We consider the effects of student ability, college quality, and the interaction between the two on academic outcomes and earnings, using data on two cohorts of college enrollees. Student ability and college quality strongly improve degree completion and earnings for all students. We find evidence of meaningful complementarity between student ability and college quality in degree completion at four years and in long-term earnings, but not in degree completion at six years or STEM degree completion. This complementarity implies some trade-off between equity and efficiency for policies that move lower-ability students to higher-quality colleges.

中文翻译：

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学生与学院学术匹配的后果

我们使用两组大学入学者的数据，考虑学生能力、大学质量以及两者之间的相互作用对学业成绩和收入的影响。学生的能力和大学质量极大地提高了所有学生的学位完成率和收入。我们发现，在四年完成学位和长期收入方面，学生能力和大学质量之间存在有意义的互补性的证据，但在六年完成学位或 STEM 学位完成方面没有。这种互补性意味着将低能力学生转移到高质量大学的政策在公平和效率之间进行某种权衡。