In the early 2000s, a highly selective university introduced a "no-loans" policy under which the loan component of financial aid awards was replaced with grants. We use this natural experiment to identify the causal effect of student debt on employment outcomes. In the standard life-cycle model,...

Because a significant portion of U.S. students lacks critical mathematic skills, schools across the country are investing heavily in computerized curriculums as a way to enhance education output, even though there is surprisingly little evidence that they actually improve student achievement. In...