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33 posts on "Education"

November 28, 2016

At the N.Y. Fed: Convening on the Evolution of Work



LSE_Convening on the Evolution of Work

The Federal Reserve Bank of New York recently hosted “The Evolution of Work,” a conference that brought together thought leaders from academia, government, industry, labor, and the nonprofit sector to explore how the nature of work is evolving, including the expanding role of technology, shifts in employee work arrangements and employer-employee relationships, and the effects of these changes on workforce and community development strategies. The gathering was cosponsored by the Board of Governors of the Federal Reserve System and the Freelancers Union.

Continue reading "At the N.Y. Fed: Convening on the Evolution of Work" »

Posted by Blog Author at 8:38 AM in Education, Labor Economics, Macroecon | Permalink | Comments (0)

September 09, 2016

Who Falters at Student Loan Payback Time?



Editor’s note: The labels for “Elite private” and “Non-elite private, not-for-profit” institutions in the charts have been corrected; they were initially transposed. We regret the error. (September 12, 12:45 p.m.)

LSE_2016_Who Falters at Student Loan Payback Time?

This is the final post in a four-part series examining the evolution of enrollment, student loans, graduation and default in the higher education market over the course of the past fifteen years. In the first post, we found a marked increase in enrollment of 35 percent between 2000 and 2015, led mostly by the for-profit sector—which increased enrollment by 177 percent. The second post showed that these new enrollees were quite different from the traditional enrollees. Yesterday’s post demonstrated an unprecedented increase in loan origination amounts during this period—nearly tripling between 2000 and 2015. This surge was driven most prominently by a massive increase in the number of borrowers in the public community college sector and the private for-profit college sector. Given the large increase in the borrower pool and loan originations, it is paramount to understand the consequences of these changes for the student loan default rate. This post aims to do just that. We focus on three-year cohort default rates reported by the United States Department of Education. The three-year cohort default rate is defined as the percentage of a school's borrowers who enter repayment during a particular federal fiscal year—running from October 1 to September 30—and default prior to the end of the second following fiscal year. Most federal loans enter default when payments are more than 270 days past due.

Continue reading "Who Falters at Student Loan Payback Time?" »

Posted by Blog Author at 7:02 AM in Education, Labor Economics | Permalink | Comments (0)

September 08, 2016

The Changing Role of Community-College and For-Profit-College Borrowers in the Student Loan Market



Editor’s note: The chart sources cited in this post have been corrected. (September 9, 12:55 p.m.)



In the first post in this series, we characterized the rapid transformation of the higher education market over the 2000-2015 period, a transformation that was led by explosive growth of the for-profit sector of higher education. In the second post, we found that most of this growth was driven by nontraditional students entering these institutions. Given this growth and the marked change in student composition, it is important to understand what impact these patterns might have on student loan originations, student loan volume, and the borrower pool in the various sectors of higher education. While a causal analysis is beyond the scope of this post, we instead examine descriptive patterns in these critical postsecondary outcomes. Was the growth in for-profit enrollment associated with a higher incidence of student loans? Were for-profit students, the main contributors of this growth, more or less likely to take student loans, and were they more or less likely to originate larger student loans? How about community-college borrowers, especially since community college enrollment increased noticeably over the period? This post focuses on these questions.

Continue reading "The Changing Role of Community-College and For-Profit-College Borrowers in the Student Loan Market" »

Posted by Blog Author at 7:00 AM in Credit, Education, Labor Economics | Permalink | Comments (0)

September 07, 2016

The Changing Face of the Higher Education Market



LSE_2016_The Changing Face of the Higher Education Market

The higher education landscape changed drastically over the last decade and a half. This evolution was largely characterized by the unprecedented growth of the private for-profit sector. In this post, we examine whether the evolution of the higher education market was associated with changes in the types of students who attended the institutions in various sectors of the market. Was the growth in enrollment spurred by an increased entry of traditional students? Or was it driven by an inflow of nontraditional students? Has student composition in higher education changed differentially between sectors? It is important for us to understand not only the growth in the higher education market but also which types of students contributed to this growth, because any changes in the composition of students may have implications for the composition of skilled workers in the labor market, for student loans, for loan repayment, and for the labor market returns to education investments.

Continue reading "The Changing Face of the Higher Education Market" »

Posted by Blog Author at 7:00 AM in Education, Labor Economics | Permalink | Comments (0)

September 06, 2016

The Changing Higher Education Landscape



LSE_2016_The Changing Higher Education Landscape

The past decade and a half has seen dramatic changes in the higher education landscape, characterized by significant growth in enrollment. This growth has been concentrated mostly in for-profit schools, where enrollment skyrocketed in the first decade of the period, nearly quadrupling between 2000 and 2011. The post-2011 period has been marked by an abatement of this growth. These patterns have strong implications not only for the higher education market but also for the labor force and the economy more broadly. Therefore, it is essential to understand the evolution of the different sectors of higher education over the last sixteen years; in this post we aim to do just that. How have the different sectors of higher education changed during this period, in particular the for-profit sector? Is the story here more about enrollment in existing schools, or were there differential entries and exits of for-profit schools? This post is the first in a four-part series looking at different aspects of the changing higher education market, including enrollment growth and its composition, student loans, and student loan defaults.

Continue reading "The Changing Higher Education Landscape" »

Posted by Blog Author at 7:00 AM in Education, Labor Economics | Permalink | Comments (4)

August 11, 2016

Human Capital and Education in Puerto Rico



LSE_Human Capital and Education in Puerto Rico

Educational attainment is an important element of human capital; however a series of recent papers highlights the crucial role of the quality of education—which determines the skills actually learned, rather than the number of years spent in a classroom—as a main driver of growth. In fact, Hanushek and Woessmann argue that the importance of more appropriately measuring skills is seen in the very tight relationship between quality of skills, or knowledge capital, and growth. Moreover, the researchers state, “The knowledge capital–growth relationship suggests little mystery for East Asia, Latin America, or other regions: Growth rates are accounted for by cognitive skills.” Similarly, “Considering knowledge capital dramatically increases our ability to account for differences in growth.”

Continue reading "Human Capital and Education in Puerto Rico" »

Posted by Blog Author at 7:00 AM in Education, Puerto Rico, Regional Analysis | Permalink | Comments (3)

June 06, 2016

Just Released: Mapping the Differences in School Spending in New York City



LSE_Just Released: Mapping the Differences in School Spending in New York City

This morning, the Federal Reserve Bank of New York released a set of interactive visuals that present data on school spending and its various components—such as instructional spending, instructional support, leadership support, and building services spending—across all thirty-two community school districts (CSD) in New York City and map their progression over time. A key feature of these interactive visuals is that they present the data in two forms: as adjusted data, which control for student categories that receive differential funding from the City based on their needs, and as raw data that do not include this adjustment. The interactive features allow the user to easily view (and compare) the adjusted and raw data, to observe trends for different spending categories, and to compare spending profiles across community school districts for each form of data. Demographic and socioeconomic characteristics of each CSD can be viewed by clicking on the district of interest. Our purpose is to make data on education finance and education indicators more accessible to a broader audience, including education researchers.

Continue reading "Just Released: Mapping the Differences in School Spending in New York City" »

Posted by Blog Author at 7:00 AM in Education, Regional Analysis | Permalink | Comments (0)

January 29, 2016

Just Released: New Web Feature Provides Timely Data on the Job Market for Recent College Graduates



LSE_2016_college-labor-interactive_deitz_460_art

Many newly minted college graduates entering the labor market in the wake of the Great Recession have had a tough time finding good jobs. But just how difficult has it been, and are things getting better? And for which graduates? These questions can be difficult to answer because timely information on the employment prospects of college graduates has been hard to come by. To address this gap, today we are launching a new interactive web feature to provide data on a wide range of job market metrics for recent college graduates, including trends in unemployment rates, underemployment rates, and wages. We also provide data on the demand for college-educated workers, as well as differences in labor market outcomes across college majors. These data will be updated regularly and are available for download.

Continue reading "Just Released: New Web Feature Provides Timely Data on the Job Market for Recent College Graduates" »

Posted by Blog Author at 10:00 AM in Education, Labor Economics | Permalink | Comments (0)

May 15, 2015

The Class of 2015 Might Have a Little Better Luck Finding a Good Job



LSE_2015_college-better-luck-finding-jobs450


With the college graduation season well under way, a new crop of freshly minted graduates is entering the job market and many bright young minds are hoping to land a good first job. It’s no wonder if they are approaching the job hunt with some trepidation. For a number of years now, recent college graduates have been struggling to find good jobs. However, the labor market for college graduates is improving. After declining for nearly two years, openings for jobs requiring a college degree have picked up since last summer. Not only has this increase in the demand for educated workers continued to push down the unemployment rate for recent graduates, but it has also finally started to help reduce underemployment, though the underemployment rate remains high. While successfully navigating the job market will likely remain a challenge, it appears that finding a good job has become just a little bit easier for the class of 2015.

Continue reading "The Class of 2015 Might Have a Little Better Luck Finding a Good Job" »

Posted by Blog Author at 7:00 AM in Education, Labor Economics | Permalink | Comments (0)

March 06, 2015

Just Released: Is Your School Spending Less Than Your Neighbor’s?



Nyc-school-spending-450

This morning, the Federal Reserve Bank of New York released a set of interactive visuals that present school spending and its various components—such as instructional spending, instructional support, leadership support, and building services spending—across all thirty-two Community School Districts (CSD) in New York City and map their progression over time. The interactive features allow the user to easily view the data and observe spending trends. Our purpose is to make data on education finance more accessible to a broader audience.

Continue reading "Just Released: Is Your School Spending Less Than Your Neighbor’s?" »

Posted by Blog Author at 11:15 AM in Education, Regional Analysis | Permalink | Comments (0)
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