Do Academically Struggling Students Benefit from Continued Student Loan Access? Evidence from University and Beyond
Review of Economics and Statistics · 2024 · Yu-Wei Luke Chu、Harold E. Cuffe
中文摘要
我们估计了在新西兰学生贷款可获得性对教育成就与劳动力市场回报的影响。我们利用一项规定学生贷款续贷须达到50%通过率的全国性政策的出台,采用断点回归设计进行识别。继续保有贷款资格提高了阈值附近学生的重新入学率,且其中多数学生最终在七年内获得学士学位。我们发现,继续保有学生贷款资格为学业困难学生带来了可观的劳动力市场回报。进一步借款所产生的额外债务相对于收入回报而言较小,且由于还款速度更快而迅速下降。
Abstract
We estimate the effects of student loan access on educational attainment and labor market returns in New Zealand. We exploit the introduction of a national policy mandating a 50% pass rate for student loan renewals using a regression discontinuity design. Retaining loan access increases reenrollment for students around the threshold, and a majority eventually graduate with a bachelor's degree within seven years. We find that retaining student loan access leads to large labor market returns for struggling students. The additional debt from further borrowing is small relative to the earnings returns and declines quickly due to faster repayment.