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Discussion Paper
Diplomas to Doorsteps: Education, Student Debt, and Homeownership
Evidence overwhelmingly shows that the average earnings premium to having a college education is high and has risen over the past several decades, in part because of a decline in real average earnings for those without a college degree. In addition to high private returns, there are substantial social returns to having a well-educated citizenry and workforce. A new development that may have important longer-term implications for education investment and for the broader economy is a significant change in the financing of higher education. State funding has declined markedly over the past two ...
Speech
What Will Your Letter Say?
Presentation at Utah Valley University's Commencement, Orem, Utah, May 6, 2022, by Mary C. Daly, President and Chief Executive Officer, Federal Reserve Bank of San Francisco.
Working Paper
Affording Degree Completion: An Experimental Study of Completion Grants at Accessible Public Universities
To improve college affordability and graduation rates, universities are increasingly allocating “completion grants” to students who are nearing the finish line but facing financial challenges. Using an experimental design and common program model across 11 broad-access public universities in ten states, we assessed the impact of a completion grants averaging $1,200 distributed among more than 14,000 students. We find that, despite university expectations that most students were near completion, only two-thirds of students eligible to receive a completion grant graduated within the ...
Speech
In Character We Trust
Philadelphia Fed President Patrick T. Harker delivered the commencement address to graduates of the ABA Stonier Graduate School of Banking. The speech focused on the importance of character and integrity for leaders of financial institutions
Journal Article
The Choice to See
Public service is not a job. It’s a choice to see people clearly and to act on what you see. This is the message of the following commencement speech delivered on May 12 by the president and CEO of the Federal Reserve Bank of San Francisco to the Sol Price School of Public Policy, University of Southern California, Los Angeles.