The Contribution of Financial Aid to the Price of Four-Year Institution Attended by 1989/90 Freshmen

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GSE Faculty Research
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Higher Education
Policy and Administration
access to education
affirmative action
college choice
college freshmen
college students
equal education
higher education
institutional characteristics
politics of education
public policy
student costs
student financial aid
Education
Educational Sociology
Education Economics
Education Policy
Higher Education
Race and Ethnicity
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Abstract

By examining the effects of financial aid upon students' choice of what type of institution of higher education to attend, this study addressed the effectiveness of current student financial aid programs in achieving the goal of equal educational opportunity. The study evaluated a sample of 1,916 students in the first follow-up (1992) of the Beginning Postsecondary Student Survey of 1989-90 entering freshmen, a subsample of the National Postsecondary Student Aid Study. Students' choice of institution to attend was measured by the institutional characteristic of price after controlling for the effects of other student and institutional characteristics. The study's conclusions were: (1) that financial aid enabled students to attend higher-priced institutions, although various types and amounts of aid had different effects upon the price of institution attended; (2) that, unlike the results of prior research, loans were positively related to the price of the institution attended; (3) that financial aid was insufficient to enable students from lower socioeconomic backgrounds and Hispanic students to attend the higher-priced four-year colleges and universities for which they were academically qualified; and (4) that the effects of financial aid upon institutional price varied by race group, since loans were less effective for black students than for students of other race groups.

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1996-11-02
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GSE Faculty Research
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2023-05-17T12:16:00.000
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This conference paper was presented at the Annual Meeting of the Association for the Study of Higher Education, held in Memphis, TN, from October 31 - November 3, 1996. It is a National Postsecondary Student Aid Study.
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