Grantee Research

More Money, More Opportunities: The Impact of a No-Loan Program on the Post-Baccalaureate Enrollment Decisions of Low-Income and First-Generation Students

Document Type

Journal Article

Publication Date



no-loan programs, financial aid, graduate school enrollment, first-generation college students, socioeconomic status, student loans


To counter the rising costs of higher education, institutions have increasingly turned to no-loan programs to provide financial assistance to their low-income and first-generation students. However, little is known of the influence of these no-loan programs on post-enrollment outcomes. This study examines the impact of no-loan program participation on post-baccalaureate enrollment decisions using a regression discontinuity approach. Results from this study indicate a positive and statistically significant effect of no-loan program participation on graduate school enrollment for historically underrepresented and disadvantaged students.