Taking It to the Limit: Effects of Increased Student Loan Availability on Attainment, Earnings, and Financial Well-Being

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dc.contributor.authorBlack, Sandra E.en
dc.contributor.authorDenning, Jeffrey T.en
dc.contributor.authorDettling, Lisa J.en
dc.contributor.authorGoodman, Sarenaen
dc.contributor.authorTurner, Lesley J.en
dc.date.accessed2020-09-09en
dc.date.accessioned2020-10-14T20:07:48Zen
dc.date.available2020-10-14T20:07:48Zen
dc.date.issued2020-08-01en
dc.description.abstractGrowing reliance on student loans and repayment difficulties have raised concerns of a student debt crisis in the United States. However, little is known about the effects of student borrowing on human capital and long-run financial well-being. The authors use variation induced by recent expansions in federal loan limits, together with administrative schooling, earnings, and credit records, to identify the effects of increased student borrowing on credit-constrained students’ educational attainment, earnings, debt, and loan repayment. Increased student loan availability raises student debt and improves degree completion, later-life earnings, and student loan repayment while having no effect on homeownership or other types of debt.en
dc.description.sponsorshipAnnenberg Institute at Brown Universityen
dc.format.mimetypeapplication/pdfen
dc.identifier.sourceurlhttps://edworkingpapers.com/sites/default/files/ai20-273.pdfen
dc.identifier.urihttp://hdl.handle.net/10919/100563en
dc.language.isoenen
dc.publisherAnnenberg Institute at Brown Universityen
dc.relation.ispartofseriesEdWorkingPaper; 20-273en
dc.rightsCreative Commons Attribution-NonCommercial-NoDerivs 3.0en
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/en
dc.subjecteducational attainmenten
dc.subjectstudent debten
dc.subjectstudent loanen
dc.titleTaking It to the Limit: Effects of Increased Student Loan Availability on Attainment, Earnings, and Financial Well-Beingen
dc.typeArticleen
dc.type.dcmitypeTexten
dc.type.dcmitypeStillImageen
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Higher Education Policy for Minorities in the United States