DOCUMENT RESUME ED 419 479 HE 031 273 AUTHOR Braunstein, Andrew; Lesser, Mary; McGrath, Michael; Pescatrice, Donn TITLE Measuring the Impact of Income and Financial Aid Offers on College Enrollment Decisions. PUB DATE 1998-04-00 NOTE 23p.; Paper presented at the Annual Meeting of the American Educational Research Association (San Diego, CA, April 13-17, 1998). PUB TYPE Reports - Research (143) Speeche/Meeting Papers (150) EDRS PRICE MF01/PC01 Plus Postage. DESCRIPTORS College Attendance; *College Students; *Enrollment Influences; Enrollment Management; Enrollment Trends; Financial Aid Applicants; Grants; Higher Education; School Statistics; Statistical Analysis; *Student Financial Aid; Student Loan Programs; Tables (Data); Trend Analysis; Work Study Programs IDENTIFIERS *Iona College NY ABSTRACT A study at Iona College (New York) analyzed the impact of demographic, socioeconomic, and financial factors on the enrollment behavior of accepted college applicants. The data base consisted of observations on accepted applicants to the college for the 1991-92, 1993-94, and 1995-96 academic years and included 2,198, 2,553, and 2,353 students (respectively). Regression analysis of the data yielded the following results: (1) Upper income applicants were least likely to enroll; (2) based on SAT scores, Iona attracted better students in 1995-96 than in 1991-92; (3) for every $1,000 increase in the amount of financial aid offered, the probability of enrollment increased between 1.1 and 2.5 percent; (4) while each $1,000 increase in student loans raised the probability of enrollment to more than 5.0 percent, a similar increase in grant money enhanced enrollment prospects by only 3.0 percent; (5) financial aid solely in the form of work-study did not appear to entice prospective students, but, particularly in the latest period, work-study support did contribute to an attractive financial aid package when mixed with grants and loans; and (6) combinations of financial aid types must contain some grant money to be attractive to accepted applicants. Data tables for each cohort are included. (Contains 20 references.) (MAB) ******************************************************************************** Reproductions supplied by EDRS are the best that can be made from the original document. ********************************************************************************
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DOCUMENT RESUME Braunstein, Andrew; Lesser, Mary; McGrath, Michael; · 2014. 5. 19. · Andrew Braunstein, Mary Lesser, Michael McGrath, and Donn Pescatrice. Iona College New Rochelle,
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TITLE Measuring the Impact of Income and Financial Aid Offers onCollege Enrollment Decisions.
PUB DATE 1998-04-00NOTE 23p.; Paper presented at the Annual Meeting of the American
Educational Research Association (San Diego, CA, April13-17, 1998).
PUB TYPE Reports - Research (143) Speeche/Meeting Papers (150)EDRS PRICE MF01/PC01 Plus Postage.DESCRIPTORS College Attendance; *College Students; *Enrollment
ABSTRACTA study at Iona College (New York) analyzed the impact of
demographic, socioeconomic, and financial factors on the enrollment behaviorof accepted college applicants. The data base consisted of observations onaccepted applicants to the college for the 1991-92, 1993-94, and 1995-96academic years and included 2,198, 2,553, and 2,353 students (respectively).Regression analysis of the data yielded the following results: (1) Upperincome applicants were least likely to enroll; (2) based on SAT scores, Ionaattracted better students in 1995-96 than in 1991-92; (3) for every $1,000increase in the amount of financial aid offered, the probability ofenrollment increased between 1.1 and 2.5 percent; (4) while each $1,000increase in student loans raised the probability of enrollment to more than5.0 percent, a similar increase in grant money enhanced enrollment prospectsby only 3.0 percent; (5) financial aid solely in the form of work-study didnot appear to entice prospective students, but, particularly in the latestperiod, work-study support did contribute to an attractive financial aidpackage when mixed with grants and loans; and (6) combinations of financialaid types must contain some grant money to be attractive to acceptedapplicants. Data tables for each cohort are included. (Contains 20references.) (MAB)
A All constant terms are negative and highly significant, and there is no meaningful delta-pstatistic associated with this term .
Significance Level = .05
* * Significance Level = .01
20
Enrollment Decisions 20
ReferencesBook. Astin, A. (1975). Preventing students from dropping out. San Francisco:
Jossey-Bass.
Journal. Cabrera A.F., Nora, A. , & Castaneda, M.B. (1992). The role of finances in
the persistence process: A structural model. Research in Higher Education, 33(5), 571-
593.
Journal. Carlson, D.E. (1975). A flow of funds model for assessing the impact of
alternative student aid programs. Menlo Park, CA: Stanford Research Institute.
Book. Leslie, L.I., & Brinkman, P.T. (1988). The economic value of higher education.
San Francisco: Jossey-Bass.
Journal. McGrath, M., & Braunstein, A. (1997). The prediction of freshmen attrition:
An examination of the importance of certain demographic, academic, financial, and social
factors. College Student Journal, 31(3), 396-408.
Book. McPherson, M.S., & Schapiro, M.O. (1989). Measuring the effects of federal
student aid: An assessment of some methodological and empirical problems." Washington,
D.C.: Pelavia Associates.
Journal. Orfield, G. (1992). Money, equity, and college access. Harvard Educational
Review, 62, 337-372.
Journal. Somers, P.A. (1993). Are mondo scholarships effective? Journal of Student
Financial Aid, 23(2), 37-38.
Journal. St. John, E.P. (1989a). The influence of student aid on persistence. Journal of
Student Financial Aid, 19(3), 52-68.
21.
Enrollment Decisions 21
Journal. St. John, E.P. (1989b). The impact of student aid on access to higher
education: An analysis of progress with special consideration of minority enrollment.
Research in Higher Education, 30, 563-581.
Journal. St. John, E.P. (1990a). Price response in enrollment decisions: An analysis
of the high school and beyond sophomore cohort. Research in Higher Education, 31(2),
161-176.
Journal. St. John, E.P. (1990b). Price response in persistence decisions: An analysis of
the high School and beyond sophomore cohort. Research in Higher Education, 31(4),
387-403.
Journal. St. John, E.P. (1992). Workable models for institutional research on the
impact of student financial aid. Journal of Student Financial Aid, 22(3), 13-26.
Journal. St. John E.P. (1993). Untangling the web: Using price-response measures in
enrollment projections. Journal of Higher Education, 64(6), 676-695.
Journal: St. John, E.P. (1994). Assessing tuition and student aid strategies: Using
price-response measures to simulate pricing alternatives. Research in Higher Education,
35(3), 301-334.
Journal. St. John, E.P., Andrieu, S., & Oescher, J. (1992). Price-response in within-
year persistence by traditional college-age students in four-year colleges. Journal of
Student Financial Aid, 22(1), 27-38.
Journal. St. John, E.P., Andrieu, S., Oescher, J., & Starkey, J.B. (1994). The
influence of student aid on within-year persistence by traditional college-age students in
four-year colleges. Research in Higher Education, 35(4), 455-480.
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Journal. St. John, E.P., & Somers, P.A. (1993). Assessing the impact of financial aid
offers on enrollment decisions. Journal of Student Financial Aid, 23(3), 7-12.
Book. Tinto, V. (1987). Leaving college: Rethinking the causes and cures of student
attrition. Chicago: University of Chicago Press.
Book. Tinto, V. (1993). Leaving college: Rethinking the causes and cures of student
attrition (2nd ed.). Chicago: University of Chicago Press.
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