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Default and Repayment Among Baccalaureate Degree Earners

  • Lance J. Lochner
  • Alexander Monge-Naranjo

More than low default rates, lenders are interested in the expected return on their loans. In this paper, we consider a number of other measures of repayment and nonpayment that are likely to be of direct interest to lenders. Using data from the Baccalaureate and Beyond Longitudinal Study, we document repayment and nonpayment outcomes 10 years after graduation for American students receiving BA/BS degrees in 1993. We estimate differences in these outcomes across individual/family background characteristics, college major, type of institution, the amount borrowed, and post-graduation income. A key contribution is our analysis of the following outcomes in addition to student loan default rates: the fraction of the original undergraduate loan amount repaid as of 2003, nonpayment rates (including deferment and forbearance as well as default), and the fraction of original undergraduate loan amounts on which borrowers defaulted or are currently not repaying.

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File URL: http://www.nber.org/papers/w19882.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 19882.

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Date of creation: Feb 2014
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Handle: RePEc:nbr:nberwo:19882
Note: ED LS PE
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  1. David J. Deming & Claudia Goldin & Lawrence F. Katz, 2011. "The For-Profit Postsecondary School Sector: Nimble Critters or Agile Predators?," NBER Working Papers 17710, National Bureau of Economic Research, Inc.
  2. Dynarski, Mark, 1994. "Who defaults on student loans? Findings from the National Postsecondary Student Aid Study," Economics of Education Review, Elsevier, vol. 13(1), pages 55-68, March.
  3. Robert Barsky & John Bound & Kerwin Charles & Joseph Lupton, 2001. "Accounting for the Black-White Wealth Gap: A Nonparametric Approach," NBER Working Papers 8466, National Bureau of Economic Research, Inc.
  4. 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.
  5. Lance Lochner & Todd Stinebrickner & Utku Suleymanoglu, 2013. "The Importance of Financial Resources for Student Loan Repayment," NBER Working Papers 19716, National Bureau of Economic Research, Inc.
  6. repec:hka:wpaper:2013-20 is not listed on IDEAS
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