The association between financial aid availability and the college dropout rates in Colombia |
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| Authors: | Tatiana Melguizo Fabio Sanchez Torres Haider Jaime |
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| Institution: | (1) Rossier School of Education, University of Southern California, 702G WPH, 3470 Trousdale Parkway, Los Angeles, CA 90089, USA;(2) Universidad de Los Andes, Bogota, Colombia |
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| Abstract: | The main objective of this study is to estimate the association between financial aid and college dropout rates of postsecondary
students in Colombia. We use a unique dataset from the Colombian Ministry of Education that includes all enrolled college
students in the country between 1998 and 2008. Logistic regression is used to identify the correlation between receiving different
forms of financial aid on the dropout rates of the students. The main results of the study suggest that the probability of
dropping out decrease between 25 and 29% according to the type of financial aid received. There is also evidence that the
financial aid is more effective in reducing dropout rates at the beginning of the student’s college careers. This result holds
after controlling by type of postsecondary institution attended. These findings suggest that financial aid is an effective
tool to reduce dropout rates, and therefore increase persistence and expand access in Colombia. |
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