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Replication data for: Borrowing Trouble? Human Capital Investment with Opt-In Costs and Implications for the Effectiveness of Grant Aid

Version
V0
Resource Type
Dataset
Creator
  • Marx, Benjamin M.
  • Turner, Lesley J.
Publication Date
2018-04-01
Description
  • Abstract

    We estimate the effect of grant aid on City University of New York (CUNY) students' borrowing and attainment using a regression discontinuity/kink design based on the federal Pell Grant formula. Each dollar of grant aid reduces loans by $1.80 among borrowers. We only find crowd-out of this magnitude in colleges that, like CUNY, "offer" no loan aid and require students to opt into borrowing. We develop and empirically support a model that shows opt-in or other fixed borrowing costs can lead grants to crowd out large amounts of loan aid, lowering some students attainment by reducing their liquid resources.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/app.20160127 (Text)
Publications
  • Marx, Benjamin M., and Lesley J. Turner. “Borrowing Trouble? Human Capital Investment with Opt-In Costs and Implications for the Effectiveness of Grant Aid.” American Economic Journal: Applied Economics 10, no. 2 (April 2018): 163–201. https://doi.org/10.1257/app.20160127.
    • ID: 10.1257/app.20160127 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 3 | Registration Date: 2019-12-07

Marx, Benjamin M.; Turner, Lesley J. (2018): Replication data for: Borrowing Trouble? Human Capital Investment with Opt-In Costs and Implications for the Effectiveness of Grant Aid. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E116341