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Tuition, Debt, and Human Capital.
- Source :
- Review of Financial Studies; Apr2023, Vol. 36 Issue 4, p1667-1702, 36p
- Publication Year :
- 2023
-
Abstract
- This paper investigates the effects of college tuition on student debt and human capital accumulation. We exploit data from a random sample of undergraduate students in the United States and implement a research design that instruments for realized tuition with relatively large changes to the advertised tuition of students who enrolled at the same school in different cohorts. We find that $5,000 in higher tuition causally reduces the probability of graduating with a graduate degree by 3.1 percentage points and increases student debt by $1,480. Higher tuition also leads to a decline in mortgage balances and an increase in credit card delinquencies. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]
- Subjects :
- TUITION
DEBT
HUMAN capital
UNDERGRADUATES
GRADUATE education
MORTGAGES
CREDIT cards
Subjects
Details
- Language :
- English
- ISSN :
- 08939454
- Volume :
- 36
- Issue :
- 4
- Database :
- Complementary Index
- Journal :
- Review of Financial Studies
- Publication Type :
- Academic Journal
- Accession number :
- 162567818
- Full Text :
- https://doi.org/10.1093/rfs/hhac065