RT Journal Article
SR Electronic
T1 Born under a Lucky Star
JF Journal of Human Resources
JO J Hum Resour
FD University of Wisconsin Press
SP 760
OP 784
DO 10.3368/jhr.54.3.1116.8359R1
VO 54
IS 3
A1 Jeffrey T. Denning
YR 2019
UL http://jhr.uwpress.org/content/54/3/760.abstract
AB Financial aid can affect both college enrollment and graduation. The effects on graduation can be driven by students being induced to enroll by financial aid, students who would have enrolled anyway graduating as a result of the financial aid, or both. This study isolates the effect of financial aid on the second group by examining a change in aid that did not change enrollment. I study a discontinuous change in the amount of aid available to students who meet the age cutoff for financial independence. I find that additional aid causes some university seniors to graduate one year earlier.