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This article reveals that grants work better than loans as a way of getting students from low-income families to enroll in college and complete a degree, according to a paper that summarizes research findings about student-aid policies in developed countries. The report, released in August by the Educational Policy Institute, looked at studies in North America, Europe, and Australia and New Zealand. Traditional grant packages like tax credits, tuition subsidies, and loan remissions can result in substantial wastage and windfalls to wealthier students, the report says.