We use a calibrated macroeconomic model to examine the different effects of university tuition and student loan policies aimed at improving access to public higher education. Student loans that condition repayment on future income substantially improve access. The significant fiscal cost of such...

A natural experiment in education on Israeli kibbutzim, where investment in human capital is equal for all children, allows us to differentiate between the effect on children's grades of genetics and home environment on the one hand and of material resources invested in education on the other...