Increasing College Completion with a Federal Higher Education Matching Grant

Abstract

Despite continual increases in college attendance, college degree attainment has stagnated. Current financial aid is not well targeted and provides little support for increasing postsecondary quality and completion rates. This article proposes a federal matching grant for institutions that implement free college plans. The grant would be restricted to spending on instruction and academic support services, and would set limits on administrative costs for participating colleges. The proposal would also establish a pilot program of additional spending on programs shown to increase degree completion among low-income students.