Enlist or enroll: Credit constraints,college aid,and the military enlistment margin |
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| Institution: | 1. School of Physics and Optoelectronic Engineering, Yangtze University, Jingzhou, People''s Republic of China;2. School of Mathematics and Information Science, North China University of Water Resources and Electric Power, Zhengzhou, People''s Republic of China |
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| Abstract: | Money for education is a primary motivation for military enlistment. One explanation is that individuals use these benefits to overcome borrowing constraints. I explore this by examining the enlistment response of individuals to additional financial aid that can be used immediately upon high-school graduation or delayed until after military enlistment. I find that the introduction of a merit-aid program decreases the probability that a male enlists in the military by 0.6 percentage points (a 6% reduction), and that these effects are concentrated among applicants who are more likely to qualify for merit scholarships. The reductions are largest in low-income areas, supporting the argument that the effects on enlistment are a result of easing financial constraints. |
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