States and the federal government have long provided substantial financial support for higher education, but in recent years, their respective levels of contribution have shifted significantly. Given the essential role that government funding plays in higher education access and operations, policymakers across the nation frequently face difficult…

This paper examines the rise in student loan default and delinquency. It draws on a unique set of administrative data on federal student borrowing matched to earnings records from de-identified tax records. Most of the increase in default is associated with borrowers at for-profit schools, 2-year institutions, and certain other nonselective…