Increased parental school choice has become a popular education reform strategy, but evidence of its effectiveness in improving student achievement is mixed. In this paper, we examine the rationale for school choice, obstacles to fulfilling its theoretical promise, and results observed to date....

The federal system for distributing student financial aid rivals the tax code in its complexity. Both have been a source of frustration and a focus of reform efforts for decades, yet the complexity of the student aid system has received comparatively little attention from economists. We describe...

The federal government and the states have recently enacted a slew of aid policies aimed at college students from middle- and high-income families. I estimate the impact of aid on the college attendance of middle- and upper-income youth by evaluating Georgia's HOPE Scholarship, the inspiration...

Each year, 14 million households seeking federal aid for college complete a detailed questionnaire about their finances, the Free Application for Federal Student Aid (FAFSA). With 116 questions, the FAFSA is almost as long as IRS Form 1040 and substantially longer than Forms 1040EZ and 1040A....

This paper examines the incentives created by the 529 and Coverdell tax–advantaged savings accounts. I find that the advantages of the 529 and Coverdell rise sharply with income for three reasons. First, those with the highest marginal tax rates benefit the most from sheltering income, gaining...

Low-achieving students in many school districts are retained in a grade to allow them to gain the academic or social skills that teachers believe are necessary to succeed academically. In this paper, we use plausibly exogenous variation in retention generated by a test-based promotion policy to...