In the United States, like many developed countries, government provides substantial support for primary, secondary, and postsecondary education. In 2011, expenditures on education are expected to equal 7.6 percent of GDP (National Center for Education Statistics 2011). At the postsecondary level, federal grants and loans for college students aim to ameliorate credit market imperfections. Publicly provided K–12 education insures universal access to human capital development for all children. The three essays that make up this dissertation broadly focus on the role government should play in financing and providing education.
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