Pell Grants and Student Success: Evidence from the Universe of Federal Aid Recipients
研究了联邦佩尔助学金对全美受资助学生完成率和毕业后收入的平均影响，发现效果远小于聚焦特定州的近期研究，并指出与州资助项目的互动可能是原因。
The Federal Pell Grant Program lowers the cost of higher education for low-income students. We estimate Pell’s average effect for the universe of federally aided students—the broadest swath of higher education studied to date. Exploiting discontinuities and kinks in the grant schedule, we find that the effect of Pell on completion rates and postcollege earnings is much smaller than the findings of recent prominent studies focused on specific states. We argue that interactions between Pell grants and state aid programs may explain this difference, underscoring the importance of understanding how the impact of financial aid depends on context.