California's higher education systems are entering an era of fiscal uncertainty as the population of young people is projected to stagnate or decline in the coming decade. As the state looks to turn the page after the pandemic and establish a more stable funding model, significant challenges lie ahead in the near term. To inform future policies,…

The paper studies the impact of financial aid on long-term educational attainment and labor market outcomes in Colombia. In 2014, the government launched a large-scale and generous student loan program called "Ser Pilo Paga." It offered full tuition coverage to students admitted to one of 33 government-certified high-quality universities…

In August 2022, the U.S Department of Education (ED) announced it would invoke the Higher Education Relief Opportunities for Students Act of 2003 (HEROES Act) to cancel up to $20,000 of federal student loan debts for borrowers who fell below certain income thresholds. The HEROES Act authorizes the Secretary to "waive or modify" statutory…

This article estimates earnings impacts for those who completed long-term college credentials (degrees or college certificates requiring a year or more of study) and those who did not in an experimental evaluation of a federally-funded sectoral job training program. The experimental evaluation found no overall impact of the program on earnings,…

Based on combined data from Baccalaureate & Beyond (B&B:16/17), Integrated Postsecondary Education Data System (IPEDS), and Barron's Profiles of American Colleges, this study utilizes zero-inflated beta regression methods and analyzes individual and institutional factors that predict debt burden by gender. Results show that women are less…

A growing and often unidentified segment of students on campuses who are hidden in plain sight are those who are homeless. In 2019, the national average for homelessness at two- and four-year institutions in the United States was between 14-16% (Baker-Smith et al., 2020). For these students, very small issues can become huge problems, such as the…

Saudi Arabia has been one of the major contributors to the increasing number of international students in the United States. The purpose of the study is to investigate the impact of resources provided to Saudi Arabian students while they are pursuing their postsecondary education using Lizzio's "Five Senses of Success Model" as a…

Earning a college degree has long been critical to unlocking many high-paying jobs -- and, as a result, to economic mobility and security. Increasingly, however, the traditional "norm" of a college student -- one who enrolls straight out of high school, receives some support from their parents, lives on campus, and does not have work or…

Since both colleges and students have very different resources and starting points, good policy should strengthen the ability of campuses and students to succeed and not punish them for taking important chances despite limited resources and greater challenges. Policymakers are interested in using student loan repayment rates as an accountability…

The U.S. Department of Agriculture (USDA) and the Department of Education have taken some steps to connect college students with Supplemental Nutrition Assistance Program (SNAP) benefits to help them pay for food, but gaps in planning and execution remain. Effective July 2024, a new law gave Education authority to share students' Free Application…

College enrollment has increased over the years but so has the cost. The total cost of attending college -- including tuition, room and board, necessary books and supplies, and more -- would be prohibitive for most students if not for financial aid. Yet, many students still cite financial barriers as the top reason for opting out of college.…

Federal student aid formulas prioritize income over wealth. Using nationally representative data from two cohorts, we argue that federal student aid policy thus under-addresses wealth-driven financial need and that this oversight contributes to racial disparities in student debt, in turn reinforcing the United States's longstanding racial wealth…

Congress has provided authority to the U.S. Department of Defense (DOD) to fund off-duty voluntary education for Active and Reserve Component servicemembers. Congress and DOD have conceived of tuition assistance (TA) as a quality-of-life benefit, force-shaping tool, and a mechanism for developing human capital in the Armed Forces. The TA program,…

Paying for college is often a family affair, with both parents and students contributing. We study the effects of college on family finances using administrative data on the universe of federal aid applicants in California linked to credit records. We provide the first comprehensive analysis of how both students and their parents use debt with…

While the popularity of state-financed merit-based scholarships has increased since the 1980s, policymakers struggle to maintain these programs because of growing costs. Some have tried to manage this tradeoff through eligibility changes or award amounts; however, little empirical research exists on the effectiveness of these changes. We add to…