Bucky's Tuition Promise (BTP) at the University of Wisconsin--Madison offers generous financial aid to low-income, in-state students. Unlike many similar programs at other public universities, financial eligibility for BTP depends solely on a family's Adjusted Gross Income (AGI), rather than on the Expected Family Contribution (EFC) from the Free…

When the COVID-19 pandemic began, the federal government responded by expanding the country's safety-net programs, including through stimulus payments. There were also significant federal policy changes to the Supplemental Nutrition Assistance Program (SNAP), the largest food assistance program in the United States. Benefit amounts were increased,…

Federal student aid formulas prioritize income over wealth. Using nationally representative data from two cohorts, we argue that federal student aid policy thus under-addresses wealth-driven financial need and that this oversight contributes to racial disparities in student debt, in turn reinforcing the United States's longstanding racial wealth…

In this dissertation, I study some of the factors that determine schooling decisions in middle-income economies in Latin America. In the first chapter, I examine the impacts of a large-scale program in Colombia that installs water treatment facilities in rural schools. To identify causal effects on student and community outcomes, I leverage…

Substantial increases in public university tuition often raise concerns about college affordability. But assessment of the impacts on low- and moderate-income families requires consideration of whether net tuition--tuition less grant aid--has increased commensurately. This paper describes recent shifts in net tuition by family income and…

Current formulas for awarding federal student financial aid are based primarily on income and don't fully account for wealth inequality, especially by race. Students from low-income and low-wealth families--who are disproportionately Black and Latine--often have to take out more student loans to attend college. Inevitably, without family wealth to…

Many empirical studies have established that financial aid improves college attainment. Few have been able to test why. This study used administrative records of employment and earnings to get a more complete picture of students' finances during college and test one potential mechanism, that financial aid buys students time by allowing them to…

There is mounting evidence of increased international student financial and work precarity over the last decade in Australia. Yet, there has been a little scholarly analysis of which students are most affected by precarity and its sources. Drawing on two surveys of international students in Australia's two largest cities, conducted before and…

This study considers socially stratified take-up of income-driven repayment plans among federal student loan borrowers with high-debt payment obligations. Qualitative analyses of borrower complaints from the Consumer Financial Protection Bureau are used to document borrowers' experiences of administrative burden in the federal loan repayment…

Over the last forty years, non-elite private institutions have steadily increased listed tuition and institutional aid. This practice has continued even though the net tuition revenue gains from incoming students have become minimal. We present a new explanation for why these yearly increases continue: The pricing structure of non-elite privates…

While the tuition fee system has had a large amount of political and media attention in the last two decades, far less attention has been paid to the student maintenance system -- the amount of funding students have access to for day to day living expenses. But for many students, this funding is of more immediate importance, and can have a major…

In 2015, the City University of New York (CUNY) launched a new program--Accelerate, Complete, and Engage (ACE)--aimed at improving college graduation rates. A randomized-control evaluation of the program found a nearly 12 percentage point increase in graduation five years after college entry. Using this impact estimate and national data on…

The Higher Education Act of 1965, as amended, specifies a loan origination fee of 1 percent for all Direct Subsidized Loans and Direct Unsubsidized Loans, and a fee of 4 percent for all Direct PLUS Loans for both parent borrowers and graduate and professional student borrowers. Student loan origination fees, the hidden student loan tax, generated…

National Association of Student Financial Aid Administrators' (NASFAA's) National Student Aid Profile is an annual publication designed to give a high-level overview of the federal student financial aid programs that provide funding to millions of students each year. This profile includes an overview of: (1) The Federal Pell Grant Program; (2) The…

National Association of Student Financial Aid Administrators' (NASFAA's) National Student Aid Profile is an annual publication designed to give a high-level overview of the federal student financial aid programs that provide funding to millions of students each year. This profile includes an overview of: (1) The Federal Pell Grant Program; (2) The…