We use a calibrated macroeconomic model to examine the different effects of university tuition and student loan policies aimed at improving access to public higher education. Student loans that condition repayment on future income substantially improve access. The significant fiscal cost of such...

We construct a simple model of compulsory schooling in which legislation and compliance are endogenously determined by individuals disciplined by social norms, optimizing their voting decisions and the school attendance of their children. The model provides a formal framework for interpreting...