Academic library expenditures and graduation rates: evidence from four-year colleges and universities in the US.

In the midst of financial challenges, colleges and universities in the United States have significantly cut funding for their academic libraries in the name of enhancing efficiency. Using longitudinal data from the Integrated Postsecondary Education Data System (IPEDS) on 1,325 four-year colleges and universities, this study finds that total academic library expenditure is positively associated with student graduation rates, net of a wide range of institutional and student-related characteristics. Such findings are evident for total graduation rates as well as graduation rates for students of different racial/ethnic backgrounds. In particular, the positive association between academic library expenditures and graduation rate is most consistently evident for Black students who attend predominantly White institutions (PWIs). The findings reinforce the important role that academic libraries can play for students and shed light on the need for institutions to consider the educational consequences of reducing funding for academic libraries. [ABSTRACT FROM AUTHOR]