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Keywords:repayment 

Discussion Paper
The Graying of American Debt

The U.S. population is aging and so are its debts. In this post, we use the New York Fed Consumer Credit Panel, which is based on Equifax credit data, to look at how debt is changing as baby boomers reach retirement age and millennials find their footing. We find that aggregate debt balances held by younger borrowers have declined modestly from 2003 to 2015, with a debt portfolio reallocation away from credit card, auto, and mortgage debt, toward student debt. Debt held by borrowers between the ages of 50 and 80, however, increased by roughly 60 percent over the same time period. This ...
Liberty Street Economics , Paper 20160224

Working Paper
Student Loans and Repayment: Theory, Evidence and Policy

Rising costs of and returns to college have led to sizeable increases in the demand for student loans in many countries. In the U.S., student loan default rates have also risen for recent cohorts as labor market uncertainty and debt levels have increased. We discuss these trends as well as recent evidence on the extent to which students are able to obtain enough credit for college and the extent to which they are able to repay their student debts after. We then discuss optimal student credit arrangements that balance three important objectives: (i) providing credit for students to access ...
Working Papers , Paper 2014-40

Working Paper
Student Loan Relief Programs: Implications for Borrowers and the Federal Government

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
Student loan relief programs: implications for borrowers and the federal government

As college costs increase and more students fund their education through borrowing, debt load and delinquency rates have become significant problems on a number of levels. Student loan obligations are challenging to manage for new graduates with lower earnings and borrowers in financial hardship. This paper discusses the federal student loan repayment relief programs that are available and estimates their borrower and fiscal impacts. The implications of relief plans on borrowers? costs and the federal budget vary for different loan amounts, income levels, and relief program. {{p}} It is ...
Working Papers , Paper 1609

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