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Student Debt and Labor Market Outcomes

Author

Listed:
  • Gerald Eric Daniels Jr.
  • Andria Smythe

Abstract

We study the impact of student debt on various labor market outcomes, namely, income, hourly wages, and hours worked. Using the NLSY97 and a difference-in-difference approach, we find statistically significant differences in labor market outcomes for individuals who received a student loan versus those who received no student loan. We find that the difference in post- versus pre-college income is 8-9 percent higher for individuals that received a student loan relative to individuals who received no student loan. Further, we find evidence that this higher income is due to higher work hours.

Suggested Citation

  • Gerald Eric Daniels Jr. & Andria Smythe, 2019. "Student Debt and Labor Market Outcomes," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 171-175, May.
  • Handle: RePEc:aea:apandp:v:109:y:2019:p:171-75
    Note: DOI: 10.1257/pandp.20191087
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    File URL: https://www.aeaweb.org/doi/10.1257/pandp.20191087
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    Citations

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    Cited by:

    1. Chulwoo Park & Eric Coles, 2022. "The Impact of Student Debt on Career Choices among Doctor of Public Health Graduates in the United States: A Descriptive Analysis," IJERPH, MDPI, vol. 19(8), pages 1-13, April.

    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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