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作者 Stater, Mark
書名 Strategic tuition and financial aid policies: Implications for enrollment and graduation
國際標準書號 0496836455
book jacket
說明 172 p
附註 Source: Dissertation Abstracts International, Volume: 65-06, Section: A, page: 2312
Adviser: Larry D. Singell, Jr
Thesis (Ph.D.)--University of Oregon, 2004
This paper uses a two essay approach to study the role of financial aid in the higher education market. The empirical essay uses a detailed data set on individuals attending three large public universities to examine the effects of grants, loans and merit aid on graduation. The empirical method exploits variation in aid over time and across institutions, background information on students' hometowns, and the sequential nature of the matriculation process to construct exogenous instruments for financial aid. Generally, the results of basic specifications show that grants, subsidized loans and merit aid positively affect the probability of graduation. Unsubsidized loans and unmet financial need both have negative effects. The inclusion of controls for enrollment selection lessens the estimated impacts of grants and merit aid
A battery of sensitivity tests supports the results of the basic models. The results are insensitive to whether or not aid instruments are constructed with time variation and to whether aid is specified as a maximum or average value. However, when some of the instruments for pre-enrollment aid become instruments for post-enrollment aid, the effects of grants become stronger and those of loans and merit aid become weaker. Results of specifications that interact institutional dummy variables with non-financial covariates suggest that both types of loans have positive effects on graduation, while grants and merit aid have no effect
The theoretical essay develops a model that extends the literature on equilibrium in the higher education market. A simple model of strategic price setting and enrollment decisions is used to predict variation in tuition charged by colleges to various types of students. A collection of propositions shows that strategic interactions among colleges can account for price discounts to students with desirable traits, as well as considerably more subtle pricing patterns. The model is also used to analyze whether increases in government aid lead to increases in college tuition. The results reveal that even in elementary settings, government aid is a complex policy instrument that need not yield clear-cut implications, such as the idea that increases in government aid lead to increases in tuition
School code: 0171
Host Item Dissertation Abstracts International 65-06A
主題 Economics, Labor
Economics, Theory
Education, Finance
Alt Author University of Oregon
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