In higher education, pure credit market funding leads to underinvestment due to insufficient risk pooling, while pure … credit markets coexist alongside income-contingent loan funding – might restore efficiency of the educational investment … and, under some condition, leads to higher social welfare than pure credit market funding. If combined with a policy that …

instead shifts students across higher education sectors. Finally, we provide suggestive evidence that students induced to …

student credit arrangements that balance three important objectives: (i) providing credit for students to access college and … have increased. We discuss these trends as well as recent evidence on the extent to which students are able to obtain … enough credit for college and the extent to which they are able to repay their student debts after. We then discuss optimal …

student credit arrangements that balance three important objectives: (i) providing credit for students to access college and … have increased. We discuss these trends as well as recent evidence on the extent to which students are able to obtain … enough credit for college and the extent to which they are able to repay their student debts after. We then discuss optimal …

among poorer, credit-constrained students. Thus, the relatively large increases in the price of education in the United … from a random sample of undergraduate students in the United States and implement a research design that instruments for … tuition with relatively large changes to the tuition of students who enrolled at the same school in different cohorts. We find …

preferred. Risk-pooling schemes can however be prone to adverse selection problems, particularly if students are mobile. The … paper explores the implications of allowing students to opt out of the risk-pooling income-contingent loan for a pure loan …. It shows that risk-pooling income-contingent loans can be sustained even when some students opt out …

volatility in future income is transferred from risk-averse students to the risk-neutral state. However, a double moral hazard … problem arises when students' efforts to raise lifetime income and universities' activities to improve teaching quality are …

We exploit credit bureau data linked to administrative data of undergraduate students in the U.S. and implement a … undergraduate degree among poorer, credit-constrained students. We conclude that large increases in the price of education have a … research design that instruments for tuition with relatively large changes to the tuition of students who enrolled at the same …