ERIC Number: EJ1344335
Record Type: Journal
Publication Date: 2021-Jun
Pages: 13
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-0884-9153
EISSN: N/A
Another Lesson on Caution in IDR Analysis: Using the 2019 Survey of Consumer Finances to Examine Income-Driven Repayment and Financial Outcomes
Collier, Daniel A.; Fitzpatrick, Dan; Marsicano, Christopher R.
Journal of Student Financial Aid, v50 n2 Article 4 Jun 2021
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 female borrowers were more likely than male borrowers to be enrolled. Again, model specification affects findings regarding IDR enrollment. REPAYE appears to have widened access to IDR by lowering the debt floor for entry. IDR enrollment was correlated with less money in a traditional checking account and a lower chance of engaging in retirement savings.
Descriptors: Loan Repayment, Income, Low Income Students, College Students, Gender Differences, Debt (Financial), Student Loan Programs, Money Management, Surveys, Consumer Economics, Paying for College
Center for Economic Education at the University of Louisville. Porter Building, 1905 South 1st Street, Louisville, Ky, 40292. e-mail: jsfa@louisville.edu; Web site: https://ir.library.louisville.edu/jsfa/
Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A