Gaps in average college success among students of differing backgrounds have persisted in the United States for decades. One of the primary ways governments have attempted to ameliorate such gaps is by providing need-based grants, but little evidence exists on the impacts of such aid on longer-term outcomes such as college persistence and degree…

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…