participation. We build an overlapping generations life cycle model with education, labor supply, and consumption/saving decisions …. Cognitive and non-cognitive skills of children depend on the cognitive skills and education of parents, and affect education … be used to fund education, supplementing grants, loans and the labor supply of the children themselves during college …

participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labor … education. We find that the current financial aid system in the U.S. improves welfare, and removing it would reduce GDP by 4 …

education, labour supply, and consumption/saving decisions. Altruistic parents make inter vivos transfers to their children … of funding for college education. We find that the current financial aid system in the U.S. improves welfare, and …