Little is known about the effects of need-based financial aid disbursed late into college and how students respond when they approach lifetime limits for receiving aid. I exploit changes to federal Pell Grant eligibility rules that reduced the lifetime availability for grant aid from 9 to 6 full-time-equivalent years to examine these questions.…

RAND researchers studied more than 450,000 recipients of New Jersey's Tuition Aid Grant (TAG) -- the nation's most generous state-funded grant program per state resident college student -- to explore whether getting larger amounts of grant aid led to higher graduation rates for students at varying income levels and attending two-year, four-year,…

This dissertation includes three chapters focusing on policies directly related to improving college access and success. The first chapter focuses on lifetime eligibility of federal and state financial aid policies. The Pell Grant plays a critical role in helping students across the US to afford undergraduate education. In spite of its importance…

A common misperception suggests that a high-achieving student can easily complete a degree with very limited debt, and that students with high levels of debt are thus underachievers. This assumption is supported by memories of previous decades when it was realistically possible for most students to work their way through college. This view,…

Postsecondary leaders and policy-makers have turned to performance-based aid programs as one way reduce time to degree completion and improve completion rates among low income students. By tying aid eligibility to minimum academic performance standards in college, it is thought that greater academic commitment can be promoted. Underlying these…

The analysis in this report examines the national gap and institutional-level gaps in graduation rates between Pell and non-Pell Grant recipients at nearly 1,150 four-year, public and private nonprofit institutions across the nation. The data show the national graduation rate for Pell Grant recipients attending institutions in the sample is…

Time is a core unit of human capital. With only 24 hours in a day, the way people choose to spend their time is an indication of what they value and the constraints under which they operate. In the higher education context, time-to-degree is a key element of higher education analysis, particularly at a time of constrained resources and a growing…