Borrowing Constraints and the Returns to Schooling

@inproceedings{Cameron1999BorrowingCA,
  title={Borrowing Constraints and the Returns to Schooling},
  author={Stephen V. Cameron},
  year={1999}
}
To a large degree, the expansion of student aid programs to potential college students over the past 25 years in the United States has been based on the presumption that borrowing constraints present an obstacle to obtaining a college education. Economists and sociologists studying schooling choices have found empirical support for college subsidies in the well-documented, large positive correlation between family income and schooling attainment. This correlation has been widely interpreted as… CONTINUE READING
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