Institute for Higher Education Policy (IHEP)
The Gates Millennium Scholars (GMS) program, established in 1999 by the Bill & Melinda Gates Foundation, has provided major advantages to its more than 10,000 scholarship winners in educational experiences and career outcomes, according to this report.
Those benefits include quicker completion of college studies, a higher likelihood of entering graduate school, less of an inclination to take out huge loans and, consequently, fewer worries about paying off loans. Scholars also had a wider array of choices in terms of institutions and majors, worked less and had more time for academics and social lives throughout their college careers.
Those who entered the workforce went into fields closely matching their interests and majors. The report suggests that because Gates scholars had smaller debts, they were inclined to pursue a field of interest rather than one that pays well to pay off loans.
Free, 36 pages. http://www.ihep.org/publications/publications-detail.cfm?id=134.