In this brief, the authors explore how state-level decisions in New Hampshire and Vermont manifest in the early childhood education and care sector, through the lens of the interstate Upper Valley region. They demonstrate the significant differences in the reach and adequacy of child care financial assistance programs ("child care…

This annual publication of "The ABCs of School Choice" is a comprehensive, data-rich guide to every private school choice program in America. This publication outlines how each program works, whom it serves, and offers feedback on how it could be changed to help even more families in a particular state. Programs are grouped…

This annual publication of "The ABCs of School Choice" is a comprehensive, data-rich guide to every private school choice program in America. This publication outlines how each program works, whom it serves, and offers feedback on how it could be changed to help even more families in a particular state. Programs are grouped…

This report describes the need analysis formulas used to calculate the Expected Family Contribution (EFC) for federal student aid applicants. The formulas are codified in Title IV of the Higher Education Act (HEA), as amended. The Free Application for Federal Student Aid (FAFSA) is the data collection instrument through which students submit the…

At the end of 2019, 43 million Americans owed over $1.5 trillion in federal student loans. The rapid increase in these balances over the past decade has led many to deem student debt a "crisis." Now, there is growing support among Democratic policymakers, and even some Republicans, to immediately cancel all or most of the federal…

Eligibility for many federal, state, and institutional financial aid programs is determined by the expected family contribution (EFC) from the Free Application for Federal Student Aid (FAFSA), which functions as a tool to ration scarce aid dollars. The lowest possible EFC under current rules is zero, but this obscures a wider distribution of…

States collectively invest over $12 billion a year to support over 4.5 million students through financial aid programs. This interactive 50-State Comparison provides a look at the specific criteria employed in the top two largest aid programs by state. This interactive resource includes details about which state programs are linked to measuring…

In this article, we examine the effects of receiving a modest Pell Grant on financial aid packages, labor supply while in school, and academic outcomes for community college students. Using administrative data from one state, we compare students just above and below the expected family contribution cutoff for receiving a Pell Grant. We find that…

The Federal Pell Grant program, authorized by Title IV-A-1 of the Higher Education Act of 1965, (HEA; P.L. 89-329), as amended, is the single largest source of federal grant aid supporting undergraduate students. The program provided approximately $29 billion in aid to approximately 7.2 million undergraduate students in FY2017. Pell Grants are…

In examining national data on Federal Pell Grant eligibility in the National Postsecondary Student Aid Study (NPSAS), we were puzzled to discover that many students who appear to have eligible Expected Family Contributions (EFCs) do not receive the award. We use institutional data from a large public university to understand and enumerate changes…

Grant aid reduces the financial burden of human capital investment in postsecondary education. Theory suggests grant aid should substitute for other financial resources such as borrowing and labor market participation. Although studies have individually examined the impact of grant aid on hours of paid work and on borrowing for education, students…

The Free Application for Federal Student Aid (FAFSA) is an important tool to help students find financial assistance. Not only do students fill out the FAFSA to apply for federal aid for post-secondary education, but also to be considered for aid by states, institutions, and private funders. Thus, filling out the FAFSA, specifically, and applying…

Finding the funds to attend college often means that many students must acquire loan debt through financial aid. This confusing but critically necessary process can influence college planning and enrollment decisions, post-college employment, and other important life choices, such as enrolling in graduate school, buying a home, or getting married.…

We analyze changes in financial aid and student enrollment at historically Black colleges and universities (HBCUs) that occurred after the U.S. Department of Education increased the credit history requirements necessary to obtain Parent Loans for Undergraduate Students (PLUS). We use institution-level data to examine financial aid and enrollment…

Students and families all over the country are saving, working, taking out loans, and taking steps to make college affordable. Yet they still find themselves facing an unreasonably high price for college, with unexpected, and sometimes untenable, expenses, and fall short of the resources they need to successfully complete degrees. Financial…