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  3. Journal of Economic Literature
  4. June 2019
  5. Review of Books on Student Loans

Journal of Economic Literature

ISSN 0022-0515 (Print) | ISSN 2328-8175 (Online)

Review of Books on Student Loans

  • Christopher Avery
Journal of Economic Literature
vol. 57, no. 2, June 2019
(pp. 403–33)
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Abstract

This essay reviews three recent books on the causes and consequences of student debt. In addition to increases in college tuition and fees, supply and resource constraints both contribute to the growing phenomenon of default: degree completion rates are relatively low, especially at two-year colleges. Default rates actually decrease with the amount of debt incurred, as students who incur more debt are more likely to complete degrees that bolster their earning power. These books suggest some promising policy options, but there are no quick fixes given that the net cost of attending both private and public colleges continues to rise.

Citation

Avery, Christopher. 2019. "Review of Books on Student Loans." Journal of Economic Literature, 57 (2): 403–33. DOI: 10.1257/jel.20181469

Additional Materials

JEL Classification

  • D14 Household Saving; Personal Finance
  • I22 Educational Finance; Financial Aid
  • I23 Higher Education; Research Institutions
  • I28 Education: Government Policy