@TechReport{iza:izadps:dp13096,
            	author={Belzil, Christian and Maurel, Arnaud and Sidibé, Modibo},
            	title={Estimating the Value of Higher Education Financial Aid: Evidence from a Field Experiment},
            	year={2020},
	month={Mar},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={13096},
            	url={https://www.iza.org/index.php/publications/dp13096},
	abstract={Using data from a Canadian field experiment on the financial barriers to higher education, we estimate the distribution of the value of financial aid for prospective students. Our results point out that a considerable share of prospective students are affected by credit constraints. We find that most of the individuals are willing to pay a sizable interest premium above the prevailing market rate for the option to take up a loan, with a median interest rate wedge equal to 6.8 percentage points for a $1,000 loan. The willingness-to-pay for financial aid is highly heterogeneous across students, with preferences and in particular discount factors, playing a key role in accounting for this variation.},
	keywords={time and risk preferences;higher education financing;field experiment},
            }