From high school to higher education: Is recreational marijuana a consumption amenity for US college students?

This paper examines how recreational marijuana legalization (RML) affects first-time college enrollment in the US using a unique college-level dataset and various estimation methods such as difference-in-differences and event study. I find that RML increases enrollments by approximately up to 9%, without compromising degree completion or graduation rate, and it boosts college competitiveness by offering a positive amenity, as evidenced by the rise in out-of-state enrollments relative to neighboring states. In addition, I find no evidence that RML affects college prices, quality, or in-state enrollment. This effect is stronger for non-selective public colleges in early-adopting RML states.