Experimental Evidence on the Impacts of Need‐Based Financial Aid: Longitudinal Assessment of the Wisconsin Scholars Grant
Abstract
We conduct the first long‐term experimental evaluation of a need‐based financial aid program, the privately funded Wisconsin Scholars Grant. Over multiple cohorts, the program failed to increase degree completion and graduate school enrollment up to 10 years after matriculation. The program did reduce time‐to‐degree for some students and modestly increased the number of STEM degrees earned. The lack of robust effects raises important questions about the conditions necessary for financial aid to benefit students.
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Follow-up studies of multiple cohorts of the Wisconsin Scholars Grant ultimately found no effects on persistence, completion, or graduate enrollment for the full sample.
“but follow-up studies of multiple cohorts ultimately found no effects on persistence, completion, or graduate enrollment for the full sample (Anderson, Broton, Goldrick-Rab, & Kelchen, 2020).”
From College Costs, Financial Aid, and Student Decisions (2022) · cites this paper as Anderson, Broton, Goldrick-Rab, & Kelchen, 2020
Cites
Accounting for No-Shows in Experimental Evaluation Designs
Bloom, H. S. (1984) · Evaluation Review · doi:10.1177/0193841x8400800205 · Cited by 532 · see citing works
Paying the Price: College Costs, Financial Aid, and the Betrayal of the American Dream
Goldrick-Rab, S. (2016) · doi:10.7208/chicago/9780226404486.001.0001 · Cited by 379 · cited 4× · see citing works
“For the 2008 cohort, we previously reported no program impacts on persistence to the second year of college, transfer rates, or degree completion rates (Goldrick-Rab, 2016)”
BackgroundInfluentialSelf-citationThe Long-Run Impacts of Financial Aid: Evidence from California’s Cal Grant
Bettinger, E., Gurantz, O., Kawano, L., Sacerdote, B., & Stevens, M. (2019) · American Economic Journal: Economic Policy · doi:10.1257/pol.20170466 · Cited by 110 · see citing works
Fighting for Education: Financial Aid and Degree Attainment
Barr, A. (2019) · Journal of Labor Economics · doi:10.1086/700191 · Cited by 40 · see citing works
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The Long-Run Impacts of Financial Aid: Evidence from California’s Cal Grant
Bettinger, E., Gurantz, O., Kawano, L., Sacerdote, B., & Stevens, M. (2019) · American Economic Journal: Economic Policy · doi:10.1257/pol.20170466 · Cited by 110 · see citing works
College Costs, Financial Aid, and Student Decisions
Dynarski, S., Page, L., & Scott-Clayton, J. (2022) · National Bureau of Economic Research · doi:10.3386/w30275 · Cited by 56 · see citing works
- Authors
- Anderson, D. M., Broton, K. M., Goldrick‐Rab, S., & Kelchen, R.
- Venue
- Journal of Policy Analysis and Management
- Publisher
- Wiley
- Published
- 2019-12-30
- Volume
- 39
- Issue
- 3
- Pages
- 720-739
- ISSN
- 0276-8739 (ISSN-L)
- 1520-6688
- OpenAlex
- W2997091596
- Cited by
- 38
- References
- 4
- Citations by year
- 2026: 2 · 2025: 5 · 2024: 2 · 2023: 4 · 2022: 7 · 2021: 6 · 2020: 9 · 2019: 2 · 2017: 1
- FWCI
- 17.54
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Policy Analysis and Management (publishedVersion)
- Funders
- Spencer Foundation
- Temple University
- Topics
- Social Sciences › Education › Higher Education Research Studies
- Social Sciences › Education › School Choice and Performance
- Social Sciences › Safety Research › Poverty, Education, and Child Welfare
- Keywords
- need-based aid, graduation, graduate school enrollment, time to degree completion, STEM degrees, student outcomes, longitudinal assessment
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