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College Cost, Borrowing Constraints and the Timing of College Entry

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  • Thomas J. Kane

    (Kennedy School of Government, Harvard University)

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    Abstract

    College students receive both direct subsidies in the form of grants and loans provided by the government and by educational institutions and indirect subsidies in the form of tuition levels which do not cover the full cost of education. This paper examines the distribution of each of these forms of subsidy to students at different income levels who attend public and private colleges and universities. Students in private colleges receive lower indirect subsidies, but significantly higher direct subsidies than do those in public colleges. The distribution of subsidies in the private sector is distinctly pro-poor, but this is not true in the public sector. Other findings include higher subsidies for undergraduates studying at four year colleges than for those in universities and significant saving of public funds on middle and upper-income students studying in private institutions.

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    File URL: http://college.holycross.edu/RePEc/eej/Archive/Volume22/V22N2P181_194.pdf
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    Bibliographic Info

    Article provided by Eastern Economic Association in its journal Eastern Economic Journal.

    Volume (Year): 22 (1996)
    Issue (Month): 2 (Spring)
    Pages: 181-194

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    Handle: RePEc:eej:eeconj:v:22:y:1996:i:2:p:181-194

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    Postal: c/o Dr. Alexandre Olbrecht, The Anisfield School of Business 205, Ramapo College, 505 Ramapo Valley Road, Ramapo, New Jersey 07430, USA
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    Web page: http://www.ramapo.edu/eea/journal.html
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    Related research

    Keywords: Education; Tuition;

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    Cited by:
    1. Ralph Stinebrickner & Todd Stinebrickner, 2008. "The Effect of Credit Constraints on the College Drop-Out Decision: A Direct Approach Using a New Panel Study," American Economic Review, American Economic Association, vol. 98(5), pages 2163-84, December.
    2. Bas Jacobs & Hongyan Yang, 2013. "Second-Best Income Taxation with Endogenous Human Capital and Borrowing Constraints," CESifo Working Paper Series 4155, CESifo Group Munich.
    3. Loreto Reyes & Jorge Rodríguez & Sergio S. Urzúa, 2013. "Heterogeneous Economic Returns to Postsecondary Degrees: Evidence from Chile," NBER Working Papers 18817, National Bureau of Economic Research, Inc.
    4. Alberto Tumino, 2013. "The effect of local labour market conditions on educational choices: a cross country comparison," ImPRovE Working Papers 13/06, Herman Deleeck Centre for Social Policy, University of Antwerp.
    5. John Bound & Sarah Turner, 2007. "Understanding the Increased Time to the Baccalaureate Degree," Discussion Papers 06-043, Stanford Institute for Economic Policy Research.
    6. Flavio Cunha & James J. Heckman & Lance Lochner & Dimitriy V. Masterov, 2005. "Interpreting the Evidence on Life Cycle Skill Formation," NBER Working Papers 11331, National Bureau of Economic Research, Inc.
    7. Tomás Rau & Eugenio Rojas & Sergio Urzúa, 2013. "Loans for Higher Education: Does the Dream Come True?," NBER Working Papers 19138, National Bureau of Economic Research, Inc.
    8. Jones, Stephen, 2012. "The Effectiveness of Training for Displaced Workers with Long Prior Job Tenure," CLSSRN working papers clsrn_admin-2012-3, Vancouver School of Economics, revised 29 Jan 2012.
    9. Kane, Thomas J., 1997. "Beyond Tax Relief: Long-Term Challenges in Financing Higher Education," National Tax Journal, National Tax Association, vol. 50(2), pages 335-49, June.
    10. Frenette, Marc, 2005. "Is Post-secondary Access More Equitable in Canada or the United States?," Analytical Studies Branch Research Paper Series 2005244e, Statistics Canada, Analytical Studies Branch.
    11. Lucia Nixon & Michael Robinson, 1999. "The educational attainment of young women: Role model effects of female high school faculty," Demography, Springer, vol. 36(2), pages 185-194, May.
    12. Thompson, Fred & Zumeta, William, 2001. "Effects of key state policies on private colleges and universities: sustaining private-sector capacity in the face of the higher education access challenge," Economics of Education Review, Elsevier, vol. 20(6), pages 517-531, December.
    13. Matthew T. Johnson, 2010. "Borrowing Constraints, College Enrollment, and Delayed Entry," Working Papers 2011-006, Human Capital and Economic Opportunity Working Group, revised Sep 2012.
    14. Salvador Navarro, 2011. "Using Observed Choices to Infer Agent's Information: Reconsidering the Importance of Borrowing Constraints, Uncertainty and Preferences in College Attendance," University of Western Ontario, CIBC Centre for Human Capital and Productivity Working Papers 20118, University of Western Ontario, CIBC Centre for Human Capital and Productivity.

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