Financing Higher Education

John Y. Campbell and Kaye G. Husbands, Organizers

April 4-5, 2024

Riverfront Room, Royal Sonesta Hotel, Cambridge, MA and Zoom

Conference Code of Conduct

Thursday, April 4
Luncheon, Charles A Room, Royal Sonesta Hotel
Welcome
2:09 pm
Session 1: Tuition and the Demographic Challenge
Chair: Kaye Husbands Fealing, Georgia Institute of Technology
2:10 pm
Peter Hinrichs, W.E. Upjohn Institute for Employment Research

How Much Can Families Afford to Pay for College?
Discussant: Phillip B. Levine, Wellesley College and NBER
Break
3:30 pm
Jacob L. Vigdor, University of Washington and NBER

The Ebbing Tide: How Will Higher Education Adapt to Demographic Change?
Discussant: Francisca M. Antman, University of Colorado Boulder
Break
4:44 pm
Session 2: Endowment, Debt, and Financial Management
Chair: James Poterba, MIT and NBER
4:45 pm
Christopher Avery, Harvard University and NBER
Ronald G. Ehrenberg, Cornell University and NBER
Catharine Hill, Ithaka S+R
Douglas A. Webber, Federal Reserve Board of Governors

Endowment Spending Rules (slides)
Discussant: Jeffrey R. Brown, University of Illinois Urbana-Champaign and NBER
5:45 pm
Panel Discussion: Financial Management Challenges in Higher Education
Robert Brown, Boston University
Benjamin Hermalin, University of California
Lisa Lynch, Brandeis University and NBER
Adjourn and Dinner
Friday, April 5
Breakfast
8:44 am
Session 2: Endowment, Debt, and Financial Management (continued)
Chair: James Poterba, MIT and NBER
8:45 am
John Y. Campbell, Harvard University and NBER
Jeremy C. Stein, Harvard University and NBER
Alex A. Wu, Harvard University

Economic Budgeting for Endowment-Dependent Universities
Discussant: Antoinette Schoar, Massachusetts Institute of Technology and NBER
9:45 am
Matteo Binfarè, University of Missouri
Kyle Zimmerschied, University of Missouri

The Role of Debt in Financing Higher Education
Discussant: Daniel Bergstresser, Brandeis University
Break
11:14 am
Session 3: Financing Diversity, Equity, and Inclusion
Chair: John Campbell, Harvard University and NBER
11:15 am
Nikki Edgecombe, Columbia University
Elise Swanson, Harvard University
Thomas Brock, Columbia University
Maria Cormier, Community College Research Center, Teachers College, Columbia University
Christopher Avery, Harvard University and NBER
Carmen Huynh, Community College Research Center, Teachers College, Columbia University

Financing Community Colleges: Current Landscape and Future Directions
Discussant: Isaac McFarlin Jr.
Lunch
1:15 pm
Riley K. Acton, Miami University
Kalena Cortes, Texas A&M University and NBER
Camila Morales, University of Texas at Dallas

Distance to Opportunity: Higher Education Deserts and College Enrollment Choices
Discussant: Zachary Bleemer, Princeton University and NBER
2:15 pm
James Ward, Ithaka S+R
Daniel Corral, University of Toronto
Catharine Hill, Ithaka S+R

Resetting Tuition at Minority Serving Institutions: Implications for Enrollment and Institutional Finances
Discussant: Bridget T. Long, Harvard University and NBER
Closing Discussion
Adjourn