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Keywords:higher education 

Briefing
College Towns and COVID-19: The Impact on New England

The abrupt closing of college campuses this spring due to the spread of COVID-19 upended the lives of students and their families and disrupted the higher education sector. The impact of these closures and the questions of whether and how to reopen campuses this fall have been widely discussed. Less attention has been paid to the potential consequences for the local economies of the cities and towns that depend heavily on higher education. This issue is particularly important in New England, where in many communities, colleges and universities are among the largest employers and make an ...
New England Public Policy Center Regional Brief , Paper 2020-3

Discussion Paper
Who Falters at Student Loan Payback Time?

This is the final post in a four-part series examining the evolution of enrollment, student loans, graduation and default in the higher education market over the course of the past fifteen years. In the first post, we found a marked increase in enrollment of 35 percent between 2000 and 2015, led mostly by the for-profit sector?which increased enrollment by 177 percent. The second post showed that these new enrollees were quite different from the traditional enrollees. Yesterday?s post demonstrated an unprecedented increase in loan origination amounts during this period?nearly tripling between ...
Liberty Street Economics , Paper 20160909

Discussion Paper
How Colleges and Universities Can Help Their Local Economies

Policymakers are increasingly viewing colleges and universities as important engines of growth for their local areas. In addition to having direct economic impacts, these institutions help to raise the skills of an area’s workforce (its local “human capital”), and they do this in two ways. First, by educating potential workers, they increase the supply of human capital in a region. Perhaps less obviously, these schools can also raise a region’s demand for human capital by helping local businesses create jobs for skilled workers. In this post, we draw on our recent academic research ...
Liberty Street Economics , Paper 20120213

Working Paper
Affirmative Action and Racial Segregation

Prior research suggests that statewide affirmative action bans reduce minority enrollment at selective colleges while leaving overall minority college enrollment unchanged. However, the effect of these bans on across-college racial segregation has not yet been estimated. This effect is theoretically ambiguous due to a U-shaped relationship across colleges between minority enrollment and college selectivity. This paper uses variation in the timing of affirmative action bans across states to estimate their effects on racial segregation as measured by standard exposure and dissimilarity indexes, ...
Working Papers , Paper 16-36R

Working Paper
Making the (Letter) Grade: The Incentive Effects of Mandatory Pass/Fail Courses

In Fall 2014, Wellesley College began mandating pass/fail grading for courses taken by first-year, first-semester students, although instructors continued to record letter grades. We identify the causal effect of the policy on course choice and performance, using a regression-discontinuity-in-time design. Students shifted to lower-grading STEM courses in the first semester, but did not increase their engagement with STEM in later semesters. Letter grades of first-semester students declined by 0.13 grade points, or 23% of a standard deviation. We evaluate causal channels of the grade ...
Working Paper Series , Paper WP 2022-55

Journal Article
The Return on Investing in a College Education

Comparing higher education’s costs and benefits—tuition and greater future earnings, respectively—shows that the returns on investing in college can be high.
The Regional Economist

Working Paper
The Expanding Landscape of Online Education: Who Engages and How They Fare

Online offerings at traditional brick-and-mortar universities have become common, though some question if online courses can adequately substitute for thein-person college experience. We explore changes in undergraduate online course enrollment at a large, public 4-year system and the impacts of online courses onstudent outcomes. Online enrollment in courses nearly doubled from 2012 to 2019 when almost 40 percent took at least one class online. Female students and older students were especially likely to take online classes. Using an instrumental variables approach, we find that GPAs are ...
Working Paper Series , Paper WP 2022-52

Journal Article
Founding America's First Research University

Economic History article of: Founding America's First Research University{{p}} Johns Hopkins put American higher education on the path to world domination
Econ Focus , Issue 3Q , Pages 22-25

Working Paper
Does Salient Financial Information Affect Academic Performance and Borrowing Behavior among College Students?

While rising student loan debt can plague college students future finances, few federal programs have been instituted to educate college students on the mechanics of student loan borrowing. This paper exploits a natural experiment in which some students received "Know Your Debt" letters with incentivized offers for one-on-one financial counseling. Montana State University students who reached a specific debt threshold received these letters; University of Montana students did not. We use a difference-in-difference-in-differences strategy to compare students above and below the thresholds ...
Finance and Economics Discussion Series , Paper 2015-75

Briefing
Transitioning from High School to College: Differences across Virginia

In Virginia, there are substantial differences across school districts in college enrollment and, conditional on college enrollment, attendance at high-resource colleges and universities. School districts in low-income and relatively rural areas tend to demonstrate the weakest outcomes, but income and geography do not fully account for the observed differences. Whether limited enrollment at a broad range of colleges arises from gaps in academic preparation, difficulty in navigating the application process, or individual preference matters greatly for public policy.
Richmond Fed Economic Brief , Issue December

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