Affording Success: The Causal Impact of Financial Constraints on the College Experience

• In Event: Does Money Matter? The Impact of Financial Aid on Student Success

Abstract

In recent decades, college attainment has grown increasingly important in determining socioeconomic outcomes. Higher education research highlights the inequality in degree attainment among low- and high-income students, but the mechanisms shaping disparate outcomes remain unclear. Drawing on two distinct higher education research literatures aimed at understanding college student success, one focused on the importance of student engagement and the other focused on financial aid, this study investigates how financial aid impacts outcomes for low-income college students by considering the actual experience of college students. Using multilevel path analysis, this research dissects the pathway from financial aid to persistence and achievement through student engagement using data from a statewide randomized controlled trial.

Author

• Lauren Theresa Schudde, Teachers College, Columbia University