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  • Christopher Avery and Caroline Minter Hoxby, College Choices: The Economics of Where to Go, When to Go, and How to Pay For It (University of Chicago Press, 2004), chap. 6, https://www.nber.org/books-and-chapters/college-choices-economics-where-go-when-go-and-how-pay-it/do-and-should-financial-aid-packages-affect-students-college-choices.

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Every year, thousands of high school seniors with high college aptitude face complicated menus' of scholarship and...

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