Achieve Atlanta helps Atlanta Public Schools students access, afford, and earn postsecondary credentials. It does so by providing students from low-income backgrounds with college advising and coaching supports, and a need-based scholarship of $5,000 per year for those pursuing a bachelor’s degree and $1,500 per year for those pursuing an associate or technical degree. We use a mixed-method approach to study how the Achieve Atlanta Scholarship and associated services impact students’ loan-taking in college and academic performance and progression. We find that Achieve Atlanta Scholars take out fewer loans than non-Scholars and by doing so, they are less stressed about other college-related and living expenses, which all translates into academic success.

More specifically, Achieve Atlanta Scholars are five percentage points, or 11%, less likely to take out student loans than non-Scholars, primarily due to Scholars taking out fewer loans with less-favorable terms. Scholars take out an average of $580, or 40%, less in students loans in their first semester compared to non-Scholars. This reduction in loan-taking and the amount loaned enhances Scholars’ overall financial well-being. Furthermore, Achieve Atlanta Scholars attempt and earn more credit hours and have higher GPAs in college than non-Scholars. For example, Scholars earn 0.75 more credit hours than non-Scholars in their first semester.

These analyses also suggest that Scholars may benefit from the Achieve Atlanta Scholarship and services after college. Earning a degree and having lower loan balances make it more likely that students will pay off their loans, if they have loans at all. Having no loans or lower loan balances allows students to invest elsewhere—whether it be in additional education, housing, or savings.