Effects of Grant Aid on College Student Outcomes: Systematic Review and Meta-Analysis

• In Event: Exploring the Intricacies of Financial Aid Policy: Aid Applications and Student Outcomes

Abstract

This systematic review and meta-analysis identifies effects of student grant aid on college enrollment, credit accumulation, persistence, academic achievement, degree completion, and post-college labor market outcomes. Using systematic search procedures, we identified 86 studies, estimating 709 effect sizes, published from 2002-2020 that met our inclusion criteria. We organize the 62 grant aid programs examined in these studies into seven categories. Using meta-analysis procedures, we find statistically significant, positive effects of grants on college enrollment, credit accumulation, persistence, and completion, but not post-college labor market outcomes or college academic achievement. Effects of aid varied by aid program type and program characteristics. An evidence gap map illustrates the distribution of average effect sizes for different categories of grant aid and eligibility requirements.

Authors

• Robin R. Lasota, Development Services Group, Inc.

• Joshua R. Polanin, American Institutes for Research

• Laura W. Perna, University of Pennsylvania

• Melissa Angelina Rodgers, American Institutes for Research

• Megan Austin, American Institutes for Research