Learn Now, Pay Later: A History of Income-Contingent Student Loans in the United States

Robert Shireman

The ANNALS of the American Academy of Political and Social Science, 2017, vol. 671, issue 1, 184-201

Abstract: The idea of financing higher education with the income that comes afterward has been formally proposed and implemented in the United States, in various permutations, since at least 1971. The attractiveness of the concept is exemplified by the political diversity of its proponents, ranging from Senator Ted Kennedy to President Ronald Reagan, and from presidential candidates Michael Dukakis (Democratic governor who ran in 1988) to Jeb Bush (Republican former governor who ran in 2016). This article examines the design of the various proposals over time, the arguments in support and opposition, and the current state of affairs.

Keywords: college financial aid; student loans; student debt; income-contingent loans; higher education policy; higher education finance; income-based repayment (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:anname:v:671:y:2017:i:1:p:184-201

DOI: 10.1177/0002716217701673

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