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1. Estimating the Influence of Financial Aid on Student Retention: A Discrete-Choice Propensity Score-Matching Model

Author

University of Arkansas, Education Working Paper Archive and Herzog, Serge

Abstract

The greatest limitation in establishing causality in observational studies on the effect of financial aid is the presence of endogeneity or selection bias associated with aid status. To control for this statistical confoundedness that besets the research corpus to date, this study estimates the effect of financial aid on freshmen retention at a moderately selective, public university using propensity score-matching in multi-stage regression analyses. The correlational pattern that emerged from twenty-four logit models suggests higher-income students accrue a retention benefit from financial aid, unlike low-income students, net of first-year academic experience and type and amount of aid received. Conversely, retention of low-income freshmen is more likely due to academic performance compared to those from high-income background. Findings on the effect of aid are consistent with the economics of moral hazard and unobservable behavior. (Contains 6 footnotes, 8 tables, and 2 figures.)

Published
2008

2. Diversity and Educational Benefits: Moving Beyond Self-Reported Questionnaire Data

Author

University of Arkansas, Education Working Paper Archive and Herzog, Serge

Abstract

Effects of ethnic/racial diversity among students and faculty on cognitive growth of undergraduate students are estimated via a series of hierarchical linear and multinomial logistic regression models. Using objective measures of compositional, curricular, and interactional diversity based on actuarial course enrollment records of over 6,000 students at a public research university, the study finds no patterns of positive correlation with objective measures of cumulative academic achievement (i.e., final graduating GPA, GRE/GMAT test scores, graduate school enrollment) net of academic preparation at college entry and socio-demographic background, and with or without accounting for academic major, college curricular experience, and financial aid. Results are consistent with student self-assessed level of critical thinking skills after graduation, but not with self-assessed level of understanding of racial and cultural issues, both affective outcomes showing a positive correlation with curricular diversity. As the findings contradict most of the higher education literature on survey-based cognitive benefits of ethnic/racial diversity, the study calls for use of objective measures to advance the research in this area. (Contains 19 tables, 4 graphs and 10 footnotes.)

Published
2007