Simulating the Longitudinal Effects of Changes in Financial Aid on Student Departure from College
利用风险模型估计，模拟助学金组合变化如何随时间影响学生退学决策。发现将贷款改为奖学金（如普林斯顿大学）对保留率影响较大，而提前发放助学金影响较小。
We use the estimates from a hazard model of college student departure to simulate how changes in financial-aid packaging affect students' departure decisions over time. We find that changing loans to scholarships, as Princeton has recently done, has a large impact on retention and that frontloading aid has a more modest impact. Our results also suggest that financial aid represents more to the student than just the dollar value of the aid offered. Increased knowledge about the temporal effects of different types of financial aid will help policy makers make more informed choices about the structure of financial aid packages.