| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24804 |
| 来源ID | Working Paper 24804 |
| Behavioral Effects of Student Loan Repayment Plan Options on Borrowers\u2019 Career Decisions: Theory and Experimental Evidence | |
| Katharine G. Abraham; Emel Filiz-Ozbay; Erkut Y. Ozbay; Lesley J. Turner | |
| 发表日期 | 2018-07-16 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We study the effects of available student loan repayment plans on borrowers’ career choices. By removing the risk of loan default, income driven repayment (IDR) plans make higher-paying but riskier jobs more attractive to those with moderate skill levels. We present experimental evidence that student loan recipients consider the repayment plans offered to them as well as the plans available to other borrowers as a reference in their evaluations of loans and careers. Emotions such as regret over a choice that turns out to be suboptimal ex post and relief at being unburdened from having to make a choice that could turn out badly play significant roles in borrowers’ career choices. Compared to giving borrowers a choice between a standard loan repayment plan that requires a fixed amount to be repaid over a shorter period and an IDR plan that protects borrowers from default by linking payments to income, offering only the IDR plan generates notable benefits. Removing the standard plan from borrowers’ choice sets makes remunerative but risky careers more appealing to borrowers and raises their expected net income. Moreover, these effects are strongest when borrowers holding different plans coexist in the population, as in this environment relief from the possibility of being exposed to a regret-triggering situation is most salient. |
| 主题 | Econometrics ; Experimental Design ; Microeconomics ; Behavioral Economics ; Health, Education, and Welfare ; Education |
| URL | https://www.nber.org/papers/w24804 |
| 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/582478 |
| 推荐引用方式 GB/T 7714 | Katharine G. Abraham,Emel Filiz-Ozbay,Erkut Y. Ozbay,et al. Behavioral Effects of Student Loan Repayment Plan Options on Borrowers\u2019 Career Decisions: Theory and Experimental Evidence. 2018. |
| 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 | ||
| w24804.pdf（511KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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