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How Do Place-based Scholarships Affect Student Borrowing and Academic Outcomes? Lessons from Atlanta

Author

Listed:
  • Carycruz Bueno

    (Economics Department Wesleyan University Middletown, CT 06459)

  • Za Eng Mawi

    (Department of Finance and Economics Texas State University San Marcos, TX 78666)

  • Lindsay Page

    (Education Department and Annenberg Institute Brown University Providence, RI 02906
    NBER)

  • Jonathan Smith

    (Economics Department Georgia State University Atlanta, GA 30303
    IZA)

Abstract

Previous research shows that Achieve Atlanta's place-based scholarship and associated services meaningfully improve college persistence and completion. In this follow-up study that uses similar methods but additional and more detailed data, we examine whether scholarship recipients exhibit different student loan portfolios, course-taking patterns, or academic performance. Using regression analyses, we find that students in their first semester of college who receive the Achieve Atlanta scholarship and associated services are less likely to take out loans, borrow lower amounts, earn more credit hours, and attain higher GPAs. Additionally, we find no evidence that the place-based scholarship crowds out institutional aid. These effects are important in their own right and shed light on potential mechanisms that may drive earlier findings on college success.

Suggested Citation

  • Carycruz Bueno & Za Eng Mawi & Lindsay Page & Jonathan Smith, 2026. "How Do Place-based Scholarships Affect Student Borrowing and Academic Outcomes? Lessons from Atlanta," Education Finance and Policy, MIT Press, vol. 21(4), pages 587-616, Fall.
    • Handle: RePEc:tpr:edfpol:v:21:y:2026:i:4:p:587-616
    DOI: 10.1162/EDFP.a.444
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