Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/216408 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 13096
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
Using data from a Canadian field experiment on the financial barriers to higher education, we estimate the distribution of the value of financial aid for prospective students. Our results point out that a considerable share of prospective students are affected by credit constraints. We find that most of the individuals are willing to pay a sizable interest premium above the prevailing market rate for the option to take up a loan, with a median interest rate wedge equal to 6.8 percentage points for a $1,000 loan. The willingness-to-pay for financial aid is highly heterogeneous across students, with preferences and in particular discount factors, playing a key role in accounting for this variation.
Schlagwörter: 
higher education financing
time and risk preferences
field experiment
JEL: 
I22
I23
J24
Dokumentart: 
Working Paper

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