Student Financial Aid and Philanthropy: Historic Ties, Current Context, and Future Research

Abstract: The importance of philanthropic dollars in US college and universities' student financial aid programs is rarely discussed. This research note reviews the evolution of philanthropic support for students and formal financial aid programs overtime, synthesizes empirical studies of the topic, and identifies future research opportunities. It is intended as a resource for scholars and students of higher education, a catalyst for future research, and a tool for institutional leaders as they develop strategic priorities for financial aid fundraising.