This analysis confirms our findings from the Defaulter Survey regarding quantitatively important relationships between repayment problems and borrower income. We also identify an important role for student debt, educational attainment, and beliefs about repayment. The analysis further reveals...

In higher education, pure credit market funding leads to underinvestment due to insufficient risk pooling, while pure income-contingent loan funding leads to overinvestment. We analyze whether funding diversity – a market structure in which credit markets coexist alongside income-contingent...