Education Review, Elsevier, vol. 31(3), pages 30-40.
  7. Guido Imbens & Thomas Lemieux, 2007. "Regression Discontinuity Designs: A Guide to Practice," NBER Working Papers 13039, National Bureau of Economic Research, Inc.
  8. Christopher M. Cornwell & Kyung Hee Lee & David B. Mustard, 2005. "Student Responses to Merit Scholarship Retention Rules," Journal of Human Resources, University of Wisconsin Press, vol. 40(4), pages 895-917.
  9. Dynarski, Susan, 2000. "Hope for Whom? Financial Aid for the Middle Class and Its Impact on College Attendance," National Tax Journal, National Tax Association, vol. 53(n. 3), pages 629-62, September.
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Citations

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Cited by:
  1. Sjoquist, David L. & Winters, John V., 2014. "Merit aid and post-college retention in the state," Journal of Urban Economics, Elsevier, vol. 80(C), pages 39-50.
  2. Bruce, Donald J. & Carruthers, Celeste K., 2014. "Jackpot? The impact of lottery scholarships on enrollment in Tennessee," Journal of Urban Economics, Elsevier, vol. 81(C), pages 30-44.

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