This dissertation studies the market for higher education and impacts of higher education policy on the market. In the first chapter, I estimate the short-run elasticity of supply of higher education using the rollout of state merit grant programs as plausibly exogenous variation in student demand for in-state higher education. I find that public…

This study tested the Bennett hypothesis by examining whether four-year colleges changed listed tuition and fees, the amount of institutional grants per student, and room and board charges after their states implemented statewide merit-based aid programs. According to the Bennett hypothesis, increases in government financial aid make it easier for…

The outcomes states gain from investing in postsecondary financial aid programs remain hotly debated, leading to great interest in developing programs that are both cost-effective and productive in helping states meet goals. In the 2012-13 academic year, states collectively provided approximately $11.2 billion in financial aid to students enrolled…

In the first decade of the 21st century, the nation, the states, and colleges and universities began to grapple with the challenges of globalization, changing demography, the implications of the digital era, and of a less expansive public sector. Although not a transformative period for higher education, the decade saw significant innovations in…

A central dream of American parents is sending their kids to college. What used to be unusual has now become a necessity if young people are to have a secure life in the middle class in a post-industrial economy. As such, one basic goal of higher education policy should be to make certain that this opportunity is not foreclosed by a family's…