| Title: |
Exploring the Relationship of Enrollment in IDR to Borrower Demographics and Financial Outcomes |
| Language: |
English |
| Authors: |
Collier, Daniel; Fitzpatrick, Dan; Marsicano, Christopher R. |
| Source: |
Journal of Student Financial Aid. Jun 2022 51(2). |
| Availability: |
Center for Economic Education at the University of Louisville. Porter Building, 1905 South 1st Street, Louisville, Ky, 40292. e-mail: jsfa@louisville.edu; Web site: https://ir.library.louisville.edu/jsfa/ |
| Peer Reviewed: |
Y |
| Page Count: |
23 |
| Publication Date: |
2022 |
| Document Type: |
Journal Articles; Reports - Research |
| Descriptors: |
Loan Repayment; Student Loan Programs; Enrollment; Income; Debt (Financial); Ownership; Money Management; Individual Characteristics |
| ISSN: |
0884-9153 |
| Abstract: |
As federal policymakers consider changes to income-driven repayment (IDR) schemes, research examining the characteristics and financial behaviors of student loan borrowers participating in IDR is necessary. Using the nationally representative Survey of Consumer Finances, we examined the demographics of IDR enrollment. Counter to expectations, low-income borrowers, and borrowers with high debt-to-income ratios are less likely to enroll in IDR. Conditional on having a large amount of debt, married women of color are likely to enroll in IDR programs. Findings concerning IDR participation may be highly sensitive to how groups are defined and what covariates are in models. IDR participation does not predict engagement in other financial behaviors such as retirement savings or homeownership. |
| Abstractor: |
As Provided |
| Entry Date: |
2022 |
| Accession Number: |
EJ1358581 |
| Database: |
ERIC |