Grants vs. Loans: the Role of Financial Aid in College Major Choice
研究了智利学生通过助学金或贷款接受高等教育时，资助类型如何影响其大学专业选择，发现助学金获得者更倾向选择高收入领域如STEM。
Abstract We analyse whether financing higher education through student loans or grants affects the college major choices of students in Chile where either type of financing is allocated based on a standardised test. Students who are marginally eligible for grants are more likely to enrol in high-paying fields such as STEM. Complementing the reduced form results, we estimate a discrete choice model on data for narrowly defined higher education programmes. The results indicate that, holding other programme characteristics constant, grant recipients place higher value on fields with high earnings growth potential, while being less concerned about a lower graduation probability.