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 …

emergence of differentials in abilities between children of advantaged families and children of disadvantaged families, (c) the …

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 …

forecastable at the time students decide to go to college (heterogeneity) and components that are unforecastable. About 60% of …

. Their study has been faulted because minority children and their parents may have pessimistic expectations about receiving … outcomes, minority parents and children have more pessimistic expectations about child schooling relative to white children and … their parents when their children are young. At later ages, expectations are more uniform across racial and ethnic groups …

This paper examines the family income -- college enrollment relationship and the evidence on credit constraints in post … ability. Long-run factors crystallized in ability are the major determinants of the family income -- schooling relationship …