This paper estimates the impact of a postgraduate merit-based financial aid program in Colombia. Exploiting a regression discontinuity design using rich survey and administrative data, we find three main results by. First, credit constraints are binding and important even for talented...

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...

To contribute to the debate about decentralization of education management, in this paper, we take advantage of the arbitrary rule used in Colombia to define the municipalities that can autonomously manage schools, to evaluate through a Regression Discontinuity methodology the effect of...