Abstract
We experimentally estimate the effects of a need-based financial aid offer on students’ annual in-state employment and earnings up to eight years after the initial offer. For students in four-year universities, we show the aid offer to reduce employment and earnings throughout the period we study but provide evidence of increased effort on coursework during students, in-college years. We examine the role of outstate migration and reduced loan debt in generating the negative effects in students’ post-college years. We find no significant effects of the aid offer on the labor market outcomes of individuals in two-year institutions.
- Received January 2021.
- Accepted May 2022.
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