“…This matching procedure, linking the survey data to the administrative records, is based on clusters of students identified by several individual characteristics: year of enrollment, age, gender, degree (bachelor or master), numeric code of their graduating major, numeric code of their graduating campus, and high school final grade. 29 First, the administrative records on the financial aid recipients are restricted to bachelor's degree graduates only since information on high school final grades is not available in the "AlmaLaurea" repository for master degree graduates. 30 Moreover, the administrative records are restricted to financial aid recipients lying close to the third threshold to avoid matching students offered with different incentives and to clusters containing no more than one individual, as in Britto 29 There are two years of enrollment observed, 2009 and 2010, 88 majors, 8 campuses, 41 possible values of the high-school final grade, and age ranges from a minimum of 17 to a maximum of 67.…”