shocks to (students') education costs. Further analysis demonstrates that the tuition hike and student debt increase, despite …

can be driven either by marginal students induced to enroll by financial aid, or by inframarginal students who would have … students rather than the combined effect on marginal and inframarginal students by examining a change in financial aid that did … to financially independent students. I find that financial aid received by needier students is more likely to positively …