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Testing Means-Tested Aid

Murphy, Richard; Wyness, Gillian; (2022) Testing Means-Tested Aid. Journal of Labor Economics 10.1086/719995. (In press). Green open access

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Abstract

We estimate the effect of an unexpected institutional financial aid (IFA) award on student outcomes using administrative data collected from nine universities, exploiting variation in IFA schedules within and across university-entry cohorts. Each £1,000 of IFA during the first year of college increases the chances of completing that year by 1.4 percentage points, improves test scores by 0.059σ and increases the chances of graduating with a good-degree by 3.4 percentage points. We find high ability and low-income students benefit the most and calculate outcome maximising, and cost minimising IFA schedules for each university.

Type: Article
Title: Testing Means-Tested Aid
Event: Association for Education Finance and Policy
Location: Denver
Dates: 17 Mar 2016 - 19 Mar 2016
Open access status: An open access version is available from UCL Discovery
DOI: 10.1086/719995
Publisher version: https://doi.org/10.1086/719995
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
UCL classification: UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education
UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education > IOE - Learning and Leadership > Centre for Education Policy and Equalising Opportunities
UCL > Provost and Vice Provost Offices > School of Education
UCL
UCL > Provost and Vice Provost Offices > School of Education > UCL Institute of Education > IOE - Learning and Leadership
URI: https://discovery.ucl.ac.uk/id/eprint/10146729
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