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Income-Driven Repayment Plans for Student Loans: Working Paper 2020-02

Nadia Karamcheva, Jeffrey Perry and Constantine Yannelis

No 56337, Working Papers from Congressional Budget Office

Abstract: In February 2020, CBO released a report on the budgetary effects of student loans repaid through income-driven plans. This paper provides additional information on the analysis the agency conducted on the characteristics of borrowers in those plans and the methods the agency used to project borrowers’ earnings, repayment, and resulting forgiveness. The results show that income-driven repayment plans are heavily used by borrowers with large balances and low earnings. The typical borrower in income-driven repayment is negatively amortizing, and substantial forgiveness is

JEL-codes: D14 G18 H52 H80 J24 (search for similar items in EconPapers)
Date: 2020-04-30
New Economics Papers: this item is included in nep-lma
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Handle: RePEc:cbo:wpaper:56337