A factor that complicates the posting of the journal entries related to the issue of bonds is that the amount of money received by the issuing company may be different from the face value of the bond. If the bond stated rate is higher than the market interest rate at the time of issue of the bond, the company can sell the bond at a premium; on the…

Background: Nearly two decades have passed since the last successful reauthorization of the Higher Education Act. Since then, student loan debt and the accumulation patterns based on race have become a pressing issue to address in U.S. society. Purpose: Student debt is one of the key issues on the federal higher education policy agenda. The…

We update Collier et al. (2021) by using the Survey of Consumer Finances (SCF) 2019 dataset to explore characteristics of enrollees in Income-Driven Repayment (IDR). SCF 2019 is more likely to include borrowers engaged in REPAYE. Findings support an ongoing need to encourage greater IDR participation for lowest-income borrowers and reinforced…

When a college closes, it can derail the education of many students, leaving them with loans but no degree. Those who cannot complete their education may be eligible to have their federal student loans forgiven through a "closed school discharge" from the Department of Education (Education), but this process has changed in recent years.…

Most public colleges and universities rely heavily on state financial support. As state budgets have tightened in recent decades, appropriations for higher education have declined substantially. Despite concerns expressed by policymakers and scholars that the declines in state support have reduced the return to education investment for public…

Students increasingly borrow money to attend postsecondary education. Yet, little attention in the literature has been paid to the repayment of student loans, aside from failure indicators like default. This study examines a nationally representative sample of bachelor's degree recipients and the time it takes to reach different repayment…

Today, approximately 43 million Americans hold a federal student loan. When these borrowers fall behind on payments, they become delinquent on their loans; once the loans reach 270 days past due, borrowers are in default. As of March 2021, roughly 1 in 5 borrowers was in default, according to data from the U.S. Department of Education. Failing to…

England's higher education funding system has been reformed many times, leading to a system based on high fees and loans. Undergraduate tuition fees for full-time students were introduced in 1998 and rose to £3,000 a year in 2006, increasing further to £9,000 in 2021. Through a series of in-depth interviews, this report from Professor Claire…

Stranded credit is credit that students have earned at a postsecondary institution, but cannot use or transfer because they have unpaid debts at the institution. Institutions will usually not issue official transcripts to students with debt, which results in the student being unable to formally document the credits they have acquired. This can…

This paper examines the feasibility of an income-contingent loan system to finance tertiary education in Indonesia. Using graduates' income data from the 2015 National Labor Force Survey, we modeled the life-cycle income distribution of university graduates using unconditional quantile regression. We used these estimates to simulate different…

The objective of this audit was to determine whether Federal Student Aid (FSA) ensured that: (1) its total and permanent disability (TPD) discharge process operated in accordance with Federal program requirements; and (2) accurate information on student loan discharges was entered into FSA's system of records. The audit covered TPD accounts that…

This study took the student aid data of a normal university in northern Jiangsu Province in 2018 as the object of study, and studied the characteristics of student aid work in local colleges. Through the analysis of the data, it is found that the characteristics of student aid in local undergraduate colleges and universities in China are as…

Government backed income contingent student loans are an increasingly being used to fund higher education. An income contingent repayment plan acts as an incremental marginal tax on labor earnings, which could cause individuals to distort their work effort. This paper uses an administrative dataset from the UK that links student loan borrowers…

Finding funds to build and renovate facilities is a major hurdle for public charter schools because most state laws do not provide charter schools with the full amount of state and local funding that other public schools receive. Although an increasing number of states are passing laws to address charter school facility funding gaps, inequities…

For the past 14 years, Sallie Mae's "How America Pays for College" report has surveyed college students and parents of undergraduate students about their attitudes toward higher education and how they are paying for it. The research examines families' attitudes toward the value of a college education, as well as their key considerations…