Financial aid decreases the cost of acquiring additional education. By using Italian administrative and survey data on financial aid recipients and exploiting sharp discontinuities in the amount of aid received, this paper identifies the causal effect of aid generosity on college performance and labor market outcomes. The results show that students facing a higher cost of college earn more credits each year than those receiving higher financial aid. This gap generates a significant difference in the overall graduation time. No differences emerge in the GPA level or the probability of graduating from college.

中文翻译：

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经济援助对毕业和劳动力市场结果的影响：来自匹配的教育-劳动力数据的新证据

经济援助降低了获得额外教育的成本。通过使用意大利有关经济援助接受者的行政和调查数据，并利用所收到援助金额的急剧不连续性，本文确定了援助慷慨程度对大学表现和劳动力市场结果的因果影响。结果显示，面临较高大学费用的学生每年比接受较高经济援助的学生获得更多学分。这种差距在总体毕业时间上产生了显着差异。GPA 水平或大学毕业的概率没有差异。