TY  - JOUR
AB  - Growing reliance on student loans and repayment difficulties have raised concerns of a student debt crisis in the United States. However, little is known about the effects of student borrowing on human capital and long-run financial well-being. We use variation induced by recent expansions in federal loan limits, together with administrative schooling, earnings, and credit records, to identify the effects of increased student borrowing on credit-constrained students’ educational attainment, earnings, debt, and loan repayment. Increased student loan availability raises student debt and improves degree completion, later-life earnings, and student loan repayment while having no effect on homeownership or other types of debt.
AU  - Black, Sandra E.
AU  - Denning, Jeffrey T.
AU  - Dettling, Lisa J.
AU  - Goodman, Sarena
AU  - Turner, Lesley J.
DA  - August 2020
DO  - 10.26300/2np6-xq05
PY  - 2020
ST  - Taking It to the Limit: Effects of Increased Student Loan Availability on Attainment, Earnings, and Financial Well-Being
T2  - EdWorkingPapers.com
TI  - Taking It to the Limit: Effects of Increased Student Loan Availability on Attainment, Earnings, and Financial Well-Being
UR  - https://www.edworkingpapers.com/ai20-273
ID  - 247
ER  -