A growing volume of research shows college promise programs increase the likelihood that students enroll in and complete college. Place-based promise programs provide a guaranteed college scholarship for students who attend a specified school district. We examine the societal benefits and costs of a place-based scholarship program in rural Arkansas, the El Dorado Promise. Our cost framework treats tuition payments as a cash transfer that shifts the cost burden of higher education rather than causing new societal costs. Findings show the program provides societal benefits equal to $4.60 for each dollar invested. A break-even analysis shows the program produces benefits to society that exceed costs within an 81% confidence interval of effects, providing relatively high likelihood of positive returns.

Addressing the educational needs of students in math early on is critical given that early gaps in math skills widen further over the course of schooling. This study examines the effectiveness and costs of Kentucky's Math Achievement Fund—a unique state-level program that combines targeted interventions, peer-coaching, and close collaboration among teachers to improve math achievement in grades K–3. The program is found to improve not only math achievement, but also reading test scores and non-test outcomes including student attendance and disciplinary incidents. The benefits exist across students from various socioeconomic backgrounds, and they are slightly higher for racial minorities.