000			01253nam a22001457a 4500
999			_c514646 _d514646
008			201125b ||||| |||| 00| 0 eng d
100			_aCellini, S.R. Darolia, and Turner, L.J. _921446
245			_aWhere do students go when for-profit colleges lose federal aid?
260			_aAmerican Economic Journal Economic Policy
300			_a12(2), May, 2020: p.46-83
520			_aWe examine the effects of federal sanctions imposed on for-profit institutions in the 1990s. Using county-level variation in the timing and magnitude of sanctions linked to student loan default rates, we estimate that sanctioned for-profits experience a 68 percent decrease in annual enrollment following sanction receipt. Enrollment losses due to for-profit sanctions are 60–70 percent offset by increased enrollment within local community colleges, where students are less likely to default on federal student loans. Conversely, for-profit sanctions decrease enrollment in local unsanctioned for-profit competitors, likely due to improved information about local options and reputational spillovers. Overall, market enrollment declines by 2 percent. – Reproduced
773			_aAmerican Economic Journal Economic Policy
906			_aHIGHER EDUCATION
942			_cAR