The Labor Market Consequences of Student Loan Forbearance

• 成果类型: Article; Early Access
• 署名作者: Hamdi, Naser; Kalda, Ankit; Sovich, David
• 署名单位: Indiana University System; Indiana University Bloomington; IU Kelley School of Business; University of Kentucky
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.2023.04047
• 发表日期: 2025
• 关键词: finance: household finance; economics: labor economics; finance: student loans; economics: job search

摘要

We examine the effects of student loan forbearance on job search outcomes. Our experimental setting is the 2020 federal student loan moratorium that provided some borrowers with forbearance by pausing the payments on their student loans. We use data on unemployment insurance claims, payroll records, and credit histories to compare unemployed borrowers who received forbearance to unemployed borrowers who had to continue making payments. We find that the payment pause did not have any economically or statistically significant effects on job search durations or subsequent incomes. Further, we find no heterogeneity in these effects across borrowers' financial, demographic, or labor market characteristics.