This paper uses insights from behavioral economics to explain a particularly surprising borrowing phenomenon: One in six undergraduate students offered interest-free loans turn them down. Models of impulse control predict that students may optimally reject subsidized loans to avoid excessive consumption during school. Using the National Postsecondary Student Aid Study (NPSAS), we investigate st...

Corrected authors’ contributions MN made substantial contributions to conception and design, acquisition of data, analysis and interpretation of data, and drafted the manuscript. DA made substantial contributions to conception and design, acquisition of data, analysis and interpretation of data. MC made substantial contributions to the inception of the study, revision of the manuscript, and is ...

The UCT Surgical Society, Africa's only student surgical society, is a student-managed academic society that promotes undergraduate interest in the field of surgery at the University of Cape Town. With over 700 members in 2009, it is one of the largest student surgical societies in the world. This article describes the origins, aims and objectives of the Society, and outlines a framework that s...