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In: Economics

. In 1973, the Basic Education Opportunity Grant (later renamed the Pell Grant) was established to...

. In 1973, the Basic Education Opportunity Grant (later renamed the Pell Grant) was established to provide grant aid to low-income students—not just recent high school graduates (“traditional students”) but also older students who might be returning to school (“nontraditional students”). The program was intended to increase college enrollment among the students most likely to face difficulties financing a college education. a. How is the effect of the Pell grant on college enrollment different for a student who is in his mid-20s than for a recent high school graduate?

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Expert Solution

If the Basic Education Opportunity Grant aimed to provide aid to the lower student and the older students, then it would be aimed at the higher school students Due to this, the program, the aim was to increase the college enrollment and how the students would likely to face the financing a college student, would be dependent on the quota and the government aid. For example, if the price of the education is of the Y2 then due to the government aid and quota it would lead to the lower price and selling out the seats at the same quantity. The extra incentives to aid the older students and the lower class would be granted through the government funds. The product which is the college would not suffer from the regulated prices as the government is aiming to support the lower class with the grants and aid.
They would be depending on the promoted depending on the higher education, that can aim to be depending on social equity. Relating to the model, depending on the universities, that would be based on equity and excellence.
The Pell grant on college enrollment that can be different as more older age students would be willing to enroll and there would be lower-income students competing at the same level. Socially optimality, it would increase the overall quality of education, standards, and aim for equality in the long term.

Rahul Sunny answered 7 months ago
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