Bulman, George; Fairlie, Robert W.; Goodman, Sarena; … - 2020
We examine U.S. children whose parents won the lottery to trace out the effect of financial resources on college … college costs. Effects are smaller among low-SES households, not sensitive to how early in adolescence the shock occurs, and … not moderated by financial aid crowd-out. The results imply that households derive consumption value from college and …