This study employs data from the National Center for Education Statistics' (NCES) Baccalaureate and Beyond Surveys to compare financial well-being among college graduates with varying social characteristics and levels of student debt. We use logistic regression to answer three questions: 1) To what extent does the amount of debt at graduation…

We examined patterns and sociodemographic correlates of financial characteristics and behaviors among emerging and young (18-34-year-old) student loan borrowers. Employing latent class regression modeling on a subset of the 2018 National Financial Capability Study (N=1,490), we explored a heterogeneous constellation of patterns in these borrowers'…

The Higher Education Act of 1965, as amended, specifies a loan origination fee of 1 percent for all Direct Subsidized Loans and Direct Unsubsidized Loans, and a fee of 4 percent for all Direct PLUS Loans for both parent borrowers and graduate and professional student borrowers. Student loan origination fees generated a staggering $1.7 billion in…

This document records testimony from a hearing before the Committee on Education and Labor that was held to examine the Department of Education's implementation of Borrower Defense. Member statements were provided by: (1) Honorable Robert Scott, Chairman, Committee on Education and Labor; and (2) Honorable Virginia Foxx, Ranking Member, Committee…

The Parent PLUS loan covers the financial gap of a student's educational expenses after other forms of financial assistance. Depending on the unmet need, the PLUS loan amount borrowed can be tens of thousands of dollars for a single academic year. In this research article, I provide results from evaluating financial aid offers at Missouri public,…

In July 2025, President Trump signed the Republican-led H.R. 1, the "One Big Beautiful Bill" (OBBB) into law. The new law is a sweeping tax and spending package that forgoes trillions in federal revenues to award tax cuts to the wealthy while stripping essential care and protections from women and families. While implementation of the…

Choosing a college is one of the most important decisions families face, and today's landscape makes that choice more complex than ever. Families juggle various priorities, from affordability and academic fit to campus culture and financial aid, to find the right path for their students. This report derives fresh insights from nearly 10,000…

Title IV of the Higher Education Act of 1965 (HEA; P.L. 89-329, as amended) authorizes the operation of three federal student loan programs: the William D. Ford Federal Direct Loan (Direct Loan) program, the Federal Family Education Loan (FFEL) program, and the Federal Perkins Loan program. While new loans are currently authorized to be made only…

Drawing on data from the Beginning Postsecondary Students Longitudinal Study (BPS:04/09) and the Postsecondary Education Transcript Study (PETS), this study examined the risks associated with losing credits in the process of transferring between colleges. The effects of credit loss are considered on the timing of degree completion and student loan…

During the 118th Congress, the House Committee on Education and the Workforce marked up and ordered reported the College Cost Reduction Act (CCRA; H.R. 6951). Most of the bill's provisions would amend the Higher Education Act of 1965 (HEA; P.L. 89-329, as amended), though it is not a comprehensive reauthorization of the HEA. Nevertheless, the bill…

The Teacher Education Assistance for College and Higher Education (TEACH) Grant program provides grants to students who are completing or plan to complete the coursework required to begin a career in teaching. As a condition for receiving a TEACH Grant, a recipient must teach for at least four years in a high-need field at an elementary or…

Funding public higher education has long been a shared responsibility between state, local, and federal governments and students and their families (Laderman et al., 2023). While state and local governments fund public institutions directly, the federal government primarily funds higher education through portable student aid, including federal…

This paper investigates the possible opportunity cost of using standard college savings plans against the advantages of using debt to pay for college. In addition, it presents a practical argument for using debt in place of college savings plans in certain instances. By doing so, investors may not only be able to mitigate the difficulty of saving,…

Student loan debt is the second highest consumer debt type in the United States, second only to mortgage debt (Federal Reserve Bank of New York, 2020). With an average federal loan balance of $32,300 in FY2020, it is estimated that 42.5 million borrowers owe a total of $1.4 trillion in student loan debt. As of March 2020, 19% of borrowers were in…

This report examines how enrolled undergraduate students and parents of undergraduates view higher education and how they pay for it. The report considers education funding sources--from parent and student income and savings to scholarships, grants, and borrowed funds--and evaluates trends in payment strategies over time. This 18th edition builds…