In the early 2000s, a highly selective university introduced a "no-loans" policy under which the loan component of financial aid awards was replaced with grants. We use this natural experiment to identify the causal effect of student debt on employment outcomes. In the standard life-cycle model, young people make optimal educational investment…

The debt crisis of the lesser developed countries (LDCs) may provide opportunities for educational institutions. Through debt-for-education programs, a part of the huge debt load can be channelled into financing various educational programs sponsored by U.S. higher education institutions. Private commercial banks and multinational corporations are…

Recent efforts of the World Bank to improve global economic problems are described, issues which will influence the role of the World Bank in the decade to come are discussed, and the Bank's future role is examined. Recent World Bank efforts to help developing nations include a lending program, project investments, analytical and advisory work,…