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Student Financial Aid

Higher education provides an opportunity for economic mobility to low-income families. Throughout the past three decades, the returns to college have increased, leading to a surge in demand for higher education. Yet despite the increasing return to higher education, low-income individuals still lag in their opportunity to attend college, and the disparity in college attendance between low- and high-income students continues to be large.

College affordability is one potential explanation for the existing gaps between low- and high-income students. College tuition has increased dramatically over the past three decades, and students who either do not attend college or drop out of college frequently cite concerns with affordability. Financial aid policies are the most prominent way that state and federal governments increase college access for low-income families.

Financial ...

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