ERIC Number: ED558180
Record Type: Non-Journal
Publication Date: 2014-Oct
Abstractor: As Provided
Reference Count: 7
Student Loan Debt and Economic Outcomes. Current Policy Perspective No. 14-7
Cooper, Daniel; Wang, J. Christina
Federal Reserve Bank of Boston
This policy brief advances the growing literature on how student loan debt affects individuals' other economic decisions. Specifically, it examines the impact of student loan liabilities on individuals' homeownership status and wealth accumulation. The analysis employs a rich set of financial and demographic control variables that are not available in many of the existing studies that use credit bureau data. Overall, student debt lowers the likelihood of homeownership for a group of students who attended college during the 1990s. There is also a fairly strong negative correlation between student loan debt and wealth (excluding student loan debt) for a group of households with at least some college experience. An appendix contains five additional tables.
Descriptors: Student Loan Programs, Debt (Financial), Economic Impact, Housing, Ownership, Family Income, Predictor Variables, Census Figures, Data Analysis, College Outcomes Assessment, Educational Benefits, Individual Needs, National Surveys
Federal Reserve Bank of Boston. P.O. Box 55882, Boston, MA 02205. Tel: 617-973-3000; Tel: 617-973-3397; e-mail: email@example.com; Web site: http://www.bos.frb.org/
Publication Type: Reports - Research
Education Level: Higher Education; Postsecondary Education
Authoring Institution: Federal Reserve Bank of Boston, MA.