The Effect of Credit Constraints on the College Drop-Out Decision: A Direct Approach Using a New Panel Study
利用Berea面板研究的独特纵向数据，直接识别信贷约束学生，发现信贷约束虽影响部分学生辍学，但低收入家庭学生辍学主因并非信贷约束。
A serious difficulty in determining the importance of credit constraints in education arises because standard data sources do not provide a direct way of identifying which students are credit constrained. This paper differentiates itself from previous work by taking a direct approach, made possible by unique longitudinal data from the Berea Panel Study. The results from our study of Berea College students suggest that, while credit constraints likely play an important role in the drop-out decisions of some students, the large majority of attrition of students from low-income families should be primarily attributed to reasons other than credit constraints.