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Understanding Student Debt: Implications for Federal Policy and Future Research

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  • Laura W. Perna
  • James Kvaal
  • Roman Ruiz

Abstract

This article reflects on the major themes that emerge in the studies presented in this volume, concentrating on implications for federal policy and future research. We emphasize that for future federal policy to be successful, it will need to be revamped in ways that are relatively nuanced, encouraging (among other things) enrollment and persistence to degree completion among students who might not otherwise take loans or go to college, protecting taxpayers and students against investments in low-performing colleges, making federal loan programs more understandable to students who need them, and reducing the risks of student loan nonrepayment. For future research we make numerous recommendations, including calls for attention to debt aversion, income-based loan repayment, and the effects of borrowing on a broad range of student outcomes.

Suggested Citation

  • Laura W. Perna & James Kvaal & Roman Ruiz, 2017. "Understanding Student Debt: Implications for Federal Policy and Future Research," The ANNALS of the American Academy of Political and Social Science, , vol. 671(1), pages 270-286, May.
    • Handle: RePEc:sae:anname:v:671:y:2017:i:1:p:270-286
    DOI: 10.1177/0002716217704002
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    References listed on IDEAS

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    1. Beth Akers & Matthew M. Chingos, 2016. "Game of Loans: The Rhetoric and Reality of Student Debt," Economics Books, Princeton University Press, edition 1, number 10810, December.
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    3. Christopher Avery & Sarah Turner, 2012. "Student Loans: Do College Students Borrow Too Much--Or Not Enough?," Journal of Economic Perspectives, American Economic Association, vol. 26(1), pages 165-192, Winter.
    4. Michael Luca & Jonathan Smith, 2013. "Salience in Quality Disclosure: Evidence from the U.S. News College Rankings," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 22(1), pages 58-77, March.
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