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It Isn’t Just Money: The Effects of Financial Aid on Student Persistence
- The Review of Higher Education
- Johns Hopkins University Press
- Volume 11, Number 1, Autumn 1987
- pp. 75-101
- 10.1353/rhe.1987.0009
- Article
- Additional Information
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This meta-analysis integrates thirty-one studies by converting each study result into the common metric of effect size. The meta-analysis examining the total sample found financial aid to have a small, but significant, positive effect on student persistence, thereby enabling lower-income students to persist at a rate roughly equal to that of middle- and upper-income students. The length of persistence measured, the type of institution attended, and whether studies controlled for academic ability are mediators influencing the magnitude and direction of the effect size.