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Administrative Burden in Federal Student Loan Repayment, and Socially Stratified Access to Income-Driven Repayment Plans

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Title: Administrative Burden in Federal Student Loan Repayment, and Socially Stratified Access to Income-Driven Repayment Plans
Language: English
Authors: Adam Goldstein (ORCID 0000-0003-1127-3541), Charlie Eaton (ORCID 0000-0002-4973-406X), Amber Villalobos, Parijat Chakrabarti (ORCID 0000-0002-8816-6405), Jeremy Cohen, Katie Donnelly
Source: RSF: The Russell Sage Foundation Journal of the Social Sciences. 2023 9(4):86-111.
Availability: Russell Sage Foundation. 112 East 64th Street, New York, NY 10065. Tel: 212-750-6000; e-mail: journal@rsage.org; Web site: www.rsfjournal.org/
Peer Reviewed: Y
Page Count: 26
Publication Date: 2023
Document Type: Journal Articles
Reports - Research
Descriptors: Student Loan Programs, Federal Programs, Loan Repayment, Income Contingent Loans, Student Financial Aid, Debt (Financial), Educational Finance, Low Income Students, Trust Responsibility (Government), Social Stratification, Financial Services
ISSN: 2377-8253
2377-8261
Abstract: This study considers socially stratified take-up of income-driven repayment plans among federal student loan borrowers with high-debt payment obligations. Qualitative analyses of borrower complaints from the Consumer Financial Protection Bureau are used to document borrowers' experiences of administrative burden in the federal loan repayment system. The combined effects of burdens on access to payment relief programs are quantified using both administrative data from a national sample of consumer credit reports and restricted-use survey data from the Beginning Postsecondary Longitudinal Study (BPS). Socioeconomic and racial gaps in take-up of income-driven repayment (IDR) plans are estimated among the subset of borrowers who would face high loan payment-to-income ratios under a standard repayment plan. Regression models indicate that among these borrowers, those living in lower-income census blocks are less likely to be enrolled in IDR.
Abstractor: As Provided
Entry Date: 2024
Accession Number: EJ1444319
Database: ERIC
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  Data: <searchLink fieldCode="AR" term="%22Adam+Goldstein%22">Adam Goldstein</searchLink> (ORCID <externalLink term="https://orcid.org/0000-0003-1127-3541">0000-0003-1127-3541</externalLink>)<br /><searchLink fieldCode="AR" term="%22Charlie+Eaton%22">Charlie Eaton</searchLink> (ORCID <externalLink term="https://orcid.org/0000-0002-4973-406X">0000-0002-4973-406X</externalLink>)<br /><searchLink fieldCode="AR" term="%22Amber+Villalobos%22">Amber Villalobos</searchLink><br /><searchLink fieldCode="AR" term="%22Parijat+Chakrabarti%22">Parijat Chakrabarti</searchLink> (ORCID <externalLink term="https://orcid.org/0000-0002-8816-6405">0000-0002-8816-6405</externalLink>)<br /><searchLink fieldCode="AR" term="%22Jeremy+Cohen%22">Jeremy Cohen</searchLink><br /><searchLink fieldCode="AR" term="%22Katie+Donnelly%22">Katie Donnelly</searchLink>
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  Data: Russell Sage Foundation. 112 East 64th Street, New York, NY 10065. Tel: 212-750-6000; e-mail: journal@rsage.org; Web site: www.rsfjournal.org/
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  Data: 26
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  Data: <searchLink fieldCode="DE" term="%22Student+Loan+Programs%22">Student Loan Programs</searchLink><br /><searchLink fieldCode="DE" term="%22Federal+Programs%22">Federal Programs</searchLink><br /><searchLink fieldCode="DE" term="%22Loan+Repayment%22">Loan Repayment</searchLink><br /><searchLink fieldCode="DE" term="%22Income+Contingent+Loans%22">Income Contingent Loans</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Financial+Aid%22">Student Financial Aid</searchLink><br /><searchLink fieldCode="DE" term="%22Debt+%28Financial%29%22">Debt (Financial)</searchLink><br /><searchLink fieldCode="DE" term="%22Educational+Finance%22">Educational Finance</searchLink><br /><searchLink fieldCode="DE" term="%22Low+Income+Students%22">Low Income Students</searchLink><br /><searchLink fieldCode="DE" term="%22Trust+Responsibility+%28Government%29%22">Trust Responsibility (Government)</searchLink><br /><searchLink fieldCode="DE" term="%22Social+Stratification%22">Social Stratification</searchLink><br /><searchLink fieldCode="DE" term="%22Financial+Services%22">Financial Services</searchLink>
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  Data: This study considers socially stratified take-up of income-driven repayment plans among federal student loan borrowers with high-debt payment obligations. Qualitative analyses of borrower complaints from the Consumer Financial Protection Bureau are used to document borrowers' experiences of administrative burden in the federal loan repayment system. The combined effects of burdens on access to payment relief programs are quantified using both administrative data from a national sample of consumer credit reports and restricted-use survey data from the Beginning Postsecondary Longitudinal Study (BPS). Socioeconomic and racial gaps in take-up of income-driven repayment (IDR) plans are estimated among the subset of borrowers who would face high loan payment-to-income ratios under a standard repayment plan. Regression models indicate that among these borrowers, those living in lower-income census blocks are less likely to be enrolled in IDR.
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    Languages:
      – Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 26
        StartPage: 86
    Subjects:
      – SubjectFull: Student Loan Programs
        Type: general
      – SubjectFull: Federal Programs
        Type: general
      – SubjectFull: Loan Repayment
        Type: general
      – SubjectFull: Income Contingent Loans
        Type: general
      – SubjectFull: Student Financial Aid
        Type: general
      – SubjectFull: Debt (Financial)
        Type: general
      – SubjectFull: Educational Finance
        Type: general
      – SubjectFull: Low Income Students
        Type: general
      – SubjectFull: Trust Responsibility (Government)
        Type: general
      – SubjectFull: Social Stratification
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      – SubjectFull: Financial Services
        Type: general
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      – TitleFull: Administrative Burden in Federal Student Loan Repayment, and Socially Stratified Access to Income-Driven Repayment Plans
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            NameFull: Jeremy Cohen
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            NameFull: Katie Donnelly
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