Philly Fed: school failure insurance reduces dropout rates
A Philadelphia Federal Reserve paper published on Monday investigates whether the risk of failing to complete college can be insured against and finds that offering such insurance would reduce dropout rates.
The paper notes that the dropout rate among college students is between 33% and 50% and that participants in student loan programs must repay loans in full regardless of whether they complete college.
Satyajit Chatterjee and Felicia Ionescu, the paper's authors, examine whether insurance
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