The increasing use by private colleges and universities of financial aid based on "merit", as opposed to based solely on financial need has caused many to raise concerns that this type of aid will go mainly to higher income students crowding out aid to lower income students. However, some analysts suggest that by attracting more "almost…

Merit-based financial aid awards have become increasingly prevalent in the pricing policies of higher education institutions. This study utilizes an experiment to estimate the efficacy of merit-aid awards in achieving the institutional objective of attracting the most academically desirable applicants. I find that merit aid has a statistically…

Graduation rates for male athletes overall as well as men's football and basketball players lag behind those of male non-athletes at Division I colleges and universities. Scholarship athletes, however, are much more likely to be drawn from racial and ethnic groups with lower average graduation rates. After accounting for differences in racial…