The Free Application for Federal Student Aid (FAFSA) is the primary gatekeeper to secure financial aid for college. The federal government instituted two changes to the process in 2017, commonly known as "prior-prior year" FAFSA: (1) an earlier start date that lengthens the filing period and (2) the ability to use completed taxes from…

This study seeks to assess whether self-interest influences support for two policies to cancel student debt--one forgiving all student debt and one taking a means-tested approach to debt forgiveness. Each of these policy proposals offers a material benefit to certain groups of individuals while imposing cost or having no benefit to others, which…

Outstanding federal student loan debt exceeds $1.6 trillion and is owed by approximately 45 million borrowers. Thus, a policy to broadly cancel federal student loan debt would directly apply to a discrete segment of the U.S. population. Cancelling some amount of federal student loan debt would alleviate loan repayment burdens for qualifying…

Higher education gets a bad rap these days. The public perception is that there is a growing rift between public universities and the elected officials who support them. In "What's Public about Public Higher Ed?," Stephen M. Gavazzi and E. Gordon Gee explore the reality of that supposed divide, offering qualitative and quantitative…

The federal government provides financial assistance to individuals for higher education expenses in two major ways: tax benefits and traditional student aid (loans, grants, and work-study assistance). Since 1997, education tax benefits have become an increasingly important component of federal higher education policy. In 2019 and 2020, 12 tax…

Advocates of tuition-free four-year public college make the argument for it too easy by asserting that it would be paid for out of taxes on the wealthy. Other uses of the revenues are possible. In this paper, Harry Brighouse and Kailey Mullane establish two criteria for comparing different uses of the revenues: the first criterion is, will the…

The Indiana Choice Scholarship Program (ICSP), which began in fall 2011, is a state taxpayer-funded financial aid program that helps low and lower-middle income Hoosiers to send their children to the private K-12 school of their choice. This voucher program has been extremely popular among families, as the number of students receiving scholarships…

The 50-State Comparison on 529 Education Savings Plans provides a national comparison of state policies and activities related to state 529 education savings plans. It focuses on three main categories of state policies related to 529 plans: contributions, withdrawals, and eligible expenses. The information in this resource was gathered from state…

This paper studies the impact of the Economic Growth and Tax Relief Reconciliation Act of 2001 that amended employer-sponsored education assistance (ESEA) fringe benefits from taxable to nontaxable for graduate studies. ESEA is an integral part of graduate education finance and is the dominant non-loan source of student aid. Using…

The 50-State Comparison on 529 Education Savings Plans provides a national comparison of state policies and activities related to state 529 education savings plans. It focuses on three main categories of state policies related to 529 plans: contributions, withdrawals, and eligible expenses. The information in this resource was gathered from state…

The 50-State Comparison on 529 Education Savings Plans provides a national comparison of state policies and activities related to state 529 education savings plans. It focuses on three main categories of state policies related to 529 plans: contributions, withdrawals, and eligible expenses. The information in this resource was gathered from state…

This paper examines how private college and university endowments affect financial aid, admissions selectivity, and the economic and racial composition of incoming students. Because endowment levels are a function of expenditures and alumni giving, which are endogenous to the outcomes of interest, the design exploits changes in endowments stemming…

This document records testimony from a hearing before the Committee on Education and Labor that was held to examine ways to improve accountability and prevent fraud in for-profit college conversions. Member statements were provided by: (1) Honorable Robert C. Scott, Chairman, Committee on Education and Labor; and (2) Honorable Virginia Foxx,…

Government backed income contingent student loans are an increasingly being used to fund higher education. An income contingent repayment plan acts as an incremental marginal tax on labor earnings, which could cause individuals to distort their work effort. This paper uses an administrative dataset from the UK that links student loan borrowers…

Most Americans today need some education beyond high school to secure a well-paying job, and higher education is a key factor in social and economic mobility. But higher education is not accessible to all students. To further equalize opportunity, states must understand options for improving the way they fund higher education. America's public…