Based on the questionnaire survey data of 2557 college students from 7 universities in Hunan Province of China, which is strictly randomly sampled, the propensity score matching method is used to empirically test the effect of financial aid on college students’ political trust. Our findings reveal that after controlling for other variables and sample self-selection bias, financial aid can significantly increase the level of college students’political trust. However, this effect is heterogeneous. College students who only received gift aid like grants/bursaries have almost significant higher level of political trust, while No significant results are shown for the sample group who only received self-help aid such as student loans and the group who received both gift aid and self-help aid.The investigation of the educational effects of college students’ financial aid should not be limited to exploring the impact on the development of college students, while its effects on a more macro-political level needs to be considered.