We use the random assignment of a private Wisconsin need-based grant to estimate the impacts of financial aid on college persistence among Pell Grant recipients at 13 public universities over three years. For equity and efficiency reasons, governments use conditional cash transfers to reduce the relationship between family income and college…

The simulation showed that tax rates tend to become more unequal as spending variation goes up. Although this runs counter to the general goals of reform, the analysis showed that the lowest income, lowest wealth, and lowest spending districts benefited at the expense of high income districts. (Author/IRT)