What can subjective reports of financial difficulties add to our understanding about the role of liquidity constraints in the demand for college education? Liquidity constraints in education may lead to inefficient skill allocations and perpetuate imbalances in the distribution of economic...

How important are liquidity constraints in the demand for college education in the U.S.? Who is most likely to be affected? Persistent credit constraints can lead to inefficient skill allocations and, given the wide gap between college and high school earnings, can work to perpetuate imbalances...