Did the World War II (WWII) GI Bill increase the probability of completing high school and further affect the probability of poverty and employment for the cohorts for whom it benefited? This paper studies whether the GI Bill, one of the largest public financial aid policies for education, affected low education levels in addition to its…

We use nationally representative survey data from three cohorts of bachelor's degree recipients to examine military veterans' student loan debt at graduation and their employment and earnings 1, 4, and 10 years after graduation, relative to observably similar graduates. We also examine whether the effects of veteran status depend on college…

The 20th century has been called the American Century, and one of its leitmotifs was the great leap forward for millions of Americans from poverty into the middle class. In the 1960s and 1970s, the implementation of the Higher Education Act and Pell Grants allowed large numbers of students from low-income families to enter college. In addition,…