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Papers on “student loan debt burden outcomes”

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1. Student Loans: Do College Students Borrow Too Much—Or Not Enough?

   Christopher Avery, Sarah Turner · 2012 · The Journal of Economic Perspectives · 393 cites

   Total student loan debt rose to over $800 billion in June 2010, overtaking total credit card debt outstanding for the first time. By the time this article sees print, the continually updated Student Loan Debt Clock will show an accumulated total of roughly $1 trillion. Borrowing to finance educational expenditures has been increasing—more than quadrupling in real dollars since the early 1990s. The sheer magnitude of these figures has led to increased public commentary on the level of student borrowing. We move the discussion of student loans away from anecdote by establishing a framework for considering the use of student loans in the optimal financing of collegiate investments. From a finan

2. Is a Household Debt Overhang Holding Back Consumption?

   Karen E. Dynan · 2012 · Brookings Papers on Economic Activity · 330 cites

   The recent plunge in U.S. home prices left many households that had borrowed voraciously during the credit boom highly leveraged, with very high levels of debt relative to the value of their assets. Analysts often assert that this “debt overhang” created a need for household deleveraging that, in turn, has been depressing consumer spending and impeding the economic recovery. This paper uses household-level data to examine this hypothesis. I find that highly leveraged homeowners had larger declines in spending between 2007 and 2009 than other homeowners, despite having smaller changes in net worth, suggesting that their leverage weighed on consumption above and beyond what would have been pre

3. A Crisis in Student Loans?: How Changes in the Characteristics of Borrowers and in the Institutions They Attended Contributed to Rising Loan Defaults

   Adam Looney, Constantine Yannelis · 2015 · Brookings Papers on Economic Activity · 282 cites

   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 institutions.Historically, students at these institutions have constituted a small share of all student borrowers.These nontraditional borrowers have largely come from lower-income families, attended institutions with relatively weak educational outcomes, faced poor labor market outcomes after leaving school, and defaulted at high rates.In contrast, default

4. Effect of medical student debt on mental health, academic performance and specialty choice: a systematic review

   Monique Simone Pisaniello, Adon Toru Asahina, Stephen Bacchi, et al. · 2019 · BMJ Open · 237 cites

   Objectives With the high and rising total cost of medical school, medical student debt is an increasing concern for medical students and graduates, with significant potential to impact the well-being of physicians and their patients. We hypothesised that medical student debt levels would be negatively correlated with mental health and academic performance, and would influence career direction (ie, medical specialty choice). Design We performed a systematic literature review to identify articles that assessed associations between medical student mental health, academic performance, specialty choice and debt. The databases PubMed, Medline, Embase, Scopus and PsycINFO were searched on 12 April

5. Debt, Cohabitation, and Marriage in Young Adulthood

   Fenaba R. Addo · 2014 · Demography · 194 cites

   Despite growing evidence that debt influences pivotal life events in early and young adulthood, the role of debt in the familial lives of young adults has received relatively little attention. Using data from the NLSY 1997 cohort (N = 6,749) and a discrete-time competing risks hazard model framework, I test whether the transition to first union is influenced by a young adult's credit card and education loan debt above and beyond traditional educational and labor market characteristics. I find that credit card debt is positively associated with cohabitation for men and women, and that women with education loan debt are more likely than women without such debt to delay marriage and transition

6. What Matters in Student Loan Default: A Review of the Research Literature

   Jacob P. K. Gross, Osman Çekiç, Don Hossler, et al. · 2010 · Journal of Student Financial Aid · 153 cites

   Federal higher education policy has shifted over the past few decades from grants to lloans as the primary means for providing access to postsecondary education for low and moderate-income families. With this shift, policy makers have begun tracking student loan default rates as a key indicator of the efficacy of student loan programs. This effort requires a closer examination of how to define default and what default signifies: What is an acceptable rate of default? What factors contribute to default? Should default rates be used as indicators of institutional quality or loan program efficacy? These questions lead to further investigation of factors influencing default, such as whether defa

7. Student Loans, Financial Stress, and College Student Retention

   Sonya L. Britt, David Allen Ammerman, Sarah F. Barrett, et al. · 2017 · Journal of Student Financial Aid · 139 cites

   This study examined a sample of 2,475 undergraduate students to determine the influence of financial stress, debt loads, and financial counseling on retention rates. Results indicate, among other findings, that financial stress contributes to an increased likelihood of discontinuing college. Self-reported student loan debt contributes to an increased likelihood of discontinuing college, although students with the highest amount of university-reported student loan debt have a decreased likelihood of discontinuing college one year later as compared to students with no student loan debt. Interestingly, in this study students who sought financial counseling were more likely to discontinue colleg

8. Black-White Disparity in Student Loan Debt More Than Triples After Graduation

   Judith Scott-Clayton, Jing Li · 2024 · VTechWorks (Virginia Tech) · 124 cites

   The moment they earn their bachelor’s degrees, black college graduates owe $7,400 more on average than their white peers ($23,400 versus $16,000, including non-borrowers in the averages). But over the next few years, the black-white debt gap more than triples to a whopping $25,000. Differences in interest accrual and graduate school borrowing lead to black graduates holding nearly $53,000 in student loan debt four years after graduation—almost twice as much as their white counterparts. While previous work has documented racial disparities in student borrowing, delinquencies, and defaults, in this report we provide new evidence that racial gaps in total debt are far larger than even recent re