Full Cost-of-Attendance Scholarships and College Choice: Evidence From NCAA Football

In 2015, the National Collegiate Athletic Association Division I schools were permitted to cover the full cost of attendance as a part of athletic scholarships for the first time, which allowed schools to provide modest living stipends to its athletes. Differences in cost-of-attendance allotments across schools have the potential to affect the allocation of talent, with higher stipends attracting better student-athletes. Using recently published cost-of-attendance data, we estimate the impact of cost-of-attendance allowances on college football recruiting. Estimates reveal that cost-of-attendance scholarship allowances were positively associated with football recruiting quality immediately following their implementation, indicating that the modest differences in stipends swayed student-athletes' college choice.