We replicate and extend prior work on Florida's Bright Futures merit aid scholarship to consider its effect on college enrollment and degree completion. We estimate causal impacts using a regression discontinuity design to exploit SAT thresholds that strongly determine eligibility. We find no positive impacts on attendance or attainment, and…

We examine the impacts of being awarded a Cal Grant, among the most generous state merit aid programs. We exploit variation in eligibility rules using GPA and family income cutoffs that are ex ante unknown to applicants. Cal Grant eligibility increases degree completion by 2 to 5 percentage points in our reduced form estimates. Cal Grant also…