Lochner, Lance; Monge-Naranjo, Alexander - National Bureau of Economic Research (NBER) - 2014
More than low default rates, lenders are interested in the expected return on their loans. In this paper, we consider a number of other measures of repayment and nonpayment that are likely to be of direct interest to lenders. Using data from the Baccalaureate and Beyond Longitudinal Study, we...