G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w20850
来源IDWorking Paper 20850
Borrowing Trouble? Student Loans, the Cost of Borrowing, and Implications for the Effectiveness of Need-Based Grant Aid
Benjamin M. Marx; Lesley J. Turner
发表日期2015-01-19
出版年2015
语种英语
摘要We use regression discontinuity and regression kink designs to estimate the impact of need-based grant aid on the borrowing and educational attainment of students enrolled in a large public university system. Pell Grant aid substantially reduces borrowing: among students who would borrow in the absence of a Pell Grant, every dollar of Pell Grant aid crowds-out over $1.80 of loans. A simple model illustrates that our findings are consistent with students facing a fixed cost of incurring debt. The presence of such a fixed cost may lead to the unintended consequence of additional grant aid decreasing some students' attainment. Empirically, we rule out all but modest average impacts of Pell Grant aid on attainment, and we provide suggestive evidence of heterogeneous effects consistent with our fixed-borrowing-cost model. We estimate an augmented Tobit model with random censoring thresholds to allow for heterogeneous fixed borrowing costs, and find that eliminating the fixed cost would increase borrowing by over 250 percent.
主题Microeconomics ; Households and Firms ; Public Economics ; National Fiscal Issues ; Health, Education, and Welfare ; Education
URLhttps://www.nber.org/papers/w20850
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/578525
推荐引用方式
GB/T 7714
Benjamin M. Marx,Lesley J. Turner. Borrowing Trouble? Student Loans, the Cost of Borrowing, and Implications for the Effectiveness of Need-Based Grant Aid. 2015.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Benjamin M. Marx]的文章
[Lesley J. Turner]的文章
百度学术
百度学术中相似的文章
[Benjamin M. Marx]的文章
[Lesley J. Turner]的文章
必应学术
必应学术中相似的文章
[Benjamin M. Marx]的文章
[Lesley J. Turner]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。