It is argued that public investment in student financial aid should be evaluated based on tax revenue returns resulting from the expenditure. A model for estimating tax revenue returns from gains in educational attainment attributable to student aid is developed, and impact of aid on access and persistence is examined. (Author/MSE)

Research on changes in the design of the federal Pell Grant Program between 1973-74 and 1988-89 is reported, with focus on changes in the formulas used to calculate the Student Aid Index and the payment schedule, especially with reference to actual direct and indirect college attendance costs. (Author/MSE)

Analysis of the income-contingent repayment mechanism of the federal direct lending program suggests that it will be considerably more expensive than other repayment options in total interest costs for many; lead to hefty tax liabilities for some; be administratively cumbersome, vulnerable to fraud and abuse, and costly to taxpayers; and invite…

Comparison of federal need-analysis formulas for student financial aid in 1992-93 and 1993-94 focused on elimination of home/farm equity from calculations, parent contributions, and Pell Grant awards. Results suggest higher unmet need and lower Pell Grant awards, and imply that the most needy students may lose gift assistance to more affluent…

The Basic Educational Opportunity Grant program, the largest federal student aid program, is explained. The method by which a student's eligibility is determined is described in detail. In a section on calculation of eligibility for dependent students, two worksheets are provided: that for families with no farm or business assets, and those with…