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…

Private loans are one of the riskiest ways to finance a college education. Like credit cards, these bank- and lender-originated loans typically have variable interest rates, and these rates are often higher for those who can least afford them. Private loans are not eligible for critical protections and supports that are afforded to federal student…

Over the past 30 years, a shift occurred in higher education that saw more of the burden for paying for postsecondary education placed on students. Combined with rising tuition and fees, this has led students to take on increasing amounts of student debt. Despite the historic rise in student loans, surprisingly little attention has focused on…

Student debt has exploded over the past several decades, rising to over $1.7 trillion. Federal student loans represent over 90% of student loan balances, with private financing making up the remainder. Research has shown that the negative impact of student debt has not been distributed equally across different demographics, with Black borrowers…

Outstanding Higher Education Act (HEA) Title IV federal student loan debt exceeds $1.6 trillion and is owed by about 45 million borrowers. In August 2022, the Biden Administration announced it would invoke the Higher Education Relief Opportunities for Students Act of 2003 (HEROES Act) to cancel, on a one-time basis, up to $20,000 in qualifying…

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…

The unwillingness of the Somali community to finance higher education has largely gone unnoticed within the academic literature and government policy documents. This study explores the role of religion and the influence of Shari'ah scholars on the use of interest-bearing student loans within the Somali community. In the absence of any theoretical…

Given the prevalence of transfer activity, education stakeholders must understand how transfer may be associated with student outcomes. Such knowledge is critical, as the COVID-19 pandemic and economic downturn have impacted college enrollment and student transfer behavior. Relying on a sample of 6510 undergraduate students from BPS:12/17 data, we…

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…

The purpose of this dissertation was to understand the financial aid personnel's perspective on the impacts of middle-income student loan borrowing. Student loan borrowing is a concern for many due to the current debt reaching extraordinary amounts. This research explored the impacts specifically on middle-income students as opposed to low- or…

The goal of this study is to compare the likelihood of student loan default by students from a Midwest public university amongst a variety of variables. A dataset was acquired from an institution in the Midwest. A logistic regression was run to determine the predictive value of several identifiers on student loan default amongst several race…

Federal student loans are an important resource to help millions of individuals pay for higher education. As of March 2024, the Department of Education held $1.5 trillion in outstanding William D. Ford Federal Direct Loans and Federal Family Education Loans for nearly 45 million borrowers. In March 2020, in response to the COVID-19 pandemic,…

This study considers whether dual enrollment is associated with students' financial outcomes over a longer, twelve-year time horizon after high school graduation than previously analyzed in the existing literature. Using longitudinal administrative data that span K-12, higher education, and the workforce, we conduct a propensity score analysis to…

The Public Health Service Act (PHSA, 42 U.S.C. §§201 et. seq.) authorizes five student loan programs administered by the Department of Health and Human Services (HHS) through the Health Resources and Services Administration (HRSA): (1) Health Professions Student Loans; (2) Loans for Disadvantaged Students; (3) Primary Care Loans; (4) Nursing…

We study supply-side responses to student financial aid, focusing on how tuition responds to the targeting of aid. Our framework identifies two mechanisms: a direct effect, which raises tuition, and a composition effect, which can lower tuition if aid targets price-sensitive students. Leveraging a reform in Brazil's student loan program, we…