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A Quasi-Experimental Estimate of the Impact of Financial Aid on College-Going

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Thomas J. Kane
Abstract

Although state and federal governments heavily subsidize the price of college, estimates of the impact of these subsidies on college enrollment have not been well-identified. I use a regression discontinuity design to study the impact of the CalGrant program in California on college going. Eligibility requires students to meet minimum thresholds on three characteristics: income, assets and high school Grade Point Average. Because there are several dimensions of eligibility, the analysis allows for specification tests, estimating any discontinuities along a given dimension of eligibility, dependent upon whether one satisfied the other two dimensions of eligibility. The paper uses a novel data collection strategy to measure subsequent college enrollment for 150,000 financial aid applicants in 1998 and 1999. The results suggest large impacts (3 to 4 percentage points) of grant eligibility on college enrollment among financial aid applicants, with larger impacts on the choice of private four-year colleges in California.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 9703.

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Date of creation: May 2003
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Handle: RePEc:nbr:nberwo:9703

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I2 - Health, Education, and Welfare - - Education

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  1. Dynarski, Susan & Scott-Clayton, Judith, 2008. "Complexity and Targeting in Federal Student Aid: A Quantitative Analysis," Working Paper Series rwp08-005, Harvard University, John F. Kennedy School of Government. [Downloadable!]
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  2. Stephen L. DeJardins & Dennis A. Ahlburg & Brian McCall, . "An Integrated Model of Application, Admission, Enrollment, and Financial Aid," Working Papers 0104, Industrial Relations Center, University of Minnesota (Twin Cities Campus). [Downloadable!]
  3. Larry Singell & Mark Stater, 2006. "Going, going, gone: the effects of aid policies on graduation at three large public institutions," Policy Sciences, Springer, vol. 39(4), pages 379-403, December. [Downloadable!] (restricted)
  4. Paul Willen & Igal Hendel & Joel Shapiro, 2004. "Educational Opportunity and Income Inequality," NBER Working Papers 10879, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  5. Erik Canton & Andreas Blom, 2004. "Do student loans improve accessibility to higher education and student performance? An impact study of the SOFES program in Mexico," CPB Discussion Papers 33, CPB Netherlands Bureau for Economic Policy Analysis. [Downloadable!]
  6. David Deming & Susan Dynarski, 2009. "Into College, Out of Poverty? Policies to Increase the Postsecondary Attainment of the Poor," NBER Working Papers 15387, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  7. Eric Bettinger & Bridget Terry Long, 2004. "Shape Up or Ship Out: The Effects of Remediation on Students at Four-Year Colleges," NBER Working Papers 10369, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  8. David S. Lee & Thomas Lemieux, 2009. "Regression Discontinuity Designs in Economics," NBER Working Papers 14723, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  9. Canton, Erik & Blom, Andreas, 2004. "Can student loans improve accessibility to higher education and student performance? An impact study of the case of SOFES, Mexico," Policy Research Working Paper Series 3425, The World Bank. [Downloadable!]
  10. Nicole M. Fortin, 2006. "Higher-Education Policies and the College Wage Premium: Cross-State Evidence from the 1990s," American Economic Review, American Economic Association, vol. 96(4), pages 959-987, September. [Downloadable!]
  11. Katharine Abraham & Melissa A. Clark, 2003. "Financial Aid and Students' College Decisions: Evidence from the District of Columbia's Tuition Assistance Grant Program," NBER Working Papers 10112, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  12. Joshua Goodman, 2007. "Who merits financial aid? Massachusetts? Adams scholarship," Discussion Papers 0607-13, Columbia University, Department of Economics. [Downloadable!]
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  13. Meghan Busse & Florian Zettelmeyer & Jorge Silva-Risso, 2004. "$1000 Cash Back: Asymmetric Information in Auto Manufaturer Promotions," NBER Working Papers 10887, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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