“…This study is related to the large literature on the role of financial constraints or on the lack or effectiveness of information about actual costs and future monetary returns for the college enrollment decisions (see for example, Dynarski, 2002;Dynarski and Scott-Clayton, 2006;Bettinger et al, 2012;Oreopoulos and Dunn, 2013;Wales, 2013;Bettinger and Baker, 2014;Castleman et al, 2014;Kerr et al, 2015;Wiswall and Zafar, 2015;Castleman and Long, 2016;Oreopoulos and Ford, 2016;Carrell and Sacerdote, 2017;Dynarski et al, 2018). In the German context, Peter et al (2018) and Peter and Zambre (2017) study the effects of providing information about returns and financing possibilities for college education to high school students. One key finding is that students of nonacademic background, in particular those with intentions to enroll, are more likely to pursue college education if they have received information about its benefits.…”