Loans for Educational Opportunity: Making Borrowing Work for Today’s Students
| dc.contributor.author | Dynarski, Susan M. | en |
| dc.contributor.author | Kreisman, Daniel | en |
| dc.date.accessed | 2019-06-06 | en |
| dc.date.accessioned | 2019-07-02T17:07:08Z | en |
| dc.date.available | 2019-07-02T17:07:08Z | en |
| dc.date.issued | 2013-10-01 | en |
| dc.description.abstract | In this article the authors propose a better model of loan repayment. A single, simple, income-based repayment system called Loans for Educational Opportunity (LEO) will replace the current, bewildering array of repayment options. Student-loan payments will automatically rise and fall with a borrower’s earnings, just as contributions to Social Security rise and fall. A fraction of earnings will be deducted from each paycheck, with a larger fraction taken when incomes are high and a smaller fraction when incomes are low. This is a system of loan repayment designed for the 98 percent of students who borrow a manageable amount. For the other 2 percent, the authors propose stronger consumer protection: private student loans will not survive bankruptcy, loans that need a credit check will not be marketed as “student loans,” and individuals will exhaust all federal student loans before being allowed to take out any private loans. | en |
| dc.description.sponsorship | The Hamilton Project | en |
| dc.format.mimetype | application/pdf | en |
| dc.identifier.sourceurl | http://www.hamiltonproject.org/assets/legacy/files/downloads_and_links/THP_DynarskiDiscPaper_Final.pdf | en |
| dc.identifier.uri | http://hdl.handle.net/10919/90841 | en |
| dc.language.iso | en | en |
| dc.publisher | The Hamilton Project | en |
| dc.rights | Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International | en |
| dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/ | en |
| dc.subject | student loans | en |
| dc.subject | student financial aid | en |
| dc.subject | education, higher--government policy | en |
| dc.title | Loans for Educational Opportunity: Making Borrowing Work for Today’s Students | en |
| dc.type | Article | en |
| dc.type.dcmitype | Text | en |
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