ethanporcaro/eric-fulltext-meta huggingface dataset:
Strong Palliative, but Not a Panacea: Results of an Experiment Teaching Students about Financial Literacy
Author: Gross, Karen
Date: 2005-00-00
Type: Journal Articles
Subjects: Administrator Education,Law Students,Education Courses,Literacy Education,Law Schools,Focus Groups,Money Management,Debt (Financial),Credit (Finance),Questionnaires,Pretests Posttests,Graduate Students,Undergraduate Students

Although rising student debt levels are frequently studied, very little attention has been paid to the lack of student financial literacy and its negative effects. The absence of financial management skills and accompanying low credit scores can increase debt, cause inadvertent defaults, and be harmful for both students and their institutions. For these reasons, one Northeastern law school designed, instituted, and studied a pilot financial literacy education course for its law students. This paper presents a detailed description of this course, which was offered on a one-credit, pass/fail basis over a two-day (14-hour) period. The study involved focus groups and a pre- and post-test questionnaire that was conducted to test its efficacy. The article also describes adaptations made to the course following the study and makes suggestions for course replication. As the study demonstrates, teaching financial literacy to students has measurable benefits, and the prospect of implementing a similar course in a variety of graduate and undergraduate settings merits serious attention. The article also describes avenues for important additional research, including on the longitudinal benefits of financial management education. (Contains 3 tables and 5 graphs.)
Predicting Student Loan Default for the University of Texas at Austin
Author: Herr, Elizabeth
Date: 2005-00-00
Type: Journal Articles
Subjects: Student Loan Programs,Academic Persistence,Loan Default,Predictor Variables,Models,Risk,Intervention,Prevention,Loan Repayment,Paying for College,Race,Ethnicity,Gender Differences,Enrollment,Academic Achievement

During spring 2001, Noel-Levitz created a student loan default model for the University of Texas at Austin (UT Austin). The goal of this project was to identify students most likely to default, to identify as risk elements those characteristics that contributed to student loan default, and to use these risk elements to plan and implement targeted, pro-active interventions to prevent student loan default. UT Austin supplied academic data for the project, and the student loan guarantor Texas Guaranteed Student Loan Corporation (TG) provided the data about borrowers from UT Austin who entered repayment between 1996 and 1999. Results showed that student program completion, persistence, and success were strong predictors of student loan default, as were race/ethnicity, gender, and the school of enrollment at UT Austin. These results emphasize the role of student success and graduation in eventual loan repayment. Interventions that focus on student persistence and academic success were seen as the primary actions needed to help prevent student loan default. (Contains 3 tables and 1 figure.)
The Relationship between High School Math Courses, High School GPA, and Retention of Honors Scholarships
Author: Megert, Diann Ackerman
Date: 2005-00-00
Type: Journal Articles
Subjects: High School Students,Honors Curriculum,Grade Point Average,High Achievement,Predictor Variables,Community Colleges,School Holding Power,Scholarships,Selection,Criteria,Advanced Courses,Mathematics,Academic Achievement,Longitudinal Studies,Calculus,Academic Records

This research examined the high school transcripts of honors scholarship recipients to identify a better criterion for awarding scholarships than high school grade point average (GPA) alone. Specifically, this study compared the honors scholarship retention rate when the scholarship was awarded based on completed advanced high school math classes to the retention rate when the scholarship was based solely on GPA. The research, conducted at a community college in New Mexico, used a calculated MathScore variable and a dichotomous HighMath variable. The HighMath variable was counted if the student completed a class in trigonometry, pre-calculus, or calculus. The results indicated that awarding the scholarship based on grades earned in high school math classes would not increase retention rates. However, the retention rate was 10% higher if the scholarships were awarded based on a high GPA and on completing an advanced math class than when scholarships were based on GPA alone. While using this combination of advanced math and high GPA might limit access to scholarship funds, access to scholarships cannot be the sole consideration. Students' success in retaining scholarships and remaining in college is paramount. (Contains 4 tables.)
Institutional Grants: Investing in Student Retention and Graduation
Author: Gansemer-Topf, Ann M.
Date: 2005-00-00
Type: Journal Articles
Subjects: Higher Education,College Administration,Admissions Officers,Administrative Policy,Enrollment Management,College Bound Students,Paying for College,Student College Relationship,Student Loan Programs,Educational Finance,Scholarships,Student Financial Aid,Grants,Institutional Evaluation,Reputation,School Holding Power,Academic Persistence,Graduation Rate,Private Colleges,Nonprofit Organizations,Expenditures,Needs Assessment,Longitudinal Studies,Predictor Variables

This study examines how institutional expenditures and grants (student financial aid) relate to retention and graduation. It looks at this relationship over a 10-year period and examines differences between institutions with low- and high-admissions selectivity standards. In general, expenditures for institutional grants positively contributed to retention and graduation rates except at high-selectivity institutions, where institutional grants did not significantly contribute to retention and graduation rates. (Contains 2 tables.)
A State-Supported, Merit-Based Scholarship Program that Works
Author: Ackerman, Robert
Date: 2005-00-00
Type: Journal Articles
Subjects: Higher Education,Merit Scholarships,Access to Education,State Government,Politics of Education,Educational Policy,Government School Relationship,In State Students,Cohort Analysis,Academic Persistence,State Colleges,Human Capital,Models,Alignment (Education)

The Millennium Scholarship Program, which provides merit-based scholarships for Nevada's students, is designed to increase college participation, college persistence, and the number of in-state students enrolling in state institutions of higher education (IHEs). Data gathered over the past five years reflect that Nevada's Millennium Scholarship Program has successfully met its goals. Further, it has improved student quality in IHEs, as is evident by a lower percentage of students taking college remedial courses. A major focus of this study is to demonstrate how Nevada's merit-based scholarship program may serve as a model for other states attempting to improve college participation. (Contains 6 tables and 1 figure.)
An Analysis of the Use of Education Tax Credits at Four Public Community Colleges
Author: Silliman, Benjamin Rue
Date: 2005-00-00
Type: Journal Articles
Subjects: Taxes,Tax Credits,Paying for College,Student Costs,Student Financial Aid,Need Analysis (Student Financial Aid),Family Financial Resources,Community Colleges,Two Year College Students,Quality Assurance,Middle Class,Low Income Groups,Predictor Variables,Public Policy,Educational Policy,Policy Analysis,Federal Programs,Financial Aid Applicants,Student Characteristics,Federal Legislation

This study examined the use of education tax credits at four community colleges using data from the Federal Quality Assurance Program in 1998, the first year of the HOPE Scholarship and Lifetime Learning Tax Credit (LLTC). Preliminary estimates indicated that the two tax credits were expected to primarily benefit middle-income tax filers with adjusted gross incomes (AGI) falling between $40,000 and $80,000. Also, claimants were not expected to benefit from the Federal Pell Grant program. Of the sample of federal 1998 tax returns examined in this study, only 11.2% claimed a HOPE/LLTC, averaging $859. In addition, the average adjusted gross income (AGI) of claimants was $35,867, with approximately 59% of AGI levels falling below $40,000. This study also examined Federal Pell Grant and earned income tax credit (EITC) use to determine to what extent lower-income tax filers are claiming the HOPE/LLTC. The results indicate that approximately 58% of student HOPE/LLTC claimants also received Pell, averaging $1,775, while 14% of independent student and parent HOPE/LLTC claimants also claimed an EITC, averaging $924. Other variables examined include use of a paid tax preparer or self-preparation (by hand vs. tax software). The results indicate that a larger percentage of the HOPE/LLTC came from lower income levels than originally projected. While the results of this study are limited and only examine data elements from a financial aid filer database, the information can be useful to policy makers in determining if the HOPE/LLTC is benefiting taxpayers in accordance with the policy's intent. (Contains 9 tables.)
College Affordability: Implications for College Opportunity
Author: Perna, Laura W.
Date: 2006-00-00
Type: Journal Articles
Subjects: Ability,Paying for College,Career Development,Health Care Costs,Financial Problems,Money Management,Fiscal Capacity,Educational Trends,Attitudes,Public Opinion,Family Income,Debt (Financial),Differences,Socioeconomic Status,Educational Opportunities,Student Financial Aid,Financial Needs,Student Costs,Public Policy,Public Officials,Leadership Responsibility

By examining trends in college affordability, this article explores the extent to which the public perception that college is not affordable is justified. First, the article describes trends in national indicators that contribute to ability to pay, including income growth, health care costs, debt burden, and personal savings rates. Trends in college pricing, including tuition and fees, unmet financial need, and student aid, are then examined. Finally, the article considers the potential contribution of these trends to college opportunity. Based on this examination, it is clear that college affordability has declined in recent years, especially for those in low-income and lower-middle-income families. In order to promote equality of college access and choice, policymakers should consider ways to improve affordability, particularly by targeting financial aid resources toward students from low- and lower-middle-income backgrounds. (Contains 3 tables and 1 footnote.)
Students' Perceptions of Factors that Affect College Funding Decisions
Author: Porter, Julia Y.
Date: 2006-00-00
Type: Journal Articles
Subjects: Higher Education,Educational Finance,College Students,Student Attitudes,Decision Making Skills,Influences,College Choice,Paying for College,Student Financial Aid,Individual Counseling,Student Surveys,Student Reaction,Student Loan Programs,Debt (Financial),Loan Repayment,Loan Default

This exploratory study examines the factors that college students perceive are important in helping them make good financial decisions about paying for a college education. The study categorizes and summarizes students' self-reported responses to an open-ended survey question about recommendations for changes in financial aid counseling practices. The 335 student responses had a recurring theme of better information provided through individual counseling sessions. (Contains 1 figure and 1 table.)
Student Borrowing in America: Metrics, Demographics, Default Aversion Strategies
Author: Kesterman, Frank
Date: 2006-00-00
Type: Journal Articles
Subjects: Higher Education,College Students,Student Financial Aid,Student Loan Programs,Debt (Financial),Loan Repayment,Loan Default,Cohort Analysis,Rating Scales,Expertise,Statistical Analysis,Eligibility,Outreach Programs

The use of Cohort Default Rate (CDR) as the primary measure of student loan defaults among undergraduates was investigated. The study used data extracted from the National Student Loan Data System (NSLDS), quantitative analysis of Likert-scale survey responses from 153 student financial aid professionals on proposed changes to present metrics and methods, and anonymous, qualitative interviews with 12 notable scholars and experts about default aversion strategies. A sample of defaults over eight years revealed a default rate of 17.91%, or almost double the published two-year CDR of 9.6% for the 1996 cohort. Further, the actual average default rate for the entire student loan portfolio was found to be 13.65%, or 2.44 times higher than a point-in-time CDR of 5.6% as of September 30, 2002, suggesting limitations of the CDR as the sole loan portfolio measurement tool. Additionally, there is dissatisfaction with the present 25% default rate ceiling required for schools to maintain institutional eligibility to participate in the Title IV federal student aid programs. Entire school groups exceeded the 25% default ceiling when viewed over eight years. The study also found strong support for greater utilization of loan guaranty agencies in default aversion instead of debt collection. The study concludes that economic and demographic changes taking place in higher education over the period 2001-2015 necessitate increased funding for outreach programs to educate low-income and minority at-risk populations on the availability of federal student aid, student loan repayment options, and the consequences of default. Other recommendations of the scholars and experts interviewed for this study include re-engineering default management and school performance measures, forming a national task force focused on finding affordable higher education approaches for the at-risk groups, and initiating a study of expanded debt forgiveness for critical occupations such as teaching, health care, and civil protection. (Contains 3 tables and 2 figures.)
Undergraduate Borrowing and Its Effects on Plans to Attend Graduate School Prior to and after the 1992 Higher Education Act Amendments
Author: Kim, Dongbin
Date: 2006-00-00
Type: Journal Articles
Subjects: Student Loan Programs,Federal Aid,Student Financial Aid,Debt (Financial),Undergraduate Study,Context Effect,Graduate Study,Attendance,Enrollment Influences,Educational Policy,Educational Indicators,Family Income,Eligibility,Measurement,Higher Education,Social Attitudes,Academic Aspiration,School Law,Educational Legislation

As student loan indebtedness has more than doubled in the past decade, it has become important to examine the effects of undergraduate debt on graduate school attendance. The significant increase in student borrowing can be attributed primarily to the passage of the Higher Education Amendments of 1992, which increased federal student loan limits and expanded eligibility in student loan programs. To measure the effects of the increased undergraduate borrowing on graduate school attendance, this study compared graduate school plans of students who attended colleges and universities between 1985-1989 (before the Amendments) and 1994-1998 (after the Amendments). The results indicated a slight negative effect of borrowing on students' plans to attend graduate schools prior to the 1992 Amendments. By contrast, the students who attended school after the 1992 Amendments showed significant positive effects of borrowing, particularly for middle-income students. If middle-income students borrowed money, they were more likely to plan to attend graduate school than students from high-income families with loans. (Contains 1 table.)
Financially At-Risk College Students: An Exploratory Investigation of Student Loan Debt and Prioritization of Debt Repayment
Author: Pinto, Mary Beth
Date: 2006-00-00
Type: Journal Articles
Subjects: College Students,Student Loan Programs,Student Financial Aid,Debt (Financial),At Risk Students,Graduation,Needs Assessment,Credit (Finance),Loan Repayment,Loan Default,Use Studies,Educational Finance,Investigations,Money Management,Consumer Education

College students today face heavy student loan debt that is intensified by the amount of credit card debt they carry. This study provides a profile of financially at-risk students based on their credit card usage behavior. When compared to the non-financially at-risk students, those in the financially at-risk group were found to have higher student loan balances, both currently and expected at graduation. In addition, if forced to prioritize debt repayment after graduation, students in the financially at-risk group indicated they would pay their credit card bills before making their student loan payments. (Contains 2 tables.)
Tuition Cuts: The Political Dynamics of Higher Education Finance
Author: Bastedo, Michael N.
Date: 2006-00-00
Type: Journal Articles
Subjects: Higher Education,Educational Finance,Tuition,State Aid,State Government,Politics of Education,Educational Policy,Government School Relationship,Low Income Groups,Access to Education,Community Colleges,State Boards of Education,Leadership Effectiveness,Alignment (Education),Economic Impact,Cost Effectiveness

Increasingly, states are restricting tuition growth through political pressure and statewide governing and coordinating boards. During the 1990s, California, Virginia, and New York all cut or restrained tuition, and recently Michigan, Florida, Illinois, and New Jersey have restricted tuition growth either through legislation or intense gubernatorial pressure. This case study examines the most extensive use of tuition cuts nationally, in the state of Massachusetts from 1995 to 2001. This case reveals the causes and effects of tuition cuts as a policy measure, and also the political dynamics underlying public higher education finance in increasingly politicized environments. (Contains 3 tables.)
Low-Income Urban High School Students' Use of the Internet to Access Financial Aid
Author: Venegas, Kristan M.
Date: 2006-00-00
Type: Journal Articles
Subjects: High School Students,Urban Schools,College Bound Students,College Applicants,College Choice,College Preparation,Access to Computers,Access to Information,Internet,Student Financial Aid,Computer Mediated Communication,Barriers,Low Income,Financial Aid Applicants,Navigation (Information Systems),Knowledge Level,Focus Groups

This article focuses on the Web-based resources available to low-income students as they build their perceptions, make their decisions, and engage in financial aid activities. Data are gathered from the results of six focus groups with low-income high school students attending urban high schools. Findings suggest that low-income students do have access to computers but lack the knowledge and support needed to navigate the financial aid resources available on-line. (Contains 1 table.)
Access to College: The Role of Tuition, Financial Aid, Scholastic Preparation and College Supply in Public College Enrollments
Author: Baird, Katherine
Date: 2006-00-00
Type: Journal Articles
Subjects: Higher Education,Public Colleges,Family Characteristics,Student Financial Aid,Tuition,Access to Education,College Bound Students,College Preparation,Supply and Demand,Paying for College,Family Income,Racial Differences,Enrollment Trends,High School Graduates,White Students,African American Students,Hispanic American Students,Socioeconomic Status,Labor Market,Federal Aid,State Aid

Rapid tuition increases over the last few decades have made public institutions much less affordable than they once were. This and other policy changes may be affecting college enrollment rates across the country. This article examines how student preparation and college supply interact with the usual factors of tuition, financial aid, and family background to explain state by state variation in public college enrollment rates among Black, Hispanic, and White youth over the 1990s. This study finds that rapid tuition increases over the 1990s, changes in federal need-based aid, and steady increases in merit-based financial aid cannot explain variation in public college enrollment rates during the 1990s. What can help explain this variation are a state's expenditures on state need-based aid and its investment in public higher education capacity. The study also finds that differences in the high school completion rate of Hispanic youth, among states and over time, help explain patterns of Hispanic enrollment in public postsecondary institutions. The article concludes that the current policy emphasis of maintaining low tuition may not be the best use of public subsidies in terms of promoting equitable access to higher education. (Contains 3 figures and 4 tables.)
Targeted Merit Aid: Implications of the Tennessee Education Lottery Scholarship Program
Author: Ness, Erik C.
Date: 2007-00-00
Type: Journal Articles
Subjects: Eligibility,Merit Scholarships,Program Descriptions,Comparative Analysis,Criticism,Educational Policy,Grade Point Average,College Entrance Examinations,Scores

As the nation's newest broad-based merit aid program, the Tennessee Education Lottery Scholarship program's generous eligibility requirements may target the very students who are disproportionately left out of similar programs in other states. This article compares the scholarship eligibility rates of Tennessee students with three other states: Florida, Louisiana, and West Virginia. This study suggests that Tennessee's model may mitigate recent criticisms of merit aid programs and may compel policymakers to consider more fully the negative consequences of traditional merit aid. (Contains 2 tables.)
The Financial Value of a Higher Education
Author: Kantrowitz, Mark
Date: 2007-00-00
Type: Journal Articles
Subjects: Higher Education,Educational Attainment,Education Work Relationship,Educational Benefits,Quality of Working Life,Low Income,Student Financial Aid,Student Loan Programs,Educational Change,Grants,Public Policy,Human Capital,Federal Government,Income,Demography

Five years have passed since the U.S. Census Bureau published synthetic estimates of work-life earnings by educational attainment. This paper updates those figures with the most recent data from the U.S. Census Bureau's annual Current Population Surveys, and adds net present value analysis of the financial benefit of a college degree to the individual and to the federal government. The added value of a bachelor's degree over a high school diploma or GED has increased to $1.2 million in 2005 from $910,000 in 1997-1999. Compared with the average out-of-pocket costs of a college education, this represents a return on investment in excess of 27%. The added value also corresponds to an additional $133,000 in cumulative federal income tax revenue. Accordingly, it would be financially worthwhile for the federal government to replace loans with grants in the financial aid packages of low income students if this yielded at least a 32% increase in the number of low income students graduating with bachelor's degrees. (Contains 4 tables and 3 figures.)
Institutional Aid and Student Persistence: An Analysis of the Effects of Institutional Financial Aid at Public Four-Year Institutions
Author: Gross, Jacob P. K.
Date: 2007-00-00
Type: Journal Articles
Subjects: Universities,Student College Relationship,Student Financial Aid,Academic Persistence,College Students,Dropout Research,Regression (Statistics),Gender Differences

This study examines the effects of institutional financial aid on year-to-year persistence for a cohort of first-time, first-year students at three large, doctorate-granting public universities. Though billions of dollars are spent each year on institutional aid, much of the research to date on student persistence does not consider its effects on student departure. Using data from a statewide student unit record database, the effects of institutional aid on persistence were modeled using logistic regression. Findings suggest that institutional financial aid has a positive but modest effect on persisting. Interestingly, the effects of aid were greater for men than for women, all else being equal. (Contains 3 tables and 1 figure.)