Repayment Burdens with US College Loans
There is a significant and on-going unease with, and debate concerning, the state of US college loans. One of the most important questions relates to so-called “repayment burdens”, the financial difficulties associated with repayments. This paper examines the issue from both theoretical and empirical perspectives, the major goal being to understand the interaction between loan design and occupational choices. We find compelling original evidence that the design of US loans imposes severe expected hardships for many borrowers, especially those with very high debts, such as lawyers. The case for policy reform towards graduates’ capacity to repay seems incontestable.
|Date of creation:||Nov 2010|
|Contact details of provider:|| Postal: +61 2 6125 3807|
Phone: +61 2 6125 3807
Fax: +61 2 6125 0744
Web page: http://rse.anu.edu.au/cepr.php
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Chapman, Bruce & Lounkaew, Kiatanantha & Polsiri, Piruna & Sarachitti, Rangsit & Sitthipongpanich, Thitima, 2010. "Thailand's Student Loans Fund: Interest rate subsidies and repayment burdens," Economics of Education Review, Elsevier, vol. 29(5), pages 685-694, October.
- Chapman, Bruce & Lounkaew, Kiatanantha, 2010.
"Income contingent student loans for Thailand: Alternatives compared,"
Economics of Education Review,
Elsevier, vol. 29(5), pages 695-709, October.
- Bruce Chapman & Kiatanantha Lounkaew, 2008. "Income Contingent Student Loans for Thailand : Alternatives Compared," EABER Working Papers 21950, East Asian Bureau of Economic Research.
- Bruce Chapman & Kiatanantha Lounkaew, 2009. "Income Contingent Student Loans for Thailand: Alternatives Compared," CEPR Discussion Papers 595, Centre for Economic Policy Research, Research School of Economics, Australian National University.
- Rothstein, Jesse & Rouse, Cecilia Elena, 2011. "Constrained after college: Student loans and early-career occupational choices," Journal of Public Economics, Elsevier, vol. 95(1), pages 149-163.
- Rothstein, Jesse & Rouse, Cecilia Elena, 2011. "Constrained after college: Student loans and early-career occupational choices," Journal of Public Economics, Elsevier, vol. 95(1-2), pages 149-163, February.
- Jesse Rothstein & Cecilia Elena Rouse, 2007. "Constrained After College: Student Loans and Early Career Occupational Choices," NBER Working Papers 13117, National Bureau of Economic Research, Inc.
- Jesse Rothstein & Cecilia Elena Rouse, 2007. "Constrained After College: Student Loans and Early Career Occupational Choices," Working Papers 18, Princeton University, Woodrow Wilson School of Public and International Affairs, Education Research Section..
- Nicholas Barr, 2003. "Financing higher education: lessons from the UK debate," LSE Research Online Documents on Economics 287, London School of Economics and Political Science, LSE Library.
- Joop Hartog & Luis Díaz-Serrano, 2007. "Earnings risk and demand for higher education: A cross-section test for Spain," Journal of Applied Economics, Universidad del CEMA, vol. 10, pages 1-28, May.
- Hartog, Joop & Diaz-Serrano, Luis, 2002. "Earnings Risk and Demand for Higher Education: A Cross-Section Test for Spain," IZA Discussion Papers 641, Institute for the Study of Labor (IZA).
- Joop Hartog & Luis Diaz-Serrano, 2004. "Earnings Risk And Demand For Higher Education: A Cross-Section Test For Spain," Economics, Finance and Accounting Department Working Paper Series n1370804, Department of Economics, Finance and Accounting, National University of Ireland - Maynooth.
- Migali, Giuseppe, 2012. "Funding higher education and wage uncertainty: Income contingent loan versus mortgage loan," Economics of Education Review, Elsevier, vol. 31(6), pages 871-889.
- Migali, Giuseppe, 2006. "Funding Higher Education and Wage Uncertainty : Income Contingent Loan versus Mortgage Loan," The Warwick Economics Research Paper Series (TWERPS) 775, University of Warwick, Department of Economics.
- G Migali, 2011. "Funding Higher Education and Wage Uncertainty: Income Contingent Loan versus Mortgage Loan," Working Papers 609506, Lancaster University Management School, Economics Department.
- McDonald, James B, 1984. "Some Generalized Functions for the Size Distribution of Income," Econometrica, Econometric Society, vol. 52(3), pages 647-663, May.
- Lawrance, Emily C, 1995. "Consumer Default and the Life Cycle Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 939-954, November.
- Schwartz, S. & Finnie, R., 2002. "Student loans in Canada: an analysis of borrowing and repayment," Economics of Education Review, Elsevier, vol. 21(5), pages 497-512, October. Full references (including those not matched with items on IDEAS)