Credit Constraints and Human Capital Investment in College Education |
| |
Authors: | Honggao Cao |
| |
Institution: | (1) Wells Fargo Consumer Credit Group, 1200 Concord Avenue, Concord, CA 94520, USA |
| |
Abstract: | Using data from the Health and Retirement Study 2001 Human Capital Investment Survey, this article examines the impact of
credit market constraints on investment in college education. The effect of family income on college attendance may not be
as big as perceived in some previous studies. The interest rates faced by children from middle families are the lowest in
the credit market. The research suggests that various government programs aiming to help children from poor families may be
effective, but only at the extensive margin—by improving their access to college education. For those who get into college,
underinvestment by students from poor families remains a significant problem.
|
| |
Keywords: | College attendance College investment Credit constraints HRS Human capital |
本文献已被 SpringerLink 等数据库收录! |
|