CoChat
Sign Up
Cited by 51Higher Education Research StudiesFinancial Literacy, Pension, Retirement AnalysisSchool Choice and Performance

Taking It to the Limit: Effects of Increased Student Loan Availability on Attainment, Earnings, and Financial Well-Being

Open access
Black, Sandra, Denning, Jeffrey, Dettling, Lisa, Goodman, Sarena, Turner, Lesley·2020·National Bureau of Economic Research
DOI 10.3386/w27658
Open this paper in CoChat — free account

Abstract

Growing reliance on student loans and repayment difficulties have raised concerns of a student debt crisis in the United States, but little is known about the effects of student borrowing on human capital and long run financial well being.We use variation induced by recent expansions in federal loan limits combined with administrative datasets to identify the effects of increased access to student loans on credit constrained students' educational attainment, earnings, debt, and loan repayment.Increased student loan availability raises student debt and improves degree completion, later life earnings, and student loan repayment while having no effect on homeownership or other types of debt.

The claims and statistics of this paper haven’t been checked yet.

Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.

A few free checks a day · papers already verified open instantly · results are public

Integrity signals

Registry

Crossref · 10.3386/w27658

Cites

63 of 63 references verified0 citation errors · 0 not checkable

Statistics

Claims the paper makes

The claims and statistics of this paper haven’t been checked yet.

Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.

A few free checks a day · papers already verified open instantly · results are public

Claims other papers make about this one

Each is checked against this paper’s own text: does it say what the citing paper says it does?

  • In Texas public two- and four-year colleges, an increase in student loan limits increased bachelor's degree attainment by six percentage points, increased post-college earnings by 4-6% 6-8 years after entry, and reduced student loan default by 18% within 4 years of entry.

    “The authors conclude that the larger loan limit increased bachelor's degree attainment by six percentage points, and also led to higher post-college earnings (a 4-6% increase 6-8 years after college entry) and a reduced likelihood of student loan default (an 18% reduction within 4 years of entry).”

    From College Costs, Financial Aid, and Student Decisions (2022) · cites this paper as Black et al. (2020)

    Split into 2 atoms — 0 confirmed, 2 partially supported, 0 disputed, 0 misattributed, 0 unverifiable. Expand the claim to see per-atom verdicts.

    Experimental — accuracy not yet measured

Self-check

Percentages, sums and reported differences re-computed from the paper’s own numbers.

The self-check needs the paper’s full text.

Cites

Flagged first, then by citations

3 of the 66 references couldn’t be matched to a known paper.

Research works printed but not linked: 4

  1. Belzil, C., Maurel, A., & Sidibé, M. 2021. ʺEstimating the Value of Higher Education Financial Aid: Evidence from a Field Experiment,ʺ Journal of Labor Economics 39(2): 361-395.
  2. Barr, A., & Turner, S. E. 2013. "Expanding Enrollments and Contracting State Budgets: The Effect of the Great Recession on Higher Education," The ANNALS of the American Academy of Political and Social Science 650(1): 168-193.
  3. Ashenfelter, O. and Card, D.E., ed.), 1801-1863.
  4. Federal Reserve Bank of New York. 2021. Quarterly Report on Household Debt and Credit 2021: Q1. New York, NY: Federal Reserve Bank of New York

Cited by

Sorted by citations

Related

Authors
Black, S., Denning, J., Dettling, L., Goodman, S., & Turner, L.
Affiliations
Brigham Young University (US)
ORCID
Denning, Jeffrey
Venue
National Bureau of Economic Research
Publisher
National Bureau of Economic Research
Published
2020-08
DOI
10.3386/w27658
OpenAlex
W3048194733
Cited by
48
References
66
Citations by year
2025: 8 · 2024: 10 · 2023: 9 · 2022: 9 · 2021: 6 · 2020: 4 · 2019: 1 · 2017: 1
Type
report
Language
en
Open access
Locations
  • National Bureau of Economic Research (publishedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
  • Econstor (Econstor) (submittedVersion)
  • VTechWorks (Virginia Tech) (submittedVersion, cc-by-nc-nd)
  • Brown Digital Repository
Funders
  • Texas Education Agency
  • Texas Higher Education Coordinating Board
  • Texas Workforce Commission
Topics
  • Social Sciences › Education › Higher Education Research Studies
  • Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy, Pension, Retirement Analysis
  • Social Sciences › Education › School Choice and Performance
Keywords
student loans, student debt, student debt crisis, educational attainment, graduation, earnings, loan repayment, financial well-being, credit constraints, homeownership

About these checks

Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.

Statistics and arithmetic are recomputed, not judged.

Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.

What counts as a claim ›How we measure confidence ›How we check this ›

Are you an author, or do you see a problem with this page? Request a review