When planning for college, students face a range of constrained choices governed in part by variation among institutions. What are the economic consequences of those decisions and constraints during and after college? We know borrowing patterns vary by institutional sector, yet colleges within a sector vary considerably by admission and graduation…

In this paper we analyze longitudinal data from a nationally representative panel of college entrants to test and compare several theoretical explanations of college degree attainment and noncompletion. So far, relatively little emphasis has been placed on determining the relative and combined predictive power of competing explanations or…