PROMPTS, PERSONALIZATION, AND PAY-OFFS: Strategies To Improve The Design And Delivery Of College And Financial Aid Information

Policymakers have invested in a range of strategies over the last several decades to reduce disparities in college entry and completion by family income. Historically, many of these interventions have focused on improving students’ academic readiness and increasing college affordability for low-income students and their families (Adelman, 2006; Deming & Dynarski, 2009). More recently, however, policymakers and researchers have devoted increasing attention to how the accessibility and presentation of college information impacts whether students apply to college or for financial aid and the college choices students make (Bettinger et al., 2012; Hoxby & Turner, 2013; Sacerdote & Carrell, 2012). A number of studies have documented, for instance, that students and families from disadvantaged backgrounds either do not know or tend to substantially overestimate the actual cost of college tuition (Avery & Kane, 2004; Grodsky & Jones, 2007; Horn, Chapman, & Chen, 2003). Other research has documented how complexities in the Free Application for Federal Student Aid (FAFSA) may deter many students who would qualify for substantial grant and loan assistance from even applying for financial aid (Dynarski & Scott-Clayton, 2006: Bettinger et al., 2012). A separate line of research suggests that a surprisingly large share of students who have sufficient high school achievement to attend academically rigorous institutions often only apply to and enroll at essentially open-enrollment colleges and universities (Avery & Hoxby, 2012; Bowen, Chingos, & McPherson, 2009; Roderick, Coca, & Nagaoka, 2011; Smith et al., 2012).