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Report
Why have revenue-strapped New England school districts been slow to turn to alternative funding sources?
Downes, Thomas (2016-07-01)
During and even after the Great Recession, numerous popular press stories commented on the apparent growth of non-tax revenues in the face of school district budget deficits. But Downes and Killeen (2014) show that nationally the growth of non-traditional revenues has been far less than these articles may lead the reader to believe. This paper uses data from the New England states to assess the empirical content of some of the possible explanations of this slow growth. In New England, as in the rest of the nation, non-tax revenues per pupil have grown in real terms but have not become a more ...
Current Policy Perspectives , Paper 16-1

Report
Credit Access and the College-persistence Decision of Working Students: Policy Implications for New England
Wu, Pinghui; McMillan, Lucy (2023-12-01)
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.
New England Public Policy Center Research Report , Paper 23-2

Working Paper
Student Loan Relief Programs: Implications for Borrowers and the Federal Government
Edmiston, Kelly D.; Di, Wenhua (2017-01-02)
As college costs increase and more students borrow to fund their education, debt load and delinquency rates have become significant problems. Student loan obligations are challenging to manage for new graduates with lower earnings and for borrowers in financial hardship. This paper discusses the various federal student loan repayment relief programs that are available and their borrower and fiscal impacts. The implications for borrowers' costs and the federal budget vary significantly by loan amount, income level, and relief program.
Research Working Paper , Paper RWP 17-2

Working Paper
How to Design a State Education Aid Formula That Is Equitable, Adequate, and Politically Feasible: The Case of Connecticut
Zhao, Bo (2020-09-01)
After being sued for inequity and inadequacy in school funding, many states have reformed their education aid policies. Using Connecticut as an example, this paper shows how to design a state education aid formula that can effectively address funding inequity and inadequacy while taking political feasibility into account. It first develops a measure of the gap between education cost and revenue capacity, both of which are estimated using school district characteristics that are outside the direct control of local officials at any given point in time. It then uses each district’s ...
Working Papers , Paper 21-1

Working Paper
A Day Late and a Dollar Short : Liquidity and Household Formation among Student Borrowers
Goodman, Sarena; Yannelis, Constantine; Isen, Adam (2018-04-13)
The federal government encourages human capital investment through lending and grant programs, but resources from these programs may also finance non-education activities for students whose liquidity is otherwise restricted. This paper explores this possibility, using administrative data for the universe of federal student loan borrowers linked to tax records. We examine the effects of a sharp discontinuity in program limits?generated by the timing of a student borrower?s 24th birthday?on household formation early in the lifecycle. After demonstrating that this discontinuity induces a jump in ...
Finance and Economics Discussion Series , Paper 2018-025

Working Paper
The impact of student loan debt on small business formation
Ma, Shuwei; Cordell, Lawrence R.; Ambrose, Brent W. (2015-07-01)
Small businesses are the backbone of the U.S. economy and account for approximately one-half of the private-sector economy and 99% of all businesses. To start a small business, individuals need access to capital. Given the importance of an entrepreneur?s personal debt capacity in financing a startup business, student loan debt, which is difficult to discharge via bankruptcy, can have lasting effects and may have an impact on the ability of future small business owners to raise capital. This study examines the impact of the growth in student debt on net small business formation. We find a ...
Working Papers , Paper 15-26

Report
How the Student Loan Payment Pause Affected Borrowers’ Credit Access and Credit Use
Cooper, Daniel H.; Haddix, Maddie (2025-01-13)
This brief examines how the pandemic-related, 43-month moratorium on federal student loan payments and interest accruals affected borrowers’ credit card limits and balances. The pause freed up an average of $280 a month for each of the 17 million student loan holders in active repayment, and it included a provision that erased previous defaults on student loans.
Current Policy Perspectives , Paper 25-1

Working Paper
The Effect of Student Loan Payment Burdens on Borrower Outcomes
Monarrez, Tomás; Turner, Lesley J. (2024-03-21)
Rising student loan debt and concerns over unaffordable payments provide a rationale for the broad class of “income-driven repayment” (IDR) plans for federal student loans. These plans aim to protect borrowers from delinquency, default, and resulting financial consequences by linking payments to income and providing forgiveness after a set repayment period. We estimate the causal effect of IDR payment burdens on loan repayment and schooling outcomes for several cohorts of first-time IDR applicants using a regression discontinuity design. Federal student loan borrowers who are not required ...
Working Papers , Paper 24-08

Journal Article
On the record: Texas students often lack skills, financial knowledge for college success
Weiss, Michael (2014-04)
Jeff Webster is assistant vice president for research and analytical services for TG (Texas Guaranteed Student Loan Corp.), a nonprofit that promotes educational access and administers the Federal Family Education Loan Program. He has studied student loan default, debt burden and student retention.
Southwest Economy , Issue Q2 , Pages 8-9

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