The administration of college financial aid is a key venue through which colleges can affect the likelihood that students will make it to graduation. We investigate the effects of an understudied yet consequential federal student aid policy: Return of Title IV Funds (R2T4). Under R2T4, students "earn" Federal Student Aid over a term or…

Regression discontinuity (RD), an "as good as randomized," research design is increasingly prominent in education research in recent years; the design gets eligible quasi-experimental designs as close as possible to experimental designs by using a stated threshold on a continuous baseline variable to assign individuals to a…

The regression discontinuity (RD) design (Thistlewaite & Campbell, 1960; Cook, 2008) provides a framework to identify and estimate causal effects from a non-randomized design. Each subject of a RD design is assigned to the treatment (versus assignment to a non-treatment) whenever her/his observed value of the assignment variable equals or…

This research examines the short term success of a postsecondary federal financial aid program, the SMART Grant, designed to increase this stock of scientific human capital. An exploration of the success of this program provides the opportunity to address two critically important research questions. Do financial incentives encourage students to…