Growing reliance on student loans and repayment difficulties have raised concerns of a student debt crisis in the United States. However, little is known about the effects of student borrowing on human capital and long-run financial well-being. We use variation induced by recent expansions in...

Financial aid from the Susan Thompson Buffett Foundation (STBF) provides exceptionally generous support to a college population similar to that served by a host of state aid programs. In conjunction with STBF, we randomly assigned aid awards to thousands of Nebraska high school graduates from...

Borrowing for education has increased rapidly in the past several decades, such that the majority of non-housing debt on US households' balance sheets is now student loan debt. This chapter analyzes the implications of student loan borrowing for later-life economic well-being, with a focus on...

We show that the electorate’s preferences for using tuition to finance higher education strongly depend on the design of the payment scheme. In representative surveys of the German electorate (N18,000), experimentally replacing regular upfront by deferred income-contingent payments increases...

The Recruitment grant was a student aid policy that replaced the loans in the student aid system with grants for unemployed adults with low education. In this paper, I estimate the causal effects of repealing this policy on the educational attainment and subsequent labor market outcomes for the...

Substantial increases in public university tuition often raise concerns about college affordability. But assessment of the impacts on low- and moderate-income families requires consideration of whether net tuition--tuition less grant aid--has increased commensurately. This paper describes recent...

Proposed "free college" policies vary widely in design. The simplest approach sets tuition to zero for everyone. More targeted approaches limit free tuition to those who successfully demonstrate need through an application process. We experimentally test the effects of these two models on the...

A concern in higher education policy is that students are taking longer to graduate. One possible reason for this observation is an increase in off-campus labor market participation among college students. Financial aid may play a role in the labor/study choice of college students-as college...

The impact of policies that increase access to schooling to children in low income countries is mediated by household responses that distribute educational investments across children; however, these household responses are often difficult to cleanly identify. In this paper, I study a UPE reform...