How do Financial Aid Policies Affect Colleges?: The Institutional Impact of the Georgia HOPE Scholarship
This paper examines the effects of financial aid policies on the behavior of post-secondary institutions. Using the introduction of the Georgia HOPE Scholarship as a natural experiment, it investigates the impact of the policy on college pricing, institution aid, expenditures, and state appropriations. The results suggest that four-year colleges in Georgia, particularly private institutions, did respond by increasing student charges. In the most extreme case, colleges recouped approximately 30 percent of the scholarship award. As a result, the institutional responses reduced the intended benefit of the scholarship and increased the cost of college for nonrecipients.
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- 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(3), pages 629-662, September.
- Charles T. Clotfelter, 1996. "Buying the Best: Cost Escalation in Elite Higher Education," NBER Books, National Bureau of Economic Research, Inc, number clot96-1.
- Meyer, Bruce D, 1995. "Natural and Quasi-experiments in Economics," Journal of Business & Economic Statistics, American Statistical Association, vol. 13(2), pages 151-161, April.
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