Policies need not only to be well designed to effectively address market failures, but their parameters also need to be part of agents' information sets. This is illustrated by government student loans in the Netherlands which are intended to alleviate liquidity constraints. Despite generous...

I quantify the effects of alternative student loan policies on college enrollment, borrowing behavior, and default rates in a heterogeneous model of life-cycle earnings and human capital accumulation. I find that the combination of learning ability and initial human capital stock drives the...

Does the payment of peanuts tend to result in the hiring of monkeys? Unfortunately, privacy and other constraints on data mean that surprisingly little is known about this issue. In this paper, I use some unique data from the New Zealand academic system to provide direct evidence that pay levels...

We apply theories of capital market failure to analyze optimal financing of risky higher education. In the market solution, students can only finance their education through debt. There is underinvestment in human capital, because some students with socially profitable investments in human...

This paper examines bankrupt families' attitudes toward, and need for, financial education. The data are derived from a longitudinal study of families who filed for personal bankruptcy. We examine the implications of bankrupt debtors' attitudes and experiences for the content and delivery of...

This essay argues how the structure of higher education in Colombia is a reflection of a dependent organizational political contract with tenuous advances on independence. Therefore, its implementation requires higher cost in terms of political transaction compared with a contract of...

The article imports into the legal literature for the first time the full range of single sex education research, from this country and others, and examines sociological research that has been omitted from the debate. Rarely do proponents consider what educational and social effects...

The Securities and Exchange Commission's disclosure philosophy has largely focused on a single model: the publicly held corporation. From its inception, the SEC's disclosure framework for mutual funds has been a relative backwater and based largely on the disclosure framework for publicly held...

In the public discourse, education is usually considered as the main vehicle for the promotion of social equality and social mobility. The paper surveys the existing literature and concludes that the relationship between education and inequality in Greece is strong. Inequities are evident at all...

Student loans, even income-contingent ones, are not optimal. Potential university students with the appropriate characteristics should be offered a scholarship, dependent on both need and merit. The award of the scholarship should be conditional on the choice of university degree, but students...