We study the effects of available student loan repayment plans on borrowers' career choices. By removing the risk of loan default, income driven repayment (IDR) plans make higher-paying but riskier jobs more attractive to those with moderate skill levels. We present experimental evidence that...

Since the late 1990s, the mean education payment-to-income ratio, a marker for the transitory burden related to student loans, has fallen steeply while repayment terms have become longer. The overall level of student debt has dramatically increased, suggesting that the level of student debt and...

As a result of the CARES Act and subsequent administrative actions, more than 25 million student loan borrowers have had suspended payments on their federal student loans for more than two years. This suspension is scheduled to end later this year, and it remains uncertain how financially ready...

We evaluate the effects of the 2020 student debt moratorium that paused payments for student loan borrowers. Using administrative credit panel data, we show that the payment pause led to a sharp drop in student loan payments and delinquencies for borrowers subject to the debt moratorium, as well...