We conduct a survey-based experiment with 2,776 students at a non-profit university to analyze income insurance demand in education financing. We offered students a hypothetical choice: either a federal loan with income-driven repayment or an income-share agreement (ISA), with randomized framing of downside protections. Emphasizing income…

In recent years, the Public Service Loan Forgiveness program has garnered more attention among student loan borrowers in the United States as a potential source of loan relief. However--at least prior to the PSLF Program Overhaul introduced in October 2021--arduous eligibility criteria, opaque communication on the part of the U.S. Department of…

In August 2022, the Department of Education announced that, to address the heightened risk of delinquency and default caused by the COVID-19 pandemic, it would provide up to $20,000 of student loan debt relief to borrowers who met certain income thresholds. Borrowers eligible for this relief were to receive up to the full $20,000 in relief if they…

Student debt was specifically addressed in the federal government's response to the COVID-19 pandemic through forbearance polices. However, not all individuals were eligible for forbearance, and it is possible that forbearance would leave some feeling further behind. Yet, little is known about student loan debt over the course of the pandemic,…

Levels of student loan debt in the United States are increasing exponentially every year, directly affecting the ability of millions to live a comfortable life. Student loan debt levels are an acute issue for borrowers of color, as they more often need federal loans to attend institutions of higher education in comparison to their White peers.…

Student debt has exploded over the past several decades, rising to over $1.7 trillion. Federal student loans represent over 90% of student loan balances, with private financing making up the remainder. Research has shown that the negative impact of student debt has not been distributed equally across different demographics, with Black borrowers…

Forty-five million Americans collectively owe $1.7 trillion in student loan debt, and women hold nearly two-thirds of it. Black borrowers are the group most negatively affected by student loans, in large part because of systemic racism, the inequitable distribution of wealth, a stratified labor market, and rising college costs. Because Black women…

Income-driven repayment (IDR) plans are a subset of student loan repayment plans that cap a borrower's monthly payment at a percentage of their discretionary income, which is defined as a portion of a borrower's adjusted gross income (AGI) that exceeds a specified multiple of the federal poverty line (FPL) for the borrower's family size. A…

The research was commissioned by the National Association of School-Based Teacher Trainers (NASBTT) and Universities' Council for the Education of Teachers (UCET) to estimate the costs and possible impact on teacher supply of introducing a new Teacher Student Loan Reimbursement (TSLR) scheme. Under a TSLR scheme, the government pays back any…

The US Supreme Court will hear arguments next month about whether President Biden has the authority to forgive up to $20,000 in student debt for millions of borrowers. Part of the Biden administration's legal argument rests on the claim that borrowers as a group were made worse off financially by the pandemic. Urban Institute's analysis indicates…

As federal policymakers consider changes to income-driven repayment (IDR) schemes, research examining the characteristics and financial behaviors of student loan borrowers participating in IDR is necessary. Using the nationally representative Survey of Consumer Finances, we examined the demographics of IDR enrollment. Counter to expectations,…

Now in its sixteenth year, the "2024 Student Financial Services Benchmarking Report" has become a key component in our efforts to help institutions compare their key financial indicators against national averages and self-selected institutional peer groups.

In 2008, Maine implemented the Educational Opportunity Tax Credit (EOTC), a tax credit that repays up to $4,400 of student loan debt to filers who live in Maine, work in Maine, are paying towards their student debt, and who have an eligible degree. In 2019, Maine Revenue Services (MRS) provided 14,341 EOTC tax credits to 19,798 people, with annual…

Over the last 3 decades, the Direct Loan program has grown in size and complexity, with over $1.3 trillion in outstanding loans as of September 2023. This program provides financial assistance to help students and their parents pay for postsecondary education. The Government Accountability Office (GAO) was asked to review issues related to…

In this paper, we examine college graduates' perceptions of entering student loan repayment and how they navigated this process. Findings highlight the importance of helping students make informed borrowing decisions, particularly as they begin repaying their student loan debt. Policy makers wishing to hold institutions accountable for keeping…