Do Financial Incentives Increase the Impact of National-Scale Educational Programs? Experimental Evidence from a National College Advising Initiative

Recent work highlights the challenge of scaling evidence-based educational programs. We report on a randomized controlled trial of a financial incentive program designed to increase the efficacy of a national remote college advising initiative for high-achieving students. We find substantial positive effects of the program on student engagement with college advisors; applications to well-matched colleges and universities; and review of financial aid awards. Yet treated students were no more likely to enroll at higher-quality institutions. Student survey responses suggest that institutional admissions and affordability barriers, alongside student preferences to attend institutions closer to home, explain the lack of enrollment effects.