View in EDS

Job Loss, Credit Card Loans, and the College-Persistence Decision of US Working Students. Working Papers. No. 23-19

Saved in:
Bibliographic Details
Title: Job Loss, Credit Card Loans, and the College-Persistence Decision of US Working Students. Working Papers. No. 23-19
Language: English
Authors: Pinghui Wu, Lucy McMillan, Federal Reserve Bank of Boston
Source: Federal Reserve Bank of Boston. 2023.
Availability: Federal Reserve Bank of Boston. P.O. Box 55882, Boston, MA 02205. Tel: 617-973-3000; Tel: 617-973-3397; e-mail: boston.library@bos.frb.org; Web site: https://www.bostonfed.org/
Peer Reviewed: N
Page Count: 59
Publication Date: 2023
Document Type: Reports - Research
Education Level: Higher Education
Postsecondary Education
High Schools
Secondary Education
Descriptors: Undergraduate Students, College Enrollment, Paying for College, College Bound Students, Student Employment, Credit (Finance), Unemployment, Job Layoff, Academic Persistence, Dropouts, Causal Models
Abstract: This study assesses the impact of involuntary job loss on college persistence by leveraging different job-loss timings relative to a student's college enrollment decision. We find that job loss increases the probability that a working college student leaves college before attaining a degree, but access to short-term credit through credit card loans buffers this liquidity effect. By restricting credit supply to college students, the CARD Act of 2009 has inadvertently inhibited the ability of liquidity-constrained students to remain in college when their earnings unexpectedly fall, resulting in a stronger liquidity effect of job loss on college persistence over the last decade.
Abstractor: As Provided
Entry Date: 2024
Accession Number: ED660709
Database: ERIC
FullText Text:
  Availability: 0
CustomLinks:
  – Url: https://eric.ed.gov/contentdelivery/servlet/ERICServlet?accno=ED660709
    Name: ERIC Full Text
    Category: fullText
    Text: Full Text from ERIC
Header DbId: eric
DbLabel: ERIC
An: ED660709
AccessLevel: 3
PubType: Report
PubTypeId: report
PreciseRelevancyScore: 0
IllustrationInfo
Items – Name: Title
  Label: Title
  Group: Ti
  Data: Job Loss, Credit Card Loans, and the College-Persistence Decision of US Working Students. Working Papers. No. 23-19
– Name: Language
  Label: Language
  Group: Lang
  Data: English
– Name: Author
  Label: Authors
  Group: Au
  Data: <searchLink fieldCode="AR" term="%22Pinghui+Wu%22">Pinghui Wu</searchLink><br /><searchLink fieldCode="AR" term="%22Lucy+McMillan%22">Lucy McMillan</searchLink><br /><searchLink fieldCode="AR" term="%22Federal+Reserve+Bank+of+Boston%22">Federal Reserve Bank of Boston</searchLink>
– Name: TitleSource
  Label: Source
  Group: Src
  Data: <searchLink fieldCode="SO" term="%22Federal+Reserve+Bank+of+Boston%22"><i>Federal Reserve Bank of Boston</i></searchLink>. 2023.
– Name: Avail
  Label: Availability
  Group: Avail
  Data: Federal Reserve Bank of Boston. P.O. Box 55882, Boston, MA 02205. Tel: 617-973-3000; Tel: 617-973-3397; e-mail: boston.library@bos.frb.org; Web site: https://www.bostonfed.org/
– Name: PeerReviewed
  Label: Peer Reviewed
  Group: SrcInfo
  Data: N
– Name: Pages
  Label: Page Count
  Group: Src
  Data: 59
– Name: DatePubCY
  Label: Publication Date
  Group: Date
  Data: 2023
– Name: TypeDocument
  Label: Document Type
  Group: TypDoc
  Data: Reports - Research
– Name: Audience
  Label: Education Level
  Group: Audnce
  Data: <searchLink fieldCode="EL" term="%22Higher+Education%22">Higher Education</searchLink><br /><searchLink fieldCode="EL" term="%22Postsecondary+Education%22">Postsecondary Education</searchLink><br /><searchLink fieldCode="EL" term="%22High+Schools%22">High Schools</searchLink><br /><searchLink fieldCode="EL" term="%22Secondary+Education%22">Secondary Education</searchLink>
– Name: Subject
  Label: Descriptors
  Group: Su
  Data: <searchLink fieldCode="DE" term="%22Undergraduate+Students%22">Undergraduate Students</searchLink><br /><searchLink fieldCode="DE" term="%22College+Enrollment%22">College Enrollment</searchLink><br /><searchLink fieldCode="DE" term="%22Paying+for+College%22">Paying for College</searchLink><br /><searchLink fieldCode="DE" term="%22College+Bound+Students%22">College Bound Students</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Employment%22">Student Employment</searchLink><br /><searchLink fieldCode="DE" term="%22Credit+%28Finance%29%22">Credit (Finance)</searchLink><br /><searchLink fieldCode="DE" term="%22Unemployment%22">Unemployment</searchLink><br /><searchLink fieldCode="DE" term="%22Job+Layoff%22">Job Layoff</searchLink><br /><searchLink fieldCode="DE" term="%22Academic+Persistence%22">Academic Persistence</searchLink><br /><searchLink fieldCode="DE" term="%22Dropouts%22">Dropouts</searchLink><br /><searchLink fieldCode="DE" term="%22Causal+Models%22">Causal Models</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: This study assesses the impact of involuntary job loss on college persistence by leveraging different job-loss timings relative to a student's college enrollment decision. We find that job loss increases the probability that a working college student leaves college before attaining a degree, but access to short-term credit through credit card loans buffers this liquidity effect. By restricting credit supply to college students, the CARD Act of 2009 has inadvertently inhibited the ability of liquidity-constrained students to remain in college when their earnings unexpectedly fall, resulting in a stronger liquidity effect of job loss on college persistence over the last decade.
– Name: AbstractInfo
  Label: Abstractor
  Group: Ab
  Data: As Provided
– Name: DateEntry
  Label: Entry Date
  Group: Date
  Data: 2024
– Name: AN
  Label: Accession Number
  Group: ID
  Data: ED660709
PLink https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=eric&AN=ED660709
RecordInfo BibRecord:
  BibEntity:
    Languages:
      – Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 59
    Subjects:
      – SubjectFull: Undergraduate Students
        Type: general
      – SubjectFull: College Enrollment
        Type: general
      – SubjectFull: Paying for College
        Type: general
      – SubjectFull: College Bound Students
        Type: general
      – SubjectFull: Student Employment
        Type: general
      – SubjectFull: Credit (Finance)
        Type: general
      – SubjectFull: Unemployment
        Type: general
      – SubjectFull: Job Layoff
        Type: general
      – SubjectFull: Academic Persistence
        Type: general
      – SubjectFull: Dropouts
        Type: general
      – SubjectFull: Causal Models
        Type: general
    Titles:
      – TitleFull: Job Loss, Credit Card Loans, and the College-Persistence Decision of US Working Students. Working Papers. No. 23-19
        Type: main
  BibRelationships:
    HasContributorRelationships:
      – PersonEntity:
          Name:
            NameFull: Federal Reserve Bank of Boston
      – PersonEntity:
          Name:
            NameFull: Pinghui Wu
      – PersonEntity:
          Name:
            NameFull: Lucy McMillan
    IsPartOfRelationships:
      – BibEntity:
          Dates:
            – D: 01
              M: 10
              Type: published
              Y: 2023
          Titles:
            – TitleFull: Federal Reserve Bank of Boston
              Type: main
ResultId 1