Government grants deliver highest returns for college financing, says study

Merit-based grants are a government's best bet for providing effective student aid for long-term economic growth—increasing both welfare (measured in terms of long-term well-being outcomes) and efficiency, according to a new joint study from the University of British Columbia, Queen's, Princeton and Yale. The study focuses on current education policy in the United States, and finds that the current system of grants and loans has significant long-term value.