students who take out a loan do not earn a degree (the dropout rate among college students is between 33 and 50 percent). We … and graduation rates among recent U.S. high school graduates. In our model, students may fail to earn a degree because …

For-profit providers are becoming an increasingly important fixture of US higher education markets. Students who attend … than students attending similarly-selective public schools. Because for-profits tend to serve students from more …. The first-stage estimates show that students are much more likely to enroll in a for-profit institution for a given labor …