The paper studies the impact of financial aid on long-term educational attainment and labor market outcomes in Colombia. In 2014, the government launched a large-scale and generous student loan program called "Ser Pilo Paga." It offered full tuition coverage to students admitted to one of 33...

Skeptics of school choice are concerned that parents, especially low-income ones, will not choose schools based on sound academic reasoning. Many fear that, given choice, parents will sort themselves into different schools along class lines. How-ever, most surveys find that parents of all...