Over the last forty years, non-elite private institutions have steadily increased listed tuition and institutional aid. This practice has continued even though the net tuition revenue gains from incoming students have become minimal. We present a new explanation for why these yearly increases continue: The pricing structure of non-elite privates…

Private nonprofit colleges are increasingly using tuition resets, or a decrease in sticker price by at least 5%, to attract new students and counter declining demand. While discounting tuition with institutional aid is a common practice to get accepted students to matriculate and to increase affordability, a tuition reset is a more transparent…

The discrepancies in college enrollment based on a student's socioeconomic background challenges the upward mobility of students from low socioeconomic backgrounds. Jesuit colleges and universities, guided by Catholic Social Teaching and their own focus on social justice, are uniquely positioned to facilitate the social mobility of the…

This dissertation studies the market for higher education and impacts of higher education policy on the market. In the first chapter, I estimate the short-run elasticity of supply of higher education using the rollout of state merit grant programs as plausibly exogenous variation in student demand for in-state higher education. I find that public…

We examine listed tuition and institutional aid practices within the US private sector, a sector where market pressures are relatively strong and consequently influence organizational behavior. We present a conceptual framework that highlights three psychological aspects of pricing--the price-quality heuristic, ego-expressive aspects of aid, and…

Public sector universities offer in-state and out-of-state students similar amounts of institutional aid per ACT point. Private universities, however, offer in-state students over 65% more aid per ACT point than out-of-state students. I develop a general equilibrium model to explain why private universities price discriminate in favor of in-state…

Over the past two decades, the practice of tuition discounting has become commonplace, and the discount percentage has steadily increased since 2008. This study replicates the work executed by Juliana Browning in 2013. This study focuses on the sustainability and viability of Title IV participating, private, four-year, not for profit, degree…

Private nonprofit four-year institutions have been increasing the amount of institutional aid provided to students, in the pursuit of enrollment and revenue management objectives and goals. Most of this aid is being funded using the institution's operating funds. This study investigated the relationship between unfunded institutional aid and net…

This dissertation consists of three chapters on the industrial organization of higher education. Chapter 1 studies the impacts of mergers and acquisitions on students' outcomes. We explore a series of acquisitions of private higher education institutions in Brazil to conduct an ex-post analysis of the effects of mergers. Using detailed…

Between 2000 and 2010, U.S. public colleges and universities experienced widespread and uneven changes in funding from state and local appropriations. We find that over this period annual decreases in statewide appropriations led to lower public enrollment and higher for-profit enrollment (with no effect on enrollment overall), as well as…

Each year, National Association of State Student Grant and Aid Programs (NASSGAP) completes a survey regarding state-funded expenditures for postsecondary student financial aid. This report provides data regarding state-funded expenditures for student financial aid and illustrates the extent of efforts made by the states to assist postsecondary…

There is widespread concern in the policy community that colleges and universities are increasingly shifting their financial aid budgets to favor students from high-income families. Observers often argue that institutions of higher education are offering more merit aid to the most affluent students, leaving less aid for their low-income peers. To…

With student loan debt reaching approximately $1.6 trillion, many are concerned that student loans may be the next financial bubble to burst. CARES Act funding and U.S. Department of Education actions led to historically low levels of delinquency in 2020-2021. However, there is concern that issues will balloon as soon as governmental action and…

Tuition-free college policies have gained momentum since the implementation of the Tennessee Promise, which provides financial aid to students pursuing two-year post-secondary degrees in Tennessee. While previous research has addressed the effects of similar programs on student outcomes, scholars have yet to thoroughly investigate potential…

Over the last two decades, prices in higher education have grown more quickly than prices in almost any other sector of the economy. Tuition inflation has been extensively examined. The examinations, however, have focused on a narrow set of explanations, none of which has revealed obvious opportunities for policy interventions that would slow this…