| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24060 |
| 来源ID | Working Paper 24060 |
| Student Loan Nudges: Experimental Evidence on Borrowing and Educational Attainment | |
| Benjamin M. Marx; Lesley J. Turner | |
| 发表日期 | 2017-11-27 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We estimate the impact of student loan “nudges” on community college students' borrowing and provide the first experimental evidence of the effect of student loans on educational attainment. Nonbinding loan offers listed in students' financial aid award letters, that do not alter students' choice sets, significantly affect borrowing. Students randomly assigned to receive a nonzero loan offer were 40 percent more likely to borrow than those who received a $0 loan offer. Nudge-induced borrowing increased both GPA and credits earned by roughly 30 percent in the year of the intervention, and in the following year, increased transfers to four-year colleges by 10 percentage points (nearly 200 percent). We predict that the average student would be better off receiving a nonzero loan offer for any discount rate below 12.4 percent. Students' borrowing responses to the nudge are most consistent with a model in which nonzero offers provide information about loan eligibility, suggesting that for most students, nonzero offers are welfare enhancing. Given that over 5 million U.S. college students receive $0 loan offers, our results indicate the potential to achieve large gains in educational attainment through changes to the choice architecture around borrowing. |
| 主题 | Microeconomics ; Households and Firms ; Behavioral Economics ; Health, Education, and Welfare ; Education |
| URL | https://www.nber.org/papers/w24060 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581734 |
| 推荐引用方式 GB/T 7714 | Benjamin M. Marx,Lesley J. Turner. Student Loan Nudges: Experimental Evidence on Borrowing and Educational Attainment. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24060.pdf（1224KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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