We consider four distinct policy levers available to states for raising bachelor’s degree completion rates in
the U.S. through their public colleges and universities. We simulate these policies using elasticities from
the existing literature and a matched College Board-National Student Clearinghouse dataset on enrollment
and degree completion. Increasing spending at public college and targeted elimination of tuition and fees
at four-year public colleges with an income cutoff are projected to be the most effective of these policies in
terms of cost per additional BA degree. Reducing tuition and fees at public colleges and a distinct policy
of moving students to the best available in-state public college (BISPO) are next best on a cost-benefit basis.
Free community college policies are significantly less cost effective.
https://www.brookings.edu/wp-content/uploads/2019/09/Avery-et-al_conference-draft.pdf
