000			01161nam a22001457a 4500
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100			_aHerbst, Daniel _939132
245			_aThe Impact of income-driven repayment on student borrower outcomes
260			_aAmerican Economic Journal: Applied Economics
300			_a15(1), Jan, 2023: p.1-25
520			_aIn the United States, most student loans follow a fixed payment schedule that falls early in borrowers' careers. This structure provides no insurance against earnings risk and may increase student loan defaults. Income-driven repayment (IDR) plans are designed to help distressed student borrowers by lowering their monthly payments to a share of income. Using random variation in a loan servicer's automatic dialing system, I find that IDR reduces delinquencies by 22 percentage points and decreases outstanding balances within eight months of take-up. I find suggestive long-run impacts on borrower credit scores, mortgage-holding rates, and other measures of financial health.- Reproduced
773			_aAmerican Economic Journal: Applied Economics
906			_aEDUCATION LOAN
942			_cAR