Data and Code for: Taking It to the Limit: Effects of Increased Student Loan Availability on Attainment, Earnings, and Financial Well-Being

Principal Investigator(s):  View help for Principal Investigator(s) Sandra Black, Columbia University; Jeffrey Denning, University of Notre Dame; Lisa Dettling, Board of Governors of the Federal Reserve System; Sarena Goodman, Board of Governors of the Federal Reserve System; Lesley Turner, University of Chicago. Harris School of Public Policy

Version:  View help for Version V1

Name File Type Size Last Modified
  CCP 09/05/2023 09:24:AM
  Texas 09/05/2023 09:24:AM
README.pdf application/pdf 377.9 KB 09/19/2023 10:43:AM

Project Description

Summary:  View help for Summary Growing reliance on student loans and repayment difficulties have raised concerns of a student debt crisis in the United States, but 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 combined with administrative datasets to identify the effects of increased access to student loans 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.

Scope of Project

Subject Terms:  View help for Subject Terms student loans; credit constraints
JEL Classification:  View help for JEL Classification
      I20 Education and Research Institutions: General
      I21 Analysis of Education
      I22 Educational Finance; Financial Aid


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Published Versions

V1 [2023-11-22]

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