The federal government is the lender for the current student loan system, but replacing it with a system that harnesses the advantages of a marketplace of private lending would save $212 billion over the next 10 years while also benefiting students by helping them avoid risky educational choices. Due to ongoing court cases and upcoming regulatory…

The Free Application for Federal Student Aid (FAFSA) Simplification Act made several changes to the FAFSA, including changing the formula for determining student financial assistance need and simplifying the application. The rollout of the redesigned 2024-2025 FAFSA application encountered issues that affected students' ability to apply for aid.…

For workers employed in the public and nonprofit sectors, the Public Service Loan Forgiveness (PSLF) program offers the potential for full forgiveness of federal student loans for those with 10 years of full-time work experience. A year-long waiver issued by the Department of Education in 2021 to address administrative problems in program access…

Transfer pathways are commonly associated with cost savings to students within the policy world. However, few have ventured to empirically examine whether traveling transfer pathways result in savings for students. Through this article, we report on analyses of this topic drawing on a custom linkage between Toronto District School Board,…

The Biden administration is implementing a new income-driven repayment (IDR) plan for federal student loans called Saving on a Valuable Education (SAVE). The SAVE plan adds to existing IDR plans and reduces borrowers' monthly payments and shortens the time certain borrowers must repay before their debts are forgiven compared with current options.…

This paper analyses potential links between extreme optimism and student loan debt. Prior work finds extreme optimism to be associated with imprudent household savings and investment decisions. This paper explores whether these findings are relevant to student loan decisions. Using the most recent administration of the Survey of Consumer Finances…

Student-loan horror stories are a dime a dozen. But students today are faced with a seemingly insurmountable paradox: Research consistently shows that the clearest viable option to financial stability is a college degree. But if and when Americans decide to pursue diplomas, student loan payments quickly follow, and even after securing full-time…

We explore how much borrowers value student debt relief, in the setting of the federal Teacher Loan Forgiveness (TLF) program, and further document whether information and eligibility for this program affect teacher employment decisions. The program cancels between $5,000 and $17,500 in debt for teachers who remain employed in a high-need school…

A great deal has changed since March 2020, when executive and Congressional action paused payments on most federal student loans. Yet, following nine extensions, the payment pause on student loans remains in place at an approximate direct cost of $5 billion per month. The Biden Administration also has moved to end some repayments altogether, by…

Florida College System (FCS) institutions are among the nation's best public colleges. They provide open access to higher education and provide the primary access point to undergraduate education for many Floridians, including recent high school graduates and returning adult students. The 28 member colleges respond quickly and efficiently to meet…

Representative Virginia Foxx (R-NC) introduced the College Cost Reduction Act (CCRA) in the 118th Congress. The act introduced a set of proposed changes to federal higher education policy, including new annual and aggregate limits on federal lending. Some stakeholders have speculated that the Republican majority in the 119th Congress might advance…

West Virginia's three state-funded medical schools enroll more medical students per capita than any other state in the country. Due to its large number of medical student slots, the state typically can offer all qualified West Virginians the opportunity to complete their medical education in the state. In the academic year of 2023-2024, 27 percent…

Obtaining a college degree is positively correlated with gains in socioeconomic mobility. However, college is expensive. Given the importance of college in increasing social mobility, lawmakers have proposed eliminating student debt. Joe Biden, for example, has incorporated eliminating student debt into his presidential campaign promise. While…

Utilizing the concept of resilience, this paper examines the attainment of bachelor's degrees or higher by Black Americans in 2012 and 2022. In 2012, 3.668 million Black Americans aged 18 and over had at least a bachelor's degree, with women accounting for 58.5% and men accounting for 41.5 percent. In 2022, that figure increased to 5.547 million…

From AI tutors who ensure individualized instruction but cannot do math to free online courses from elite universities that were supposed to democratize higher education, claims that technological innovations will transform education often fall short. Yet, as Anne Trumbore shows in "The Teacher in the Machine," the promises of today's…