Since Georgia unveiled its HOPE Scholarship in 1993, at least 15 other states have implemented or proposed merit-aid programs based on the HOPE model. A common justification for these actions is to promote and reward academic achievement, thereby inducing greater investments in human capital....

This paper examines the effects of Georgia's merit-based HOPE Scholarship on college enrollment. Introduced in 1993, the HOPE Scholarship covers tuition, fees, and book expenses for students attending Georgia public colleges, and provides a subsidy of comparable value to students attending...

A common justification for HOPE-style merit-aid programs is to promote and reward academic achievement, thereby inducing greater investments in human capital. However, grade-based eligibility and retention rules encourage other behavioral responses. Using the longitudinal records of all...

Since Georgia unveiled its HOPE Scholarship in 1993, at least 15 other states have implemented or proposed merit-aid programs based on the HOPE model. A common justification for these actions is to promote and reward academic achievement, thereby inducing greater investments in human capital....