new groups of students arriving on campus encountered a social system centered on exclusive old boys' clubs. We combine … archival and Census records of students' college lives and long-run careers with a room-randomization design based on a scaled … residential integration policy. We first show that high-status students from prestigious private high schools perform worse …

government and reached 30% of student loan applicants. We show that the low-income and low-achieving students who apply to low … correctly centered. Treatment causes low-income students to reduce their demand for low-return degrees by 4.6%, and increases …-earning college degree programs overestimate earnings for past graduates by over 100%, while beliefs for high-achieving students are …

We use large-scale surveys of Chilean college applicants and college students to explore the way students form beliefs … to observed values for past students and follow survey participants forward to see how beliefs relate to matriculation … and dropout outcomes. We find that students have correctly centered but noisy cost expectations, and appear to …