This article explores the determinants of persistence in the Chilean higher education system, considering academic and socio-demographic factors as well as the role of financial aid. The financial aid policy for students in Chile has undergone major changes over the last decade, which has allowed individuals from usually underrepresented income groups to enroll in higher education institutions. This analysis combines information from four public administrative agencies, obtaining a sample of over 75 % of all high school graduates for the period 2007-2010. Methods include descriptive statistics, logistic regression and propensity score matching (PSM). Both continuous persistence and reentry were studied at the system and at the institutional level for all four cohorts. Descriptive results show that short-and long-term dropout rates at the system level are high, and dropout rates are even higher at the level of institutions. Findings from the PSM show that the non-subsidized state loan is the instrument that displays the strongest correlation with persistence and it holds homogeneously across students from different socioeconomic groups. Among grants, we find consistently positive effects of need-based grants targeting low-income students attending technical institutions. We provide educational policy recommendations based on our findings.

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Este estudio tiene como objetivo explorar las diferencias en el rendimiento académico de alumnos de distinto nivel socioeconómico en universidades, utilizando el caso de la Pontificia Universidad Católica de Chile (UC). Los grupos socioeconómicos fueron definidos según dependencia administrativa del colegio de egreso del estudiante y quintil de ingreso familiar. Se utilizaron pruebas ANOVA de un factor y Test de Chi Cuadrado para determinar si las diferencias en notas y persistencia existentes entre los distintos grupos eran estadísticamente significativas. El análisis indica que los resultados académicos no difieren sustantivamente entre alumnos de distinto nivel socioeconómico. Se espera que los resultados de este estudio iluminen la discusión acerca de la inclusión de grupos de menor nivel socioeconómico en las universidades.