Despite the robust literature on the effects of financial aid, the effects of financial aid loss remain largely understudied. We employ a regression discontinuity design, leveraging a minimum GPA scholarship renewal threshold, to examine the effect of losing state merit aid eligibility on college student stop-out, transfer, and bachelor's degree…

Performance funding policies allocate state appropriations to public institutions based in part on retention and completion outcomes, and equity metrics allocate additional funding for graduating historically underserved students. Through interviews of 52 college administrators and state policymakers, I explore campus responses to performance…