Optimal Need-Based Financial Aid
| Restricted until: | Feb 28, 2022 |
| Type of Publication: | Journal article |
| Publication status: | Published |
| URI (citable link): | http://nbn-resolving.de/urn:nbn:de:bsz:352-2-jotru774r63m6 |
| Author: | Colas, Mark; Findeisen, Sebastian; Sachs, Dominik |
| Year of publication: | 2021 |
| Published in: | Journal of Political Economy ; 129 (2021), 2. - pp. 492-533. - University of Chicago Press. - ISSN 0022-3808. - eISSN 1537-534X |
| DOI (citable link): | https://dx.doi.org/10.1086/711952 |
| Summary: |
We study the optimal design of student financial aid as a function of parental income. We derive optimal financial aid formulas in a general model. We estimate a model of selection into college for the United States that comprises multidimensional heterogeneity, endogenous parental transfers, dropout, labor supply in college, and uncertain returns. We quantify optimal financial aid in the estimated model and find it is strongly declining in parental income even without distributional concerns. Equity and efficiency go hand in hand.
|
| Subject (DDC): | 330 Economics |
| Bibliography of Konstanz: | Yes |
| Refereed: | Yes |
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COLAS, Mark, Sebastian FINDEISEN, Dominik SACHS, 2021. Optimal Need-Based Financial Aid. In: Journal of Political Economy. University of Chicago Press. 129(2), pp. 492-533. ISSN 0022-3808. eISSN 1537-534X. Available under: doi: 10.1086/711952
@article{Colas2021Optim-52790, title={Optimal Need-Based Financial Aid}, year={2021}, doi={10.1086/711952}, number={2}, volume={129}, issn={0022-3808}, journal={Journal of Political Economy}, pages={492--533}, author={Colas, Mark and Findeisen, Sebastian and Sachs, Dominik} }
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