AIR, in collaboration with Development Services Group, Inc., sought to identify the effects of financial grant aid on students' postsecondary success by conducting a comprehensive systematic review and meta-analysis of 87 studies and over 700 effect sizes. The results indicated that aid has the largest impact on college enrollment, resulting in a 2 percent increase in initial enrollment. Further, results of 40 studies showed that aid results in a 0.5 percent increase in college completion, which when translated to the US population of college-going students, would have resulted in 30,000 more students graduating in 2019.

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