How Big is the Ballpark? Assessing Variation in Grant Aid Awards within Net Price Calculator Student Profiles

IF 1.7 3区 教育学 Q2 ECONOMICS Education Finance and Policy Pub Date : 2021-06-01 DOI:10.1162/edfp_a_00353
Aaron M. Anthony, Lindsay C. Page
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Abstract

Abstract Net price calculators (NPCs) are online tools designed to increase transparency in college pricing by presenting students with individualized estimates of net prices to attend a given postsecondary institution. The federal template NPC predicts identical aid awards for similarly profiled students attending the same institution. Using the 2012 National Postsecondary Student Aid Survey, we use regression analysis to assess variation in actual financial aid awards among students predicted by the federal template NPC to receive identical awards. We find estimated aid, derived from the federal template NPC, accounts for 70 percent of the variation in actual grant aid received by students. We then consider modifications to the federal template NPC that include an additional upper-income bracket option and indicators of both high school grade point average and Free Application for Federal Student Aid filing time. These modifications explain an additional 16 percentage points, or more than half, of the unexplained variation in actual grant aid awards across all institutional sectors. These findings are especially relevant as legislators consider policy efforts to bring greater transparency to college cost and pricing, including creating a universal NPC in which prospective students can enter information once to receive net price estimates at any institution.
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棒球场有多大?在净价格计算器学生档案中评估助学金的变化
摘要净价计算器(NPC)是一种在线工具,旨在通过向学生提供进入特定高等教育机构的净价的个性化估计,提高大学定价的透明度。联邦模板全国人大预测,在同一所学校就读的情况相似的学生将获得相同的资助。使用2012年全国中学后学生资助调查,我们使用回归分析来评估联邦模板NPC预测的获得相同奖励的学生的实际资助奖励的变化。我们发现,根据联邦模板NPC得出的估计援助占学生实际获得资助的70%。然后,我们考虑对联邦模板NPC进行修改,其中包括额外的高收入等级选项和高中平均绩点和联邦学生资助申请时间的指标。这些修改解释了所有机构部门实际赠款援助金额的额外16个百分点,即超过一半的原因。这些发现尤其相关,因为立法者正在考虑提高大学成本和定价透明度的政策努力,包括创建一个通用的全国人大,在这个人大中,未来的学生可以在任何机构输入一次信息,以获得净价格估计。
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CiteScore
3.00
自引率
4.80%
发文量
46
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