Credit Access and the College-persistence Decision of Working Students: Policy Implications for New England

Abstract: This study assesses the effects of involuntary job loss and access to credit card loans on working college students’ decision to either remain in school (college persistence) or drop out. The authors conducted the underlying analysis using national data, but their findings are especially relevant to New England, where higher education employs 4 percent of the region’s workforce—more than twice the national average. College persistence therefore carries implications not only for the individual students, but also for the vitality of the region’s labor market.

Keywords: New England; NEPPC; credit card loans; unemployment; college persistence;

JEL Classification: I22; I23; J64;

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Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: New England Public Policy Center Research Report

Publication Date: 2023-12-01

Number: 23-2