Document Tag: financial aid

The Price of STEM Success: The Impact of Need-Based Financial Aid on STEM Production (2021)

This study investigates whether financial grants, allocated based on need rather than major, improves odds that economically vulnerable students will pursue science, technology, engineering, and/or mathematics (STEM) degrees. We implemented a privately-funded financial aid program in Wisconsin and conducted a randomized experiment of its effects for low and moderate-income students at 10 two-year and four-year colleges and universities. The additional financial support greatly increased the probability that students would persist in pursuing a STEM major and/or switch to a STEM major by the third year of school. However, it did not change the odds that students would remain enrolled. Implications for educational opportunity, practice, and policy are discussed.

The True Costs of College (2020)

A book based on a project co-lead by Nancy Kendall and Sara Goldrick-Rab with support from the William T. Grant Foundation.
Systematically examines all key areas of the costs of college; Creates a framework for analyzing college cost impact on student well-being, thus supporting direct policy intervention; Includes data drawn from 18 months of ethnographic research in Wisconsin

Faculty-Run Emergency Aid for Students (ND)

Note: This documented is now outdated and provided for historical purposes only. Please see Believe in Students (believeinstudents.org) for more information on running a FAST Fund.

The Costs of College Attendance: Examining Variation and Consistency in Institutional Living Cost Allowances (2017)

Discussions of college costs often focus on tuition and fees, but living cost allowances for room, board, and other expenses account for more than half of the total cost of attending college. The allowances, developed by colleges and universities, also affect student eligibility for federal financial aid and the accuracy of accountability systems. This study examined institutional variation in living cost allowances and assessed the consistency of allowances by comparing them to living cost estimates specific to the college’s region. Results across multiple specifications indicated that nearly half of all colleges provide living-cost allowances at least 20% above or below estimated county-level living expenses.

Financial Aid Nudges: A National Experiment With Informational Interventions (2022)

Despite high prices, many college students do not re-file the Free Application for Federal Student Aid (FAFSA) or file late, making college less affordable. Low-cost technological interventions delivering personalized information and/or advising may improve refiling and academic outcomes, but questions remain regarding the efficacy of this approach at scale. This multi-pronged randomized experiment tested informational and framing text message interventions for a national sample of approximately 10,000 undergraduates. The text outreach caused earlier FAFSA re-filing for some students. However, gains in re-filing during the active intervention period were not sustained after the intervention concluded and did not translate into additional federal financial aid or improved postsecondary persistence or attainment. Implications for the scaling and targeting of nudging are discussed.

Accelerating College Knowledge: A Fiscal Analysis of a Targeted Early Commitment Pell Grant Program (2014)

The persistently low college attainment rates of youth from poor families are partly attributable to their uncertainty about college affordability. The current federal financial aid system does not provide specific information about college costs until just before college enrollment and the information is only available to students completing a complex application. Evidence suggests this late timing reduces their motivation and ability to adequately prepare for college. This paper evaluates the fiscal consequences of instead making an early commitment of the full Pell Grant to eighth graders from needy families, using a simplified eligibility process. Analyses conducted using the Panel Study of Income Dynamics suggest the predicted costs are low relative to the benefits estimated using prior research findings. A simulation of the estimated fiscal effects indicates that Pell program costs would grow by approximately $1.5 billion annually and the benefits would exceed the costs by approximately $600 million.