enrollment among students with low parental income and improve life-cycle earnings outcomes. This paper calculates the elasticity … there is a sharp increase in aggregate educational attainment as a result of the subsidy. However, I also find that there is … an overall decrease in mean life-cycle earnings due to students downgrading from 4-year colleges to 2-year colleges …

higher education students by low-interest loans. We show that this reform had a large impact on education choices of … secondary school students, lowering their enrolments in college-preparing tracks and increasing the share of students … that secondary school students respond to the modes of higher education financing well ahead of their graduation, and that …