In this brief, the authors review some of the main goals of state student financial aid programs and provide a few examples of how these programs are organized. They also describe how state programs vary in terms of who benefits. They then discuss various possible designs for joint federal-state policymaking in this area and study their impact.…

The Tennessee Education Lottery Scholarship (TELS) program was designed to meet the unique needs of the state of Tennessee while also incorporating the hallmark elements of existing merit-based aid programs in other states. Developed through a process involving elected officials and members of the academic community, the TELS program aims to…

The "Higher Education Reconciliation Act of 2005" created two new grant programs for undergraduates: the Academic Competitiveness Grant (ACG) program and National Science and Mathematics Access to Retain Talent (National SMART) Grant program. The ACG program is intended to encourage students to take challenging courses in high school and thus…

Although efforts to keep talented students within the state, primarily by offering merit scholarships, are politically popular, state officials are not sure they will be effective. (MSE)