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Timing and Incentives: Impacts of Student Aid on Academic Achievement

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  • Juanna Schrøter Joensen

    (Stockholm School of Economics)

Abstract

This paper models the university-to-work transition in a stochastic dynamic environment, where students may study and work simultaneously. The structural model is estimated using a unique panel data set with exogenous variation from changing threshold levels for maximum student grants. Estimates reveal that uniformly increasing student aid increases enrollment time. Policy simulations show that because of the non-linear effect of student working hours on academic achievement, however, tilting student aid towards those who work fewer hours increases graduation rates by 5 percentage points, but is ineffective in shortening time-to-graduation. A combination of tilting student aid and improving student abilities earlier in the education production process both increases graduation rates and lowers time-to-graduation. Including incentives into the student aid package with merit aid or timely graduation bonuses also tend to be effective policy devises to amend these academic outcomes.

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Bibliographic Info

Paper provided by Society for Economic Dynamics in its series 2010 Meeting Papers with number 823.

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Date of creation: 2010
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Handle: RePEc:red:sed010:823

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References

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  1. Todd Stinebrickner & Ralph Stinebrickner, 2001. "Working During School and Academic Performance," University of Western Ontario, CIBC Centre for Human Capital and Productivity Working Papers 20011, University of Western Ontario, CIBC Centre for Human Capital and Productivity.
  2. Brodaty, Thomas & Gary-Bobo, Robert J. & Prieto, Ana, 2008. "Does Speed Signal Ability? The Impact of Grade Repetitions on Employment and Wages," CEPR Discussion Papers 6832, C.E.P.R. Discussion Papers.
  3. Vincent Hogan & Ian Walker, 2006. "Education Choice under Uncertainty - Implications for Public Policy," Working Papers 200615, School Of Economics, University College Dublin.
  4. V. Joseph Hotz & Lixin Xu & Marta Tienda & Avner Ahituv, 1999. "Are There Returns to the Wages of Young Men from Working While in School?," NBER Working Papers 7289, National Bureau of Economic Research, Inc.
  5. Christiansen, Charlotte & Joensen, Juanna Schroter & Nielsen, Helena Skyt, 2007. "The risk-return trade-off in human capital investment," Labour Economics, Elsevier, vol. 14(6), pages 971-986, December.
  6. John Bound & Sarah E. Turner, 1999. "Going to War and Going to College: Did World War II and the G.I. Bill Increase Educational Attainment for Returning Veterans?," NBER Working Papers 7452, National Bureau of Economic Research, Inc.
  7. Juanna Schrøter Joensen & Helena Skyt Nielsen, 2006. "Is there a Causal Effect of High School Math on Labor Market Outcomes?," Economics Working Papers 2006-11, School of Economics and Management, University of Aarhus.
  8. Jerome Adda & Russell W. Cooper, 2003. "Dynamic Economics: Quantitative Methods and Applications," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262012014, December.
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Cited by:
  1. Trude Gunnes & Lars J. Kirkebøen & Marte Rønning, 2011. "Financial incentives and study duration in higher education," Working Paper Series 11511, Department of Economics, Norwegian University of Science and Technology.

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