Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/185252 
Year of Publication: 
2018
Series/Report no.: 
IZA Discussion Papers No. 11792
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
We estimate effects of the Pell Grant - the largest U.S. federal grant for college students - using administrative data from Texas public colleges and a discontinuity in grant generosity for low-income students. Within four-year institutions, eligibility for additional grant aid significantly increases first-time students' degree completion and later earnings. Our estimated impacts on earnings alone are enough to fully recoup government expenditures within 10 years, suggesting that financial aid likely pays for itself several times over.
Subjects: 
Pell Grant
JEL: 
H52
I22
I26
Document Type: 
Working Paper

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