Financial aid has long been used to increase access to postsecondary education, particularly for underrepresented students. Given the size of the financial aid system and the widespread use of aid, it should also be thought of as a tool to improve academic success and postsecondary completion. Evidence suggests that using additional financial aid…

Performance-based scholarships have two main goals: (1) to give students more money for college; and (2) to provide incentives for academic progress. MDRC launched the Performance-Based Scholarship (PBS) Demonstration in 2008 to evaluate the effectiveness of these scholarships in a diverse set of states, institutions, and low-income student…

Low-income students are at particular risk of not persisting to earn a certificate or degree, often because of competing priorities, financial pressures, and inadequate preparation for college. One form of financial assistance designed explicitly to reward students' academic success is a performance-based scholarship, paid contingent on attaining…

The passage of the Higher Education Act of 1965, which extended need-based financial assistance to the general population for the first time, has improved college access for American students, but more work remains to be done to improve college success. According to government statistics, in 2006, about one in six students had earned a degree or…