TY  - BOOK
AU  -  Johnson Mathew T.
TI  - Borrowing constraints College enrollment and delayed entry
SN  - 0734-306
AV  - HD5706 JOU
PY  - 2013///
CY  - Chicago
PB  - University of Chicago
N2  - In this article, I propose and estimate a dynamic model of education, borrowing, and work decisions of high school graduates. I examine the effect of relaxing borrowing constraints on educational attainment by simulating increases in the amount students are permitted to borrow from government-sponsored loan programs. My results indicate that borrowing constraints have a small impact on attainment: the removal of education-related borrowing constraints raises bachelor’s degree completion by 2.4 percentage points. Tuition subsidies are necessary to obtain larger increases: I find that higher subsidies for average-ability students are the most cost effective targeted tuition subsidie
UR  - https://doi.org/10.1086/669964
ER  -