TY - JOUR
T1 - How Has the Post-9/11 GI Bill Affected Veteran Students’ College Loans? A Longitudinal Analysis of NPSAS Using Propensity Score Weighting
AU - Zhang, Liang
N1 - Funding Information:
reports the effects (i.e., the coefficient of the interaction term in on grants and loans. Over 70% of financial aid received by independent students came from federal grants and loans; I conduct analyses on total and major federal grant and loan programs including Pell Grants and Stafford Loans (both subsidized and unsubsidized). To gauge the magnitude of these estimates, I report the average amount of grants and loans in the pre-policy period (i.e., NPSAS 2004 and 2008) in the first row of each panel. The first two columns in report the effects for total grants and Pell Grant. Results reveal no change in total grant and an increase of $171 in Pell Grant. The positive change in Pell Grant has mainly occurred at public colleges.
Publisher Copyright:
© 2023 The Ohio State University.
PY - 2023
Y1 - 2023
N2 - Using data from four waves of the National Postsecondary Student Aid Study (NPSAS) in 2004, 2008, 2012, and 2016, this study examines the effect of the PGIB on veterans’ student loans. Results indicate that the PGIB has significantly affected veteran students’ borrowing behavior, with an average $1,100 reduction in Stafford Loans. Veteran students attending for-profit institutions experience a larger loan decrease than their peers at public and private nonprofit institutions. In addition, loan reductions have occurred mainly at the extensive margin. The decrease in student loans is relatively small compared to the increase in veterans’ education benefits under the PGIB, partly due to a rise in the cost of attendance after the implementation of the PGIB, driven by a higher proportion of veteran students attending for-profit institutions. Finally, loan reductions vary across veteran students.
AB - Using data from four waves of the National Postsecondary Student Aid Study (NPSAS) in 2004, 2008, 2012, and 2016, this study examines the effect of the PGIB on veterans’ student loans. Results indicate that the PGIB has significantly affected veteran students’ borrowing behavior, with an average $1,100 reduction in Stafford Loans. Veteran students attending for-profit institutions experience a larger loan decrease than their peers at public and private nonprofit institutions. In addition, loan reductions have occurred mainly at the extensive margin. The decrease in student loans is relatively small compared to the increase in veterans’ education benefits under the PGIB, partly due to a rise in the cost of attendance after the implementation of the PGIB, driven by a higher proportion of veteran students attending for-profit institutions. Finally, loan reductions vary across veteran students.
KW - Pell Grant
KW - Post-9/11 GI Bill
KW - Stafford Loan
KW - student loan
KW - veterans’ education benefits
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U2 - 10.1080/00221546.2023.2171215
DO - 10.1080/00221546.2023.2171215
M3 - Article
AN - SCOPUS:85148531455
SN - 0022-1546
JO - Journal of Higher Education
JF - Journal of Higher Education
ER -