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…

There are many ways to pay for postsecondary education, and one increasingly common option is an income share agreement (ISA). Under an ISA, the learner promises a share of their pre-tax earnings to a funder for a set period after the learner finishes or stops their program. The learner makes payments only when their earnings are high enough, and…

Postsecondary education is a key pathway to economic mobility for many Americans, but financial challenges often make it difficult for learners to pursue and complete their education. Obtaining financing for postsecondary education can be a barrier to access for some students. The process is complicated, and many programs are ineligible for…

Today, costs loom large in public discussions about the problems in higher education. That's no wonder. Tuition at four-year private colleges has grown at an average annual rate of 2.3% above inflation over the past 10 years. Four-year public and two-year institutions have seen similar trends, with tuition growing at an annual rate of 3.1% and…

In 2014, ACCT and TICAS partnered to examine student loan default at nine community colleges and explore administrative practices aimed at addressing students' default risks. At each college, we analyzed cohort default rate data and uncovered notable trends and populations at higher risk, identified default-reduction strategies the college was…

Some of the biggest debtors in the twenty-first century are not small business owners or first-time homeowners, but rather university students who take out massive debt in the belief that it is an investment in their future. Like housing loans before the Global Financial Crisis, student loan debt is today being packaged and re-packaged into exotic…

"Student Debt and the Class of 2018" is the fourteenth annual report produced by The Institute for College Access & Success (TICAS) on the student loan debt of recent graduates from four-year colleges, documenting the changes in student loan debt and variation among states as well as colleges. This report includes federal policy…

"Student Debt and the Class of 2019" is The Institute for College Access & Success' (TICAS') fifteenth annual report on the student loan debt of recent graduates from four-year colleges, documenting changes and variation in student debt across states and colleges. This report includes federal policy recommendations to reduce debt…

Evidence from behavioral economics suggests that the framing and labeling of choices affect financial decisions. Through a randomized control trial of over six thousand high school seniors, community college students, and adults without a college degree, we identify the existence of both framing and labeling effects in respondents' preferences for…

"Student Debt and the Class of 2017" is the thirteenth annual report produced by The Institute for College Access & Success (TICAS) on the student loan debt of recent graduates from four-year colleges, documenting the changes in student loan debt and variation among states as well as colleges. [For "Student Debt and the Class of…

Since the turn of the 21st century, going to college has become increasingly financially difficult in the United States. Tuition prices continued to rise, state funding for higher education declined, and the mean family income declined or stagnated for all but the top 20 percent of families (Goldrick-Rab 2016). In a period where college has risen…

For high school students and their parents, paying for college can be daunting, particularly if student loans are a factor. Some advocates have suggested that income share agreements (ISAs) may help these families finance postsecondary education. ISAs are an alternative form of financial aid in which students pledge a portion of their future…

Student Debt and the Class of 2016 is the Institute for College Access & Success (TICAS') twelfth annual report on the student loan debt of recent graduates from four-year colleges, documenting the rise in student loan debt and variation among states as well as colleges. State averages for debt at graduation ranged from a low of $20,000 (Utah)…

"Student Debt and the Class of 2014" is the tenth annual report on the student loan debt of recent graduates from four-year colleges. It documents the latest rise in student loan debt and finds considerable variation among states as well as colleges. It also includes a new analysis of how debt at graduation has changed over the last…

Objective: The purpose of this study was to understand how community college students assess the risks and rewards of using personal loans to achieve their higher education goals. Method: Interviews were conducted with 12 federal loan borrowers attending a large, urban community college in Texas during the Spring 2013 semester. Results: Findings…