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Analyzing Postsecondary Returns: Does Educational Loan Default Play A Role?

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  • Laura A. Boyd

Abstract

The economic benefits of a traditional college education relative to a high school degree are well known to students and economists alike. However, little is known about the economic returns associated with associate and vocational degrees. Using a large micro‐data set of former guaranteed student loan borrowers, this paper analyzes post‐schooling returns for bachelors as well as associates and vocational students. The analysis further extends the existing literature by controlling for individual characteristics that income studies typically do not measure. By including the default status of the educational loan used to finance the postsecondary education, the intrinsic individual characteristics of commitment and initiative are controlled for and are found to significantly increase earnings.

Suggested Citation

  • Laura A. Boyd, 1995. "Analyzing Postsecondary Returns: Does Educational Loan Default Play A Role?," Contemporary Economic Policy, Western Economic Association International, vol. 13(4), pages 80-92, October.
    • Handle: RePEc:bla:coecpo:v:13:y:1995:i:4:p:80-92
    DOI: 10.1111/j.1465-7287.1995.tb00734.x
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    References listed on IDEAS

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    1. Grubb, W. Norton, 1992. "Postsecondary vocational education and the sub-baccalaureate labor market: New evidence on economic returns," Economics of Education Review, Elsevier, vol. 11(3), pages 225-248, September.
    2. W. Norton Grubb, 1993. "The Varied Economic Returns to Postsecondary Education: New Evidence from the Class of 1972," Journal of Human Resources, University of Wisconsin Press, vol. 28(2), pages 365-382.
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