中文摘要
我们考察学生贷款暂缓还款(forbearance)对求职结果的影响。我们的实验场景是2020年联邦学生贷款延期偿付政策,该政策通过暂停学生贷款还款,为部分借款人提供了暂缓还款安排。我们利用失业保险申领数据、工资记录和信用历史数据,将获得暂缓还款的失业借款人与必须继续还款的失业借款人进行比较。我们发现,暂停还款对求职时长或后续收入没有任何经济或统计上的显著影响。此外,我们发现这些影响在借款人的财务、人口统计或劳动力市场特征方面不存在异质性。
Abstract
We examine the effects of student loan forbearance on job search outcomes. Our experimental setting is the 2020 federal student loan moratorium that provided some borrowers with forbearance by pausing the payments on their student loans. We use data on unemployment insurance claims, payroll records, and credit histories to compare unemployed borrowers who received forbearance to unemployed borrowers who had to continue making payments. We find that the payment pause did not have any economically or statistically significant effects on job search durations or subsequent incomes. Further, we find no heterogeneity in these effects across borrowers’ financial, demographic, or labor market characteristics.