For this, they needed a study? Really?
SmartMoney: Why College Aid Makes College Cost More
It’s pretty basic: The more money you make available for a limited good or service, the more that good or service will cost.
This is what happened when “Fog a mirror, get a home loan” policies were all the rage in the early 2000s. It’s also why “Fog a mirror, get a student loan” policies are NOT the elixir for ever-increasing college tuition that everyone makes them out to be. Rather, they make the problem worse.