When a student receiving Title IV financial aid, such as a Pell Grant, withdraws after attending for 60% or less of an enrollment period, federal aid rules require colleges to return a portion of students’ Title IV aid disbursals to the U.S. Department of Education, in a policy known as...

We conducted a rapid analysis of President Biden’s executive order to cancel student debt. The analysis uses survey data from the National Center for Education Statistics Beginning Postsecondary Student (04/12) survey and Baccalaureate and Beyond (2016/2017) survey and the Survey of Consumer...

This paper studies how private equity buyouts create value in higher education, a sector with opaque product quality and intense government subsidy. With novel data on 88 private equity deals involving 994 schools, we show that buyouts lead to higher tuition and per-student debt. Exploiting loan...

This paper studies how private equity buyouts create value in higher education, a sector with opaque product quality and intense government subsidy. With novel data on 88 private equity deals involving 994 schools, we show that buyouts lead to higher tuition and per-student debt. Exploiting loan...

This paper studies how private equity buyouts create value in higher education, a sector with opaque product quality and intense government subsidy. With novel data on 88 private equity deals involving 994 schools, we show that buyouts lead to higher tuition and per-student debt. Exploiting loan...

This paper examines the recent changes in the relationships between public research universities and financial markets, using the University of California as a case study. Between 2003 and 2011, UC’s outstanding bond debt to investors more than doubled. Funds raised through borrowing were...

Between 1980 and 2010 California’s health care policy field shifted from a business-dominated, closed-door pattern of decision making to an open political arena in which a wide-ranging and diversely resourced coalition advocating on behalf of beneficiaries had become an accepted partner...