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Borrowing constraints, college enrollment, and delayed entry/ created by Matthew T. Johnson

By: Material type: TextTextSeries: Journal of labor economics ; Volume 31, number 4Chicago: University of Chicago Press, 2013Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 0734306X
Subject(s): LOC classification:
  • HD5706 JOU
Online resources: Abstract: In this paper 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 college completion: the removal of education related borrowing constraints increases degree completion by 1.1 percentage points. Tuition subsidies have much larger impacts. I find that increased subsidies for middle income households are the most cost effective method to raise degree completion.
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Holdings
Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article Journal Article Main Library - Special Collections HD5706 JOU (Browse shelf(Opens below)) Vol. 31, no.4 (pages 669-726) SP17577 Not for loan For In House Use Only

In this paper 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 college completion: the removal of education related borrowing constraints increases degree completion by 1.1 percentage points. Tuition subsidies have much larger impacts. I find that increased subsidies for middle income households are the most cost effective method to raise degree completion.

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