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Are Student Loan Defaults Cyclical? It Depends

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Abstract

This post is the second in a two-part series on student loan default behavior. In the first post, we studied how educational characteristics (school type and selectivity, graduation, and major) and family background relate to the incidence of student loan default. In this post, we investigate whether default behavior has varied across cohorts of borrowers as the labor market evolved over time. Specifically, does the ability of student loan holders to repay their loans vary with the state of the labor market? Does the type of education these students received make any difference to this relationship?

Suggested Citation

  • Rajashri Chakrabarti & Nicole Gorton & Michelle Jiang & Wilbert Van der Klaauw, 2017. "Are Student Loan Defaults Cyclical? It Depends," Liberty Street Economics 20171122, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87227
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    More about this item

    Keywords

    recession; student loans; Default; for-profits;
    All these keywords.

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • J00 - Labor and Demographic Economics - - General - - - General

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