We use the natural experiment of a state lottery scholarship to measure the effect of generous financial aid on graduation rates at New Mexico's flagship public university. During the study period, the scholarship program paid full tuition for eight semesters for any state resident earning a 2.5 grade point average in their first semester at any…

The intention of the program is that conditioning additional financial aid on certain behaviors will lead students to increase their effort towards their studies, which in turn will lead them to perform better in their classes in the short-term and progress through their degree requirements at a quicker rate in the medium-term. The program is…

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…

The 1990s ushered in a new age in state financial support for college students, with the rise of broad-based merit scholarships. Starting in the South and spreading from there, the premise of the "new generation" of programs was simple--states should be in the business of rewarding student performance, retaining the state's "best…

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…