Estimating the Effect of Student Aid on College Enrollment: Evidence from a Government Grant Policy Reform
利用丹麦改革中助学金方案的变化，分离出学生资助对大学入学的影响，发现入学对资助的反应小于其他研究，且借贷约束对入学的阻碍作用较小。
In this paper, we estimate the response of college enrollment to changes in student aid arising from a Danish reform. We separately identify the effect of aid from that of other observed and unobserved variables such as parental income. We exploit the combination of a kinked aid scheme and a reform to identify the effect of direct costs on enrollment. To allow for potential biases due to borrowing constraints, we use detailed information on parents' assets. We find that enrollment is less responsive than found in other studies and that borrowing constraints only deter college enrollment to a minor extent.