Browsing by Author "Looney, Adam"
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- The Consequences of Student Loan Credit Expansions: Evidence From Three Decades of Default CyclesLooney, Adam; Yannelis, Constantine (The Brookings Institution, 2019-07-02)This paper studies the link between credit availability and student loan repayment using administrative federal student loan data. The authors demonstrate that expansions and contractions in federal student loan credit to institutions with high default rates explain most of the time series variation in student loan defaults between 1980 and 2010.
- The consequences of student loan credit expansions: Evidence from three decades of default cyclesLooney, Adam; Yannelis, Constantine (The Brookings Institute, 2019-06-01)This paper studies the link between credit availability and student loan repayment using administrative federal student loan data. The authors demonstrate that expansions and contractions in federal student loan credit to institutions with high default rates explain most of the time series variation in student loan defaults between 1980 and 2010. Expansions in loan eligibility between 1976 and 1988 led to the entry of new, high-risk institutions, and default rates exceeding 30 percent in the late 1980s. Credit access was subsequently tightened through strict institutional and student accountability measures.
- A Crisis in Student Loans? How Changes in the Characteristics of Borrowers and in the Institutions They Attended Contributed to Rising Loan DefaultsLooney, Adam; Yannelis, Constantine (The Brookings Institution, 2015)In this article, the authors examine the rise in student loan delinquency and default, drawing on newly available U.S. Department of Education administrative data on federal student borrowing linked to earnings records derived from tax records.
- New Approaches to Promoting College Access for More AmericansGreenstone, Michael; Looney, Adam (The Brookings Institution, 2013-06-21)For most of its history, America has been a nation of opportunity where even those born into the least well-off families can improve their circumstances. As income inequality continues to grow in the United States, however, many are concerned that widening differences in economic opportunities across households are creating barriers to upward social mobility. Education has often served as a path to better economic outcomes and new evidence identifies promising ways to help lower-income students improve their educational opportunities. These policies vary in size and scope, and differ dramatically in cost. In this article, the authors provide insights about new low-cost interventions that target high-achieving, low-income students may offer a game-changing approach that not only increases enrollment rates among these students, but does so at better schools that provide a better foundation for upward mobility.
- A Risk-Sharing Proposal for Student LoansChou, Tiffany; Looney, Adam; Watson, Tara (The Hamilton Project, 2017-04-01)Many borrowers have difficulty repaying their federal student loans, particularly at certain institutions. This article proposes an institutional accountability system that is intended to help align incentives of institutions with their student loan borrowers and taxpayers. Under the risk-sharing proposal, institutions with poor loan performance reimburse the federal loan program for a fraction of unrepaid loan dollars. In particular, the article uses a robust and hard-to-manipulate repayment rate—the amount each institution’s students have repaid after five years—to set minimum thresholds below which institutions would have to contribute. Recovered funds could be used to provide support to institutions that serve low-income students well.
- Thirteen Economic Facts about Social Mobility and the Role of EducationGreenstone, Michael; Looney, Adam; Patashnik, Jeremy; Yu, Muxin (The Hamilton Project, 2013-06-25)This Hamilton Project policy memo provides thirteen economic facts on the growth of income inequality and its relationship to social mobility in America; on the growing divide in educational opportunities and outcomes for high- and low-income students; and on the pivotal role education can play in increasing the ability of low-income Americans to move up the income ladder.