Remuneration-post-verification subsidies and microcredit have been postulated as potential solutions to imperfect capital markets and commitment problems that impede lumpy human capital investments, but little is known about the merit of combining these financing mechanisms. We draw on a cluster...

Making lumpy human capital investments is difficult, particularly since returns may accrue with a significant time lag. Lack of commitment impedes savings and diverts funds from intended investments. We draw on a cluster randomised controlled trial in rural India to provide the first evidence...