markets. These constraints imply cross-sectional patterns for schooling, ability, and family income that are consistent with U … -- schooling relationship for low-income youth. We show that the rising empirical importance of familial wealth and income in …

their lives, parents' initial skills and skill growth rates are equally important determinants of children's skills, largely … earnings and skill IGEs decline substantially for more recent cohorts and are lower for children born to younger fathers … of these factors explains up to 40% of children's skill variation. Skills become a more important determinant of earnings …

, over half of all low-income borrowers manage to make timely payments. We demonstrate that other financial resources in the … advocated for a move to an income-based repayment system. Under such a system, many low-income borrowers in good-standing (due … payment among those that are currently delinquent or in default since their income levels are so low. Specifically, we show …

have increased. We discuss these trends as well as recent evidence on the extent to which students are able to obtain … student credit arrangements that balance three important objectives: (i) providing credit for students to access college and … outcomes in the form of income-contingent repayments, and (iii) providing incentives for student borrowers to honor their loan …