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Displaying results 1 to 10 of 10.

  1. Consequences of student loan credit expansions
    evidence from three decades of default cycles
    Author: Looney, Adam; Yannelis, Constantine
    Published: July 2019
    Publisher:  Research Department, Federal Reserve Bank of Philadelphia, Philadelphia, PA

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 438
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working paper / Research Department, Federal Reserve Bank of Philadelphia ; 19, 32 (July 2019)
    Subjects: student loans; credit expansion; human capital; loan default
    Scope: 1 Online-Ressource (circa 90 Seiten), Illustrationen
  2. Debt moratoria
    evidence from student loan forbearance
    Author: Dinerstein, Michael; Yannelis, Constantine; Chen, Ching-Tse
    Published: May 2023
    Publisher:  CESifo, Munich, Germany

    We evaluate the effects of the 2020 student debt moratorium that paused payments for student loan borrowers. Using administrative credit panel data, we show that the payment pause led to a sharp drop in student loan payments and delinquencies for... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 63
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    We evaluate the effects of the 2020 student debt moratorium that paused payments for student loan borrowers. Using administrative credit panel data, we show that the payment pause led to a sharp drop in student loan payments and delinquencies for borrowers subject to the debt moratorium, as well as an increase in credit scores. We find a large stimulus effect, as borrowers substitute increased private debt for paused public debt. Comparing borrowers whose loans were frozen with borrowers whose loans were not frozen due to differences in whether the government owned the loans, we show that borrowers used the new liquidity to increase borrowing on credit cards, mortgages, and auto loans rather than avoid delinquencies. The effects are concentrated among borrowers without prior delinquencies, who saw no change in credit scores, and we see little effects following student loan forgiveness announcements. The results highlight an important complementarity between liquidity and credit, as liquidity increases the demand for credit even as the supply of credit is fixed.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/279171
    Series: CESifo working papers ; 10422 (2023)
    Subjects: Studienfinanzierung; Kredit; Private Verschuldung; Kredittilgung; Studierende; USA; debt moratoria; student loans
    Scope: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  3. Not cashing in on cashing out
    an analysis of low cash-out refinance rates
    Author: Hossain, Mallick; Livshits, Igor; Wardius, Collin
    Published: [2023]
    Publisher:  Research Department, Federal Reserve Bank of Philadelphia, Philadelphia, PA

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 438
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Working papers / Research Department, Federal Reserve Bank of Philadelphia ; 23, 04 (March 2023)
    Subjects: mortgage refinancing; cash-out refinancing; student loans; cash-out sur-charge; household finance
    Scope: 1 Online-Ressource (circa 23 Seiten), Illustrationen
  4. Boomerang college kids
    unemployment, job mismatch and coresidence
    Author: Albanesi, Stefania; Gihleb, Rania; Zhang, Ning
    Published: August 2022
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    Labor market outcomes for young college graduates have deteriorated substantially in the last twenty five years, and more of them are residing with their parents. The unemployment rate at 23-27 years old for the 1996 college graduation cohort was 9%,... more

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    Labor market outcomes for young college graduates have deteriorated substantially in the last twenty five years, and more of them are residing with their parents. The unemployment rate at 23-27 years old for the 1996 college graduation cohort was 9%, whereas it rose to 12% for the 2013 graduation cohort. While only 25% of the 1996 cohort lived with their parents, 31% for the 2013 cohort chose this option. Our hypothesis is that the declining availability of 'matched jobs' that require a college degree is a key factor behind these developments. Using a structurally estimated model of child-parent decisions, in which coresidence improves college graduates' quality of job matches, we find that lower matched job arrival rates explain two thirds of the rise in unemployment and coresidence between the 2013 and 1996 graduation cohorts. Rising wage dispersion is also important for the increase in unemployment, while declining parental income, rising student loan balances and higher rental costs only play a marginal role.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/265728
    Series: Discussion paper series / IZA ; no. 15507
    Subjects: coresidence; job mismatch; unemployment; student loans
    Scope: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  5. Financing higher education in England
    the fiscal implications of reform
    Author: Hantzsche, Arno; Young, Garry
    Published: August 2022
    Publisher:  National Institute of Economic and Social Research, London

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 538
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NIESR discussion paper ; no. 539 (12 August 2022)
    Subjects: higher education; student loans; graduate tax; Augar Review
    Scope: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  6. Assessing the relative progressivity of the Biden administration's federal student loan forgiveness proposal
    Author: Goss, Jacob; Mangrum, Daniel; Scally, Joelle
    Published: [2023]
    Publisher:  Federal Reserve Bank of New York, New York, NY

    We quantify the total stock of balances eligible for the 2022 federal student loan forgiveness policy and explore which groups benefit most. Roughly $441 billion in balances are eligible for forgiveness, which would leave almost 40 percent of federal... more

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    DS 207
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    We quantify the total stock of balances eligible for the 2022 federal student loan forgiveness policy and explore which groups benefit most. Roughly $441 billion in balances are eligible for forgiveness, which would leave almost 40 percent of federal borrowers with no remaining balance. The borrowers who benefit most, as measured by the ratio of forgiven balances to balances held, are younger, have lower credit scores, and live in lower-income neighborhoods. Compared to other salient fiscal policies, the forgiveness policy distributes less benefit to lower income ZIP codes than the Earned Income Tax Credit, but more benefit to lower income ZIP codes than the 2019 Child Tax Credit and the 2019 education tax credits for higher education. Lastly, we note a recent uptick in credit card and auto loan delinquency for student loan borrowers that may portend more widespread payment difficulties for borrowers if payments resume without relief.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/272859
    Series: Staff reports / Federal Reserve Bank of New York ; no. 1046 (January 2023)
    Subjects: student loans; debt forgiveness; COVID-19; consumer finance
    Scope: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  7. The racial wealth gap, financial aid, and college access
    Author: Levine, Phillip B.; Ritter, Dubravka
    Published: [2022]
    Publisher:  Research Department, Federal Reserve Bank of Philadelphia, Philadelphia, PA

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 438
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Working papers / Research Department, Federal Reserve Bank of Philadelphia ; 22, 32 (September 2022)
    Subjects: racial wealth gap; racial wealth inequality; consumer finance; household finance; financial aid; FAFSA; college access; student loans; student debt
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  8. Strategic default among private student loan debtors
    evidence from bankruptcy reform
    Author: Darolia, Rajeev; Ritter, Dubravka
    Published: November 2017
    Publisher:  Research Department, Federal Reserve Bank of Philadelphia, Philadelphia, PA

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Research Department, Federal Reserve Bank of Philadelphia ; no. 17, 38
    Subjects: student loans; bankruptcy; bankruptcy reform
    Scope: 1 Online-Ressource (circa 39 Seiten), Illustrationen
  9. American student loans: repayment and valuation
    Author: Guasoni, Paolo; Huang, Yu-Jui; Khalili, Saeed
    Published: [2020]
    Publisher:  Financial Mathematics and Computation Research Cluster, [Dublin]

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 749
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Michael J. Brennan Irish finance working paper series research paper ; no. 20, 11
    Subjects: student loans; repayment; valuation; loan forgiveness
    Scope: 1 Online-Ressource (circa 19 Seiten), Illustrationen
  10. Empréstimos com amortizações condicionadas à renda: cenários de financiamento de estudantes de ensino superior no Brasil
    Author: Nascimento, Paulo A. Meyer M.
    Published: abril de 2021
    Publisher:  Instituto de Pesquisa Econômica Aplicada, Brasília

    Income contingent loans (ICLs) are a financial tool that optimizes the transactional efficiencies involved in the government monopoly in taxing personal income. It protects the borrowers against periods of low income, as instalments vary according to... more

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    DS 194
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    Income contingent loans (ICLs) are a financial tool that optimizes the transactional efficiencies involved in the government monopoly in taxing personal income. It protects the borrowers against periods of low income, as instalments vary according to fluctuations in their incomes over the lifetime. For decades, ICLs have combined social protection with fiscal sustainability in financing higher education students in an increasing number of countries. This paper simulates alternative ICL designs for student financing in Brazil. Copula functions are applied to capture mobility patterns in the graduates’ earnings distribution in the Continuous PNAD in years 2014 and 2015. Hence repayment patterns are simulated for hypothetical ICL designs. Results allow the evaluation of fiscal and distributional implications related to parameters such as interest rates and repayment rates and thresholds. This is an ex-ante evaluation of an alternative for higher education student financing in Brazil given the fiscal constraints of public budgets. The best designs, in terms of affordability for graduates and size of taxpayer’s subsidies, involve ICLs with surcharges of 25% added to the initial loan amounts, interest rates at the level of government’s cost of borrowing upon graduation and above initial tax threshold, and progressive repayment rates aligned with the personal income tax brackets and equivalent to half of the respective tax rates.

     
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    Source: Union catalogues
    Language: Portuguese
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/240842
    Series: Texto para discussão / Ipea ; 2648
    Subjects: higher education; financing; Brazil; income contingent loans; student loans
    Scope: 1 Online-Ressource (circa 74 Seiten), Illustrationen