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Review of Books on Student Loans

Author

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  • Christopher Avery

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.

Suggested Citation

  • Christopher Avery, 2019. "Review of Books on Student Loans," Journal of Economic Literature, American Economic Association, vol. 57(2), pages 403-433, June.
    • Handle: RePEc:aea:jeclit:v:57:y:2019:i:2:p:403-33
    Note: DOI: 10.1257/jel.20181469
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    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy

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