Federal Reserve Bank of St. Louis
The Limited Impact of Free College Policies
Despite the growing popularity of free college proposals, countries with higher college subsidies tend to have higher enrollment rates but not higher graduation rates. To capture this evidence and evaluate potential free college policies, we rely on a dynamic model of college enrollment,… more →
Cows Don't Give Milk: An Effort Model of College Graduation
This paper estimates a dynamic model of college enrollment, progression, and graduation. A central feature of the model is student effort, which has a direct effect on class completion and an indirect effect mitigating risks on class completion and college persistence. The estimated model… more →