{"id":35,"date":"2007-11-09T15:04:00","date_gmt":"2007-11-09T21:04:00","guid":{"rendered":"http:\/\/aspiringeconomist.com\/index.php\/2007\/11\/09\/merit-aid\/"},"modified":"2007-11-09T15:04:00","modified_gmt":"2007-11-09T21:04:00","slug":"merit-aid","status":"publish","type":"post","link":"http:\/\/aspiringeconomist.com\/index.php\/2007\/11\/09\/merit-aid\/","title":{"rendered":"Merit Aid"},"content":{"rendered":"<p>Recently, I had the opportunity to attend a seminar by Joshua Goodman on <a href=\"   In sum, the Adams Scholarship will spend $30 million annually to leave college atten- dance rates unchanged while paying 85% of recipients to attend the college they would have chosen anyway and the remaining 15% to attend colleges in the public sector rather http:\/\/www.columbia.edu\/cu\/economics\/discpapr\/DP0607-13.pdf\">&#8220;Who Merits Financial Aid?\u00a0 Massachusetts&#8217; Adams Scholarship&#8221;<\/a>.\u00a0 It was a refreshing surprise given\u00a0 the dull seminars I had attended earlier in the year.\u00a0 Goodman, a job market candidate at Columbia, analyzed the effects of a scholarship program in Massachusetts that awards students who meet certain benchmarks on a standardized test the equivalent of 1600 dollars in aid if they attend college in-state.\u00a0 Goodman concludes:<\/p>\n<p><em>&#8220;In sum, the Adams Scholarship will spend $30 million annually to leave college atten-<br \/>\ndance rates unchanged while paying 85% of recipients to attend the college they would<br \/>\nhave chosen anyway and the remaining 15% to attend colleges in the public sector rather than the private sector. This is not a sensible use of the state budget.&#8221;<\/em><\/p>\n<p>Personally, the existence of in-state scholarships was a major reason I decided to attend an in-state university as an undergraduate.\u00a0 I agree with Goodman that it is irrational to spend lots of money to encourage a few students to attend school in-state.\u00a0 However, I disagree that we should focus on more need-based assistance.\u00a0 Merit based scholarships provide an incentive for high school students to work hard.\u00a0 I knew too many students in high school who gamed the financial aid system.\u00a0 Furthermore, I think that need-based aid creates perverse incentives for families when it comes to saving for education.\u00a0 More on this later.<\/p>\n<p>This weekend I&#8217;ll be out of state at another Ultimate Frisbee tournament.\u00a0 I&#8217;ll be back posting on Sunday or Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, I had the opportunity to attend a seminar by Joshua Goodman on &#8220;Who Merits Financial Aid?\u00a0 Massachusetts&#8217; Adams Scholarship&#8221;.\u00a0 It was a refreshing surprise given\u00a0 the dull seminars I had attended earlier in the year.\u00a0 Goodman, a job market candidate at Columbia, analyzed the effects of a scholarship program in Massachusetts that awards students [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,10],"tags":[],"class_list":["post-35","post","type-post","status-publish","format-standard","hentry","category-economics","category-education"],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/aspiringeconomist.com\/index.php\/wp-json\/wp\/v2\/posts\/35","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/aspiringeconomist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/aspiringeconomist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/aspiringeconomist.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/aspiringeconomist.com\/index.php\/wp-json\/wp\/v2\/comments?post=35"}],"version-history":[{"count":0,"href":"http:\/\/aspiringeconomist.com\/index.php\/wp-json\/wp\/v2\/posts\/35\/revisions"}],"wp:attachment":[{"href":"http:\/\/aspiringeconomist.com\/index.php\/wp-json\/wp\/v2\/media?parent=35"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/aspiringeconomist.com\/index.php\/wp-json\/wp\/v2\/categories?post=35"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/aspiringeconomist.com\/index.php\/wp-json\/wp\/v2\/tags?post=35"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}