succeed academically and drop out. (ii) At the college entry stage, their poor graduation prospects deter low ability students …This paper estimates the effect of graduating from college on lifetime earnings. Motivated by the fact that nearly half … of all college students fail to earn a bachelor's degree, we study a model of risky college completion. The central idea …

succeed academically and drop out. (ii) At the college entry stage, their poor graduation prospects deter low ability students …This paper estimates the effect of graduating from college on lifetime earnings. Motivated by the fact that nearly half … of all college students fail to earn a bachelor's degree, we study a model of risky college completion. The central idea …

State merit aid programs have been found to reduce the likelihood that students attend college out-of-state. Using the …

discontinuity design. Loan programs induce students to pursue college degrees that are more expensive and prolonged relative to … education when students are about 30 years old. The college premium seems to increase over time, possibly offsetting the initial …