determined bequests from parents that can be used to finance schooling, uncertainty in college completion related to differences … structure, we analyze tuition subsidies such as exist in most public colleges, alternative forms of need-based aid, income … more intergenerational mobility and greater income equality. But, the various policies have quite different implications …

open to all students, and separate schools that are open to children with Catholic backgrounds. The systems are … students would raise average test scores in 6th grade by 6-8% of a standard deviation"--National Bureau of Economic Research …

rate versus just the steady-state income level - matters less than academic discussions suggest. We close by discussing …