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The Enrollment Effects of Merit-Based Financial Aid: Evidence from Georgia's HOPE Scholarship

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Author Info
Christopher M. Cornwell (University of Georgia)
David B. Mustard (University of Georgia)
Deepa Sridhar

Additional information is available for the following registered author(s):

Abstract

This paper examines the effects of Georgia's merit-based HOPE Scholarship on college enrollment. Introduced in 1993, the HOPE Scholarship covers tuition, fees, and book expenses for students attending Georgia public colleges, and provides a subsidy of comparable value to students attending in-state private colleges, without any income restrictions. Treating HOPE as a natural experiment, we contrast college enrollment in Georgia with those in the other member states of the Southern Regional Educational Board using IPEDS data for the period 1988-97. We estimate that the HOPE increased total freshmen enrollment by 5.9 percent, with the gains concentrated in 4-year schools. For freshmen recently graduated from high school attending 4-year colleges, two-thirds of the program effect is explained by a decrease in students leaving the state. Both white and black enrollments increased because of HOPE, with the state's historically-black institutions playing an important role. Finally, the total HOPE-induced enrollment increase represents only 15 percent freshmen scholarship recipients.

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Publisher Info
Paper provided by EconWPA in its series HEW with number 0501002.

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Length: 33 pages
Date of creation: 05 Jan 2005
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Handle: RePEc:wpa:wuwphe:0501002

Note: Type of Document - pdf; pages: 33
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Web page: http://129.3.20.41

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Related research
Keywords: Higher Education; Enrollment; HOPE; Merit-based Aid;

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Find related papers by JEL classification:
I - Health, Education, and Welfare

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Marianne Bertrand & Esther Duflo & Sendhil Mullainathan, 2002. "How Much Should We Trust Differences-in-Differences Estimates?," NBER Working Papers 8841, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Susan Dynarski, 2000. "Hope for Whom? Financial Aid for the Middle Class and Its Impact on College Attendance," NBER Working Papers 7756, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Cornwell, Christopher M. & Lee, Kyung Hee & Mustard, David B., 2003. "The Effects of Merit-Based Financial Aid on Course Enrollment, Withdrawal and Completion in College," IZA Discussion Papers 820, Institute for the Study of Labor (IZA). [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Joshua Angrist & Eric Bettinger & Eric Bloom & Michael Kremer, 2004. "Long-Term Consequences of Secondary School Vouchers: Evidence from Administrative Records in Colombia," Natural Field Experiments 0005, The Field Experiments Website. [Downloadable!]
    Other versions:
  2. Waddell, Glen R. & Singell, Jr., Larry D., 2009. "Do No-Loan Policies Change the Matriculation Patterns of Low-Income Students?," IZA Discussion Papers 4362, Institute for the Study of Labor (IZA). [Downloadable!]
  3. Martin D. Dooley & A. Abigail Payne & A. Leslie Robb, 2009. "Merit-Aid and the Distribution of Entering Students Across Ontario Universities," Department of Economics Working Papers 2009-12, McMaster University. [Downloadable!]
  4. Bridget Terry Long, 2007. "Do loans increase college access and choice?: examining the introduction of universal student loans," New England Public Policy Center Working Paper 07-1, Federal Reserve Bank of Boston. [Downloadable!]
  5. Christopher Cornwell & David B. Mustard, 2006. "Merit Aid and Sorting: The Effects of HOPE-Style Scholarships on College Ability Stratification," IZA Discussion Papers 1956, Institute for the Study of Labor (IZA). [Downloadable!]
  6. Bridget Terry Long, 2003. "The Impact of Federal Tax Credits for Higher Education Expenses," NBER Working Papers 9553, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  7. Daniel Aaronson & Kyung-Hong Park & Daniel G. Sullivan, 2006. "The decline in teen labor force participation," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q I, pages 2-18. [Downloadable!]
  8. Dynarski, Susan, 2004. "The New Merit Aid," Working Paper Series rwp04-009, Harvard University, John F. Kennedy School of Government. [Downloadable!]
  9. Michael Kremer & Edward Miguel & Rebecca Thornton, 2004. "Incentives to Learn," NBER Working Papers 10971, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  10. Eric P. Bettinger & Bridget Terry Long & Philip Oreopoulos & Lisa Sanbonmatsu, 2009. "The Role of Simplification and Information in College Decisions: Results from the H&R Block FAFSA Experiment," NBER Working Papers 15361, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  11. Susan Dynarski, 2002. "The Behavioral and Distributional Implications of Aid for College," American Economic Review, American Economic Association, vol. 92(2), pages 279-285, May. [Downloadable!]
  12. Michael Kremer & Edward Miguel & Rebecca Thorton, 2004. "Incentives to Learn," Center for International and Development Economics Research, Working Paper Series 1060, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley. [Downloadable!]
  13. Ross Rubenstein, 2003. "Helping Outstanding Pupils Educationally: Public Policy Issues of the Georgia HOPE Scholarship Program and the Lottery for Education," Center for Policy Research Policy Briefs 25, Center for Policy Research, Maxwell School, Syracuse University. [Downloadable!]
  14. 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)
  15. Susan Dynarski, 2005. "Building the Stock of College-Educated Labor," NBER Working Papers 11604, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  16. Joshua Angrist & Daniel Lang & Philip Oreopoulos, 2006. "Lead Them to Water and Pay Them to Drink: An Experiment with Services and Incentives for College Achievement," NBER Working Papers 12790, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  17. Christopher M. Cornwell & Kyung Hee Lee & David B. Mustard, 2005. "Student Responses to Merit Retention Rules," HEW 0501001, EconWPA. [Downloadable!]
  18. Christopher Cornwell & Kyung Hee Lee & David B. Mustard, 2006. "The Effects of State-Sponsored Merit Scholarships on Course Selection and Major Choice in College," IZA Discussion Papers 1953, Institute for the Study of Labor (IZA). [Downloadable!]
  19. Timothy Conley & Christopher Taber, 2005. "Inference with "Difference in Differences" with a Small Number of Policy Changes," NBER Technical Working Papers 0312, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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