1,389
Views
12
CrossRef citations to date
0
Altmetric
Articles

A Boost for the Middle Class: An Evaluation of No-Loan Policies and Elite Private College Enrollment

, &
Pages 27-55 | Received 14 Apr 2017, Accepted 27 May 2018, Published online: 19 Jul 2018

References

  • Alon, S. (2009). The evolution of class inequality in higher education: Competition, exclusion, and adaptation. American Sociological Review, 74(5), 731–755. doi:10.1177/000312240907400503
  • Angrist, J. D., & Pischke, J. S. (2008). Mostly harmless econometrics: An empiricist’s companion. Princeton, NJ: Princeton University Press.
  • Astin, A. W., & Oseguera, L. (2004). The declining “equity” of American higher education. Review of Higher Education, 27(3), 321–341. doi:10.1353/rhe.2004.0001
  • Autor, D. H. (2014). Skills, education, and the rise of earnings inequality among the “other 99 percent”. Science, 344(6186), 843–851. doi:10.1126/science.1251868
  • Avery, C., Hoxby, C. M., Jackson, C. K., Burek, K., Pope, G., & Raman, M. (2006). Cost should be no barrier: An evaluation of the first year of Harvard’s financial aid initiative. NBER Working Paper no. 12029. Cambridge, MA: National Bureau of Economic Research.
  • Avery, C., & Kane, T. (2004). Student perceptions of college opportunities: The Boston COACH program. In C. Hoxby (Ed.), College choices: The economics of where to go, when to go, and how to pay for it (pp. 355–391). Chicago, IL: University of Chicago Press.
  • Bailey, M., & Dynarski, S. (2011). Inequality in postsecondary attainment. In G. Duncan & R. Murnane (Eds.), Whither opportunity: Rising inequality, schools, and children’s life chances (pp. 117–132). New York, NY: Russell Sage Foundation.
  • Barron’s. (2008). Barron’s profile of American colleges. Hauppauge, NY: Author.
  • Bastedo, M. N., & Jaquette, O. (2011). Running in place: Low-income students and the dynamics of higher education stratification. Educational Evaluation and Policy Analysis, 33(3), 318–339. doi:10.3102/0162373711406718
  • Becker, G. S. (1962). Investment in human capital: A theoretical analysis. Journal of Political Economy, 70(5), 9–49. doi:10.1086/258724
  • Belasco, A. S., Rosinger, K. O., & Hearn, J. C. (2015). The test-optional movement at America’s selective liberal arts colleges: A boon for equity or something else? Educational Evaluation and Policy Analysis, 37(2), 206–223. doi:10.3102/0162373714537350
  • Bertrand, M., Duflo, E., & Mullainathan, S. (2004). How much should we trust differences-in-differences estimates? Quarterly Journal of Economics, 119(1), 249–275. doi:10.1162/003355304772839588
  • Bettinger, E., Long, B. T., Oreopoulos, P., & Sanbonmatsu, L. (2012). The role of application assistance and information in college decisions: Results from the H&R Block FAFSA experiment. Quarterly Journal of Economics, 127(3), 1205–1242. doi:10.1093/qje/qjs017
  • Boatman, A., Evans, B. J., & Soliz, A. (2017). Understanding loan aversion in education: Evidence from high school seniors, community college students, and adults. AERA Open, 3(1), 1–16. doi:10.1177/2332858416683649
  • Brewer, D. J., Eide, E. R., & Ehrenberg, R. G. (1999). Does it pay to attend an elite private college? Cross cohort evidence on the effects of college type on earnings. Journal of Human Resources, 34(1), 104–123. doi:10.2307/146304
  • Carnevale, A. P., & Rose, S. J. (2004). Socioeconomic status, race/ ethnicity,and selective college admissions. In R. D. Kahlenberg (Ed.), America’s untapped resource: Low-income students in higher education (pp. 101–156). New York, NY: Century Foundation Press.
  • Castleman, B. L., & Page, L. C. (2015). Summer nudging: Can personalized text messages and peer mentor outreach increase college going among low-income high school graduates? Journal of Economic Behavior & Organization, 115, 144–160. doi:10.1016/j.jebo.2014.12.008
  • Chetty, R., Friedman, J. N., Saez, E., Turner, N., & Yagan, D. (2017). Mobility report cards: The role of colleges in intergenerational mobility. Retrieved from http://www.equality-of-opportunity.org/papers/coll_mrc_paper.pdf
  • College Board. (2017). Trends in student aid. New York, NY: Author.
  • College Board. (2017). Annual survey of colleges. New York, NY: College Board.
  • College Scorecard. (2018). College Scorecard. Washington, DC: U.S. Department of Education. Retrieved from https://collegescorecard.ed.gov/
  • Dale, S. B., & Krueger, A. B. (2002). Estimating the payoff to attending a more selective college: An application of selection on observables and unobservables. Quarterly Journal of Economics, 117(4), 1491–1527. doi:10.1162/003355302320935089
  • Deming, D., & Dynarski, S. (2010). Into college, out of poverty? Policies to increase the postsecondary attainment of the poor. In P. Levine & D. Zimmerman (Eds.), Targeting investments in children: Fighting poverty when resources are limited. Chicago, IL: University of Chicago Press.
  • Domina, T. (2014). Does merit-aid program design matter? A cross-cohort analysis. Research in Higher Education, 55(1), 1–26. doi:10.1007/s11162-013-9302-y
  • Dynarski, S. (2003). Does aid matter? Measuring the effect of student aid on college attendance and completion. American Economic Review, 93(1), 279–288. doi:10.1257/000282803321455287
  • Dynarski, S. (2004). The new merit aid. In C. Hoxby (Ed.), College choices: The economics of where to go, when to go, and how to pay for it (pp. 63–97). Chicago, IL: University of Chicago Press.
  • Dynarski, S., & Scott-Clayton, J. (2006). The cost of complexity in federal student aid: Lessons from optimal tax theory and behavioral economics. National Tax Journal, 59(2), 319–356. doi:10.17310/ntj.2006.2.00
  • Fiske, E. (2010). The Carolina Covenant. In R. Kahlenberg (Ed.), Rewarding strivers: Helping low-income students succeed in college (pp. 17–70). New York, NY: The Century Foundation.
  • Fitzgerald, R. (2017, June 15). U-M unveils tuition guarantee for Michigan students with need. Ann Arbor, MI: University of Michigan News.
  • Finaid.org. (2017). No loans for low income students. Retrieved from http://www.finaid.org/questions/noloansforlowincome.phtml.
  • Gladieux, L., & Swail, W. (1998). Financial aid is not enough: Improving the odds for minority and lower-income students. In J. King (Ed.), Financing a college education: How it works, how it’s changing (pp. 177–179). Phoenix, AZ: Onyx Press.
  • Glynn, J. (2017, September). Opening doors: How selective colleges and universities are expanding access for high-achieving, low-income students. Lansdowne, VA: Jack Kent Cooke Foundation.
  • Greenstone, M., Looney, A., Patashnik, J., & Yu, M. (2013). Thirteen economic facts about social mobility and the role of education. Washington, DC: The Hamilton Project, Brookings Institution.
  • Grodsky, E., & Jones, M. T. (2007). Real and imagined barriers to college entry: Perceptions of cost. Social Science Research, 36(2), 745–766. doi:10.1016/j.ssresearch.2006.05.001
  • Hearn, J. C., & Rosinger, K. O. (2014). Socioeconomic diversity in selective private colleges: An organizational analysis. Review of Higher Education, 38(1), 71–104. doi:10.1353/rhe.2014.0043
  • Hillman, N. (2013). Economic diversity in elite higher education: Do no-loan programs impact Pell enrollments? Journal of Higher Education., 84(6), 806–833. doi:10.1353/jhe.2013.0038
  • Horn, L. J., Chen, X., & Chapman, C. (2003). Getting ready to pay for college: What students and their parents know about the cost of college tuition and what they are doing to find out. Washington, DC: U.S. Department of Education, National Center for Education Statistics.
  • Hoxby, C., & Turner, S. (2013). Expanding college opportunities for high-achieving, low income students. Stanford Institute for Economic Policy Research Discussion Paper, (12-014). Stanford, CA: Stanford Institute for Economic Policy Research.
  • Hoxby, C. M., & Avery, C. (2012). The missing “one-offs”: The hidden supply of high-achieving, low income students. NBER Working Paper no. 18586. Cambridge, MA: National Bureau of Economic Research.
  • Kantrowitz, M. (2017). No loans for low income students. FinAid.org. Retrieved from http://www.finaid.org/questions/noloansforlowincome.phtml
  • Kelchen, R., Goldrick-Rab, S., & Hosch, B. (2017). The costs of college attendance: Examining variation and consistency in institutional living cost allowances. Journal of Higher Education, 87(6), 1–25.
  • Linsenmeier, D. M., Rosen, H. S., & Rouse, C. E. (2006). Financial aid packages and college enrollment decisions: An econometric case study. Review of Economics and Statistics, 88(1), 126–145. doi:10.1162/rest.2006.88.1.126
  • Lips, A. J. A. (2011). A typology of institutional loan replacement grant initiatives for low-and moderate-income students. Review of Higher Education, 34(4), 611–655. doi:10.1353/rhe.2011.0026
  • Looney, A., & Yannelis, C. (2015). A crisis in student loans?: How changes in the characteristics of borrowers and in the institutions they attended contributed to rising loan defaults. Brookings Papers on Economic Activity, 2015(2), 1–89. doi:10.1353/eca.2015.0003
  • McPherson, M. S., & Schapiro, M. O. (1998). The student aid game: Meeting need and rewarding talent in American higher education. Princeton, NJ: Princeton University Press.
  • National Center for Education Statistics. (2017). Integrated Postsecondary Education Data System [IPEDS]. Retrieved from https://nces.ed.gov/ipeds/.
  • Onink, T. (2017, January 8). 2017 guide to college financial aid, the FAFSA and CSS Profile. Forbes. Retrieved from https://www.forbes.com/sites/troyonink/2017/01/08/2017-guide-to-college-financial-aid-the-fafsa-and-css-profile/#7b14cd4cd43e
  • Pallais, A., & Turner, S. (2007). Access to elites. In S. Dickert-Conlin & R. Rubenstein (Eds.), Economic inequality and higher education: Access, persistence, and success (pp. 128–156). New York, NY: Russell Sage Foundation.
  • Project on Student Debt. (2008). Comparison and analysis of financial aid pledges: How much would families actually have to pay? Washington, DC: The Institute for College Access and Success.
  • Project on Student Debt. (2010). Financial aid pledges to reduce student debt. Washington, DC: The Institute for College Access and Success.
  • Richmond, T. (2018, February 8). UW-Madison: Free tuition for families making less than $56K. AP News. Retrieved from https://www.apnews.com/25d0a966a8c248cba1966e24f54f3ad0/UW-Madison:-Free-tuition-for-families-making-less-than-$56K
  • Rosinger, K. O. (2018). Can simplifying financial aid offers impact college enrollment and borrowing? Experimental and quasi-experimental evidence. Education Finance and Policy. doi:10.1162/edfp_a_00260
  • Rosinger, K. O., Taylor, B. J., & Slaughter, S. (2016). The crème de la crème: Stratification and accumulative advantage among US private research universities. In S. Slaughter & B. J. Taylor (Eds.), Stratification, privatization, and employability of higher education in the US and EU (pp. 81–101). Dordrecht, The Netherlands: Springer.
  • Schultz, T. W. (1961). Investment in human capital. American Economic Review, 51(1), 1–17.
  • The Institute for College Access and Success. (2010). Financial aid pledges to reduce student debt. Washington, DC: The Institute for College Access and Success.
  • Thomas, S. L., & Zhang, L. (2005). Post-baccalaureate wage growth within four years of graduation: The effects of college quality and college major. Research in Higher Education, 46(4), 427–459. doi:10.1007/s11162-005-2969-y
  • U.S. Department of Education Office of Postsecondary Education. (2017). Distribution of federal Pell Grant program funds by institution. Retrieved from https://www2.ed.gov/finaid/prof/resources/data/pell-institution.html
  • U.S. Senate Committee on Finance. (2008, January 24). Baucus, Grassley write to 136 colleges, seek details of endowment pay-outs, student aid. Retrieved from www.finance.senate.gov
  • Waddell, G. R., & Singell, L. D., Jr. (2011). Do no-loan policies change the matriculation patterns of low-income students? Economics of Education Review, 30(2), 203–214. doi:10.1016/j.econedurev.2010.10.004
  • Winston, G. C. (2004). Differentiation among US colleges and universities. Review of Industrial Organization, 24(4), 331–354. doi:10.1023/B:REIO.0000037539.78539.02
  • Zhang, L. (2005). Does quality pay? Benefits of attending a high-cost, prestigious college. New York, NY: Routledge.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.