The impact of the Gates Millennium Scholars Program on college and post-college related choices of high ability, low-income minority students

• The effect of Gates Millennium Scholarship receipt on many outcomes is studied with a regression discontinuity design.
• Gates Millennium Scholarship (GMS) receipt decreases weekly hours of work and the dollar amount of student loan debt.
• GMS receipt decreases the amount of money parents contribute to their child's college education.
• Receipt of a GMS increases the probability of aspiring to obtain a Ph.D.
• There is some evidence that GMS receipt increases a student's college grade point average.

In this paper we analyze the impact of the Gates Millennium Scholarship Program on several outcome variables using a regression discontinuity design. We find that GMS recipients have lower college loan debt and parental contributions toward college expenses and work fewer hours during college than non-recipients. We also find that GMS recipients have higher grade point averages in their junior year of college and are more likely to aspire to a Ph.D. degree than non-recipients.