Despite the availability of income-driven repayment (IDR) plans--and significant improvements to program design and generosity over time--too many federal student loan borrowers?continue to struggle with repayment. Many struggling borrowers never enroll in an IDR plan; even for some who do,?income-based monthly payments can?still be too high.…

This brief examines data from 19,934 students with self-reported educational debt in Trellis' Fall 2021 Student Financial Wellness Survey (SFWS), with special emphasis on their financial security and attitudes toward their loans, debt, and debt forgiveness. Nearly two-thirds of borrowers had accumulated more debt than expected, and 36 percent did…

In this letter, the Congressional Budget Office (CBO) responds to questions about the effects of President Biden's August 24, 2022, announcement on executive actions affecting student loans. The cost of outstanding student loans will increase by $20 billion because an action suspended payments, interest accrual, and involuntary collections from…

Research examining students' socioeconomic outcomes after attaining a bachelor's degree tends to use single measures such as income or occupation (Thomas & Zhang, 2005; Torche, 2015). Yet, socioeconomic status is more complex than single measures. To capture that complexity, this study draws data from the National Center for Education…

This is the technical documentation for the report, "How the College Cost Reduction Act Could Threaten the Teacher Pipeline." The College Cost Reduction Act would overhaul the Higher Education Act, making changes to student borrowing and repayment, borrower protections, college oversight, postsecondary data, and more. The bill includes a…

Recent higher education accountability policies and proposals have often linked programs' or institutions' federal aid access to students' postcompletion earnings. But proposals differ regarding when to measure earnings. Policymakers may want to know how fast earnings typically grow and when in an individual's career earnings growth rates change.…

This document records testimony from a hearing before the Committee on Education and Labor that was held to examine the Department of Education's implementation of Borrower Defense. Member statements were provided by: (1) Honorable Robert Scott, Chairman, Committee on Education and Labor; and (2) Honorable Virginia Foxx, Ranking Member, Committee…

The Student Financial Services (SFS) Benchmarking Report examines student financial services operations, including: unpaid student account balances; student accounts in collections; payment channels and methods; student refunds; third-party billing; and staffing and financial services operating budget. [For the 2021 report, see ED615270.]

Title IV of the Higher Education Act of 1965 (HEA; P.L. 89-329, as amended) authorizes the operation of three federal student loan programs: the William D. Ford Federal Direct Loan (Direct Loan) program, the Federal Family Education Loan (FFEL) program, and the Federal Perkins Loan program. While new loans are currently authorized to be made only…

The number of individuals with student loan debt who do not earn their degrees is on the rise; nevertheless, there is little research that demonstrates their current circumstances and future aspirations. We address this knowledge gap by comparing the financial distresses and re-enrollment aspirations of student debt-holders who started college but…

Employers have rapidly adopted student loan repayment programs in recent years. An estimated 4% of employers had a student loan repayment benefit in 2015 and 20% were projected to have one by 2018 (Kilgour, 2017). Offered as an employee benefit, employer loan repayment programs contribute to paying down student loans either by matching the…

This paper investigates the possible opportunity cost of using standard college savings plans against the advantages of using debt to pay for college. In addition, it presents a practical argument for using debt in place of college savings plans in certain instances. By doing so, investors may not only be able to mitigate the difficulty of saving,…

Federal Student Aid is money from the Federal Government that helps you pay for college, career school, or graduate school expenses. Federal student aid is available through grants, work-study funds, and loans. Every student who meets certain eligibility requirements can get some type of federal student aid. This brief describes the types of aid…

In August 2022, the U.S Department of Education (ED) announced it would invoke the Higher Education Relief Opportunities for Students Act of 2003 (HEROES Act) to cancel up to $20,000 of federal student loan debts for borrowers who fell below certain income thresholds. The HEROES Act authorizes the Secretary to "waive or modify" statutory…

Recruiting and retaining a well-prepared, stable, and diverse teacher workforce is a critical endeavor to advance student learning and development. However, the persistent teacher shortages across the nation's schools challenge this mission. The teaching profession has been characterized by relatively lower levels of compensation compared to other…