First- to second-year retention rates are one metric reported by colleges and universities to convey institutional success to a variety of external constituents. But how much of a retention rate is institutional inputs, and how much can be understood by examining student inputs? The authors utilize multi-year, multi-institutional data to examine…

Using detailed individual-level data from public universities in the state of Ohio, I estimate the effect of various institutional expenditures on the probability of graduating from college. Using a competing risks regression framework, I find differential impacts of expenditure categories across student characteristics. I estimate that student…