The Effect of College and University Endowments on Financial Aid, Admissions, and Student Composition PDF Download
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Author: George Bulman
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper examines how private college and university endowments affect financial aid, admissions selectivity, and the economic and racial composition of incoming students. Because endowment levels are a function of expenditures and alumni giving, which are endogenous to the outcomes of interest, the design exploits changes in endowments stemming from variation in investment returns over time and across peer institutions. Estimates reveal that growing endowments generate large and persistent increases in spending overall and for instruction, student services, and administration in particular. However, wealthier colleges and universities do not increase the number of students they serve or the fraction of students receiving aid, and only modestly increase the generosity of aid packages. Instead, these institutions offset higher freshman yield rates by becoming more selective and enrolling fewer low-income students and students of color. Overall, colleges and universities appear to use greater endowment wealth to increase spending and to become more selective, resulting in higher institutional rankings, but do not increase the size or diversity of their student bodies. The results are important in light of the preferential tax treatment of endowments and interest in increasing access to elite postsecondary education for underserved populations.
Author: George Bulman
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper examines how private college and university endowments affect financial aid, admissions selectivity, and the economic and racial composition of incoming students. Because endowment levels are a function of expenditures and alumni giving, which are endogenous to the outcomes of interest, the design exploits changes in endowments stemming from variation in investment returns over time and across peer institutions. Estimates reveal that growing endowments generate large and persistent increases in spending overall and for instruction, student services, and administration in particular. However, wealthier colleges and universities do not increase the number of students they serve or the fraction of students receiving aid, and only modestly increase the generosity of aid packages. Instead, these institutions offset higher freshman yield rates by becoming more selective and enrolling fewer low-income students and students of color. Overall, colleges and universities appear to use greater endowment wealth to increase spending and to become more selective, resulting in higher institutional rankings, but do not increase the size or diversity of their student bodies. The results are important in light of the preferential tax treatment of endowments and interest in increasing access to elite postsecondary education for underserved populations.
Author: George Bulman
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper examines how private college and university endowments affect financial aid, admissions selectivity, and the economic and racial composition of incoming students. Because endowment levels are a function of expenditures and alumni giving, which are endogenous to the outcomes of interest, the design exploits changes in endowments stemming from variation in investment returns over time and across peer institutions. Estimates reveal that growing endowments generate large and persistent increases in spending overall and for instruction, student services, and administration in particular. However, wealthier colleges and universities do not increase the number of students they serve or the fraction of students receiving aid, and only modestly increase the generosity of aid packages. Instead, these institutions offset higher freshman yield rates by becoming more selective and enrolling fewer low-income students and students of color. Overall, colleges and universities appear to use greater endowment wealth to increase spending and to become more selective, resulting in higher institutional rankings, but do not increase the size or diversity of their student bodies. The results are important in light of the preferential tax treatment of endowments and interest in increasing access to elite postsecondary education for underserved populations.
Author: Michael S. McPherson
Publisher: Princeton University Press
ISBN: 9780691005362
Category : Education
Languages : en
Pages : 180
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Book Description
Student aid in higher education has recently become a hot-button issue. Parents trying to pay for their children's education, college administrators competing for students, and even President Bill Clinton, whose recently proposed tax breaks for college would change sharply the federal government's financial commitment to higher education, have staked a claim in its resolution. In The Student Aid Game, Michael McPherson and Morton Owen Schapiro explain how both colleges and governments are struggling to cope with a rapidly changing marketplace, and show how sound policies can help preserve the strengths and remedy some emerging weaknesses of American higher education. McPherson and Schapiro offer a detailed look at how undergraduate education is financed in the United States, highlighting differences across sectors and for students of differing family backgrounds. They review the implications of recent financing trends for access to and choice of undergraduate college and gauge the implications of these national trends for the future of college opportunity. The authors examine how student aid fits into college budgets, how aid and pricing decisions are shaped by government higher education policies, and how competition has radically reshaped the way colleges think about the strategic role of student aid. Of particular interest is the issue of merit aid. McPherson and Schapiro consider the attractions and pitfalls of merit aid from the viewpoint of students, institutions, and society. The Student Aid Game concludes with an examination of policy options for both government and individual institutions. McPherson and Schapiro argue that the federal government needs to keep its attention focused on providing access to college for needy students, while colleges themselves need to constrain their search for strategic advantage by sticking to aid and admission policies they are willing to articulate and defend publicly.
Author: James J. Scannell
Publisher:
ISBN:
Category : Education
Languages : en
Pages : 88
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Book Description
This study looks at the evolution of the financial aid process as a function of higher education administration and its impact on the recruitment and retention of college students. It illustrates the effects on enrollment of differing financial aid strategies and recommends possible directions for meeting the challenges of the 21st century. Discussions focus on the following topics: (1) the institutional need for financial aid; (2) the relationship of aid and costs; (3) programs that work in reverse; and (4) targeting of financial aid to enrollment goals. The following financial aid packages are also examined: uniform self-help; self-help varied by ability to borrow; self-help varied by desirability; self-help varied by ability to borrow and desirability; admit/deny; aid-conscious admission; merit awards; renewals; equity packaging; and differential and preferential packaging. Contains 48 references. (GLR)
Author: Elizabeth A. Duffy
Publisher: Princeton University Press
ISBN: 1400864682
Category : Education
Languages : en
Pages : 321
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Book Description
Admissions and financial aid policies at liberal arts colleges have changed dramatically since 1955. Through the 1950s, most colleges in the United States enrolled fewer than 1000 students, nearly all of whom were white. Few colleges were truly selective in their admissions; they accepted most students who applied. In the 1960s, as the children of the baby boom reached college age and both federal and institutional financial aid programs expanded, many more students began to apply to college. For the first time, liberal arts colleges were faced with an abundance of applicants, which raised new questions. What criteria would they use to select students? How would they award financial aid? The answers to these questions were shaped by financial and educational considerations as well as by the struggles for civil rights and gender equality that swept across the nation. The colleges' answers also proved crucial to their futures, as the years since the mid-1970s have shown. When the influx of baby boom students slowed, colleges began to recruit aggressively in order to maintain their class sizes. In the past decade, financial aid has become another tool that colleges use to compete for the best students. By tracing the development of competitive admission and financial aid policies at a selected group of liberal arts colleges, Crafting a Class explores how institutional decisions reflect and respond to broad demographic, economic, political, and social forces. Elizabeth Duffy and Idana Goldberg closely studied sixteen liberal arts colleges in Massachusetts and Ohio. At each college, they not only collected empirical data on admissions, enrollment, and financial aid trends, but they also examined archival materials and interviewed current and former administrators. Duffy and Goldberg have produced an authoritative and highly readable account of some of the most important changes that have taken place in American higher education during the tumultuous decades since the mid-1950s. Crafting a Class will interest all readers who are concerned with the past and future directions of higher education in the United States. Originally published in 1997. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher:
ISBN:
Category : College costs
Languages : en
Pages : 76
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Book Description
Author: Robert H. Fenske
Publisher:
ISBN:
Category : Federal aid to education
Languages : en
Pages : 108
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Book Description
Author: Rupert Wilkinson
Publisher: Vanderbilt University Press
ISBN: 9780826515025
Category : Education
Languages : en
Pages : 374
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Book Description
Wilkinson traces the history of undergraduate financial aid at American colleges and universities; the origins, purposes, and impacts of merit- and need-based aid; the federal government's role; the evolution of elite private institutions; and the current climate and concerns. The concluding chapter lays out how these factors, combined with increasing costs of attending college, impact low-income minority students and how reforms on campuses and in Washington, DC, can better serve higher education and the more disadvantaged students.
Author: United States. Congress. House. Committee on Education and Labor. Subcommittee on Postsecondary Education
Publisher:
ISBN:
Category : Endowments
Languages : en
Pages : 104
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Book Description
Author: Phuong Anh Vu
Publisher:
ISBN:
Category :
Languages : en
Pages : 51
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Book Description
In 2017, Congress passed the Tax Cuts and Jobs Act, which imposes a tax of 1.4 percent on the investment returns of highly endowed colleges and universities. One motivation for the law was that these colleges have not sufficiently used their extensive resources to reduce the high prices students pay. My thesis examines the relationship between changes in endowment values and colleges’ overall spending and spending by category, with a particular focus on financial aid. I take advantage of the exogenous variation in endowment values generated by the 2008 financial crisis to establish a causal relationship. I find that changes in endowment values consistently result in changes in non-financial aid expenditures in the same direction. In the context of the 2008 financial crisis, falling endowments caused colleges to cut overall spending and spending in each category. However, colleges continued to support low-income students by providing financial aid to even more of them. My results imply that the tax is unlikely to be effective, since the income loss it generates is unlikely to prompt colleges to increase endowment spending, or spending on financial aid without an increase in students’ financial need.
