Loans for Higher Education: Does the Dream Come True?
---- Acknowledgements -----
We are indebted to the useful comments of Lori Beaman, Luc Behaghel, Claudio Ferraz, Salvador Navarro, Giordano Palloni, Esteban Puentes, Rodrigo Soares, Jean-Marc Robin, Bernardita Vial, Mauricio Villena and seminar participants at the annual meeting of the Society for Economics Dynamics (Cyprus, 2012), North American Summer Meeting of the Econometric Society (Evanston, 2012), PUC Rio (Brazil, 2012), IADB (DC, 2012), IZA (Germany, 2012), Toulouse School of Economics (France, 2012), Paris School of Economics (France, 2012), 34th Meeting of the Brazilian Econometric Society (Brazil, 2012), Pontificia Universidad Catolica de Chile (Chile, 2012), Universidad de Chile (Chile, 2011), and the World Bank (DC, 2011). We thank the Finance Ministry of Chile and its Budget Office for providing us access to the data. Tomas Rau and Sergio Urzua thank the support of Centro de Microdatos at the University of Chile through the Millennium Science Initiative sponsored by the Chilean Ministry of Economics, Development and Tourism, Project NS100041. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.