"Colleges that assume they can improve undergraduate retention rates by giving low-income students more financial aid may be wrong, according to a working paper by Serge Herzog, director of institutional analysis at the University of Nevada at Reno," The Chronicle of Higher Education reports. "In his paper, Mr. Herzog also concludes that students from higher-income families are more likely to persist in college when given grants or scholarships than are their counterparts from lower-income families when given those forms of aid. 'Most other research concludes that financial aid helps low-income students the most,' said Mr. Herzog in an interview. 'My findings suggest the opposite is true.' In his paper, 'Estimating the Influence of Financial Aid on Student Retention,' Mr. Herzog analyzes data collected on 5,000 students at the University of Nevada, whose standardized test scores and levels of high-school preparation are representative of those at other moderately selective public research universities."