I examine the effect of student aid on the distribution of educational attainment in the context of a post-secondary funding program for Indigenous students in Canada. I show that student aid programs targeted at marginalized groups can increase average educational attainment; however, these benefits are driven by an increase in college training, not in the number of university degrees. For students living in remote com- munities that face above average costs to graduating high school, the elimination of post-secondary funding programs can have adverse effects on high school graduation rates, highlighting the importance of considering the effect of student aid on the entire distribution of educational attainment.