policies that emerge from their competition for students. The calibrated version of the model matches well the aggregate … distribution of federal aid. Predictions about the distribution of students across colleges by ability and income and about the …, virtually all of the increase being in state colleges and mainly of poor students. Private colleges reduce institutional aid and …

policies that emerge from their competition for students. The calibrated version of the model matches well the aggregate … distribution of federal aid. Predictions about the distribution of students across colleges by ability and income and about the …, virtually all of the increase being in state colleges and mainly of poor students. Private colleges reduce institutional aid and …

to students on the basis both of financial need and academic (and other) merit, with merit influencing not only total …-secondary education, both whether and where they attend are importantly influenced by family background. Among students who score well on …, while only about 75% of those from low SES backgrounds do. High-income students are also more likely to attend private …