A Study On The Effect Of College Freshmen's Financial Aid Policy

Since 2007,the new financial aid system has become an important economic support for impoverished students' college entrance and accomplishment.However,under the circumstance that governments and colleges take "precise aid" as a policy concept,the effects of the freshmen's financial aid policy need to be assessed scientifically.Based on the policy evaluation method and the first round of survey data of "the development of Hunan's college students" in November-December 2016,this paper found that the poverty of university students is still relatively common,and the economic burden of poor households is heavy,while the necessary expenditures account for about 60%of the family's annual income,especially for students in rural areas,which is more than 66%.The application and acquisition of financial aid for freshmen is remarkably influenced by individual socioeconomic characteristics and is rarely influenced by the level and type of college.The freshmen in disadvantaged groups have gained more need-based grants and student loans,which means the group targeting of this policy has been significantly improved,but the policy awareness of public financial aid'qualifications,objects for freshmen needs to enlarge.Although the coverage of financial aid is relatively high,its leakage rate and error rate among university freshmen is very high.The wrong targeting of the aid which "financed students who are not poor" is more serious and it fails to provide sufficient financial guarantees for impoverished students,which means the actual poverty reduction effect of the existing university freshman's poverty subsidies still has a lot of room for improvement and the focus of future policy reforms is still focused on improving poverty reduction through improving targeting and establishing needs-based aid allocation.In addition,we use the propensity score matching method to find that obtaining the financial aid could significantly improve the learning adaptability of the college first year students.Students who obtaining the financial aid and students who obtaining the both two types of financial aid have a contribution rate of 1.7%and 3.5%respectively to the learning adaptability.