While a substantial number of studies have evaluated the effects of merit aid programs, there is a surprising lack of any systematic consideration of how states determine eligibility criteria for these scholarships. The selectivity of merit aid eligibility criteria can be as important as whether or not such programs are adopted. If, for example, merit aid programs have broad, easily-attained initial eligibility criteria, then a large proportion of high school graduates, including low-income and under-represented students, will gain eligibility. On the other hand, if the criteria are more...