Who would benefit most from free college?

Free college is unlikely to see the light of day in today’s divided political environment, but is frequently in the news as a point of contention between the two leading contenders for the Democratic nomination for president. Bernie Sanders supports eliminating tuition and fees at public colleges, whereas Hillary Clinton favors increases in student aid targeted at low- and middle-income students. This report provides new evidence on which groups of students are likely to benefit the most from a policy that eliminates tuition and fees at public colleges and universities. Using nationally representative data on in-state students at public institutions, I find that students from higher income families would receive a disproportionate share of the benefits of free college, largely because they tend to attend more expensive institutions.