Parental Support, Savings, and Student Loan Repayment
成果类型：
Article
署名作者：
Lochner, Lance; Stinebrickner, Todd; Suleymanoglu, Utku
署名单位：
Western University (University of Western Ontario)
刊物名称：
AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY
ISSN/ISSBN：
1945-7731
DOI：
10.1257/pol.20180401
发表日期：
2021
页码：
329-371
关键词：
摘要：
Using unique survey and administrative data from Canada, we document that parental support and personal savings substantially reduce student loan repayment problems. Developing a model of student borrowing and repayment, we show that-nonmonetary costs of applying for-income-based repayment assistance are critical to understanding our findings. Furthermore, we show that eliminating these costs may be inefficient. Empirically, we show that expanding Canada's Repayment Assistance Plan to automatically cover all borrowers could reduce program revenue by half over early repayment years. Finally, we show how student loan programs can be more efficiently designed.
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