There is no doubt that the contribution of private schools, both faith-inspired and secular, is significant in Africa: private schools fill a gap left by insufficient public education and they provide choice to households. Yet detailed evidence on their market share and characteristics is often...

This paper studies the long-run macroeconomic, distributional and welfare effects of tuition policy and student loans. We therefore form a rich model of risky human capital investment based on the seminal work of Heckman, Lochner and Taber (1998). We extend their original model by variable labor...