PLUS or Minus? The Effect of Graduate School Loans on Access, Attainment, and Prices /
Black, Sandra E.
PLUS or Minus? The Effect of Graduate School Loans on Access, Attainment, and Prices / Sandra E. Black, Lesley J. Turner, Jeffrey T. Denning. - Cambridge, Mass. National Bureau of Economic Research 2023. - 1 online resource: illustrations (black and white); - NBER working paper series no. w31291 . - Working Paper Series (National Bureau of Economic Research) no. w31291. .
May 2023.
In 2006, the federal government effectively uncapped student borrowing for graduate programs with the introduction of the Graduate PLUS loan program. Access to additional federal loans increased graduate students' borrowing and shifted the composition of their loans from private to federal debt. However, the increase in borrowing limits did not improve access to existing programs overall or for underrepresented groups. Nor did access to additional loan aid result in significant increase in constrained students' persistence or degree receipt. We document that among programs in which a larger share of graduate students had exhausted their annual federal loan eligibility before the policy change--and thus were more exposed to the expansion in access to credit--federal borrowing and prices increased.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
General
Educational Finance • Financial Aid
PLUS or Minus? The Effect of Graduate School Loans on Access, Attainment, and Prices / Sandra E. Black, Lesley J. Turner, Jeffrey T. Denning. - Cambridge, Mass. National Bureau of Economic Research 2023. - 1 online resource: illustrations (black and white); - NBER working paper series no. w31291 . - Working Paper Series (National Bureau of Economic Research) no. w31291. .
May 2023.
In 2006, the federal government effectively uncapped student borrowing for graduate programs with the introduction of the Graduate PLUS loan program. Access to additional federal loans increased graduate students' borrowing and shifted the composition of their loans from private to federal debt. However, the increase in borrowing limits did not improve access to existing programs overall or for underrepresented groups. Nor did access to additional loan aid result in significant increase in constrained students' persistence or degree receipt. We document that among programs in which a larger share of graduate students had exhausted their annual federal loan eligibility before the policy change--and thus were more exposed to the expansion in access to credit--federal borrowing and prices increased.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
General
Educational Finance • Financial Aid