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Are Student Loan Defaults Cyclical? It Depends

Rajashri Chakrabarti (), Nicole Gorton, Michelle Jiang and Wilbert van der Klaauw ()

No 20171122, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: This post is the second in a two-part series on student loan default behavior. In the first post, we studied how educational characteristics (school type and selectivity, graduation, and major) and family background relate to the incidence of student loan default. In this post, we investigate whether default behavior has varied across cohorts of borrowers as the labor market evolved over time. Specifically, does the ability of student loan holders to repay their loans vary with the state of the labor market? Does the type of education these students received make any difference to this relationship?

Keywords: recession; student loans; Default; for-profits (search for similar items in EconPapers)
JEL-codes: D1 J00 (search for similar items in EconPapers)
Date: 2017-11-22
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