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24 posts on "Student Loans"February 19, 2015
Looking at Student Loan Defaults through a Larger Window
Second in a three-part seriesMost of our previous discussion about high levels of student loan delinquency and default has used static measures of payment status. But it is also instructive to consider the experience of borrowers over the lifetime of their student loans rather than at a point in time. In this second post in our three-part series on student loans, we use the Consumer Credit Panel (CCP), which is itself based on Equifax credit data, to create cohort default rates (CDRs) that are analogous to those produced by the Department of Education but go beyond theirthree-year window. We find that default rates continue to grow after three years and that performance by cohort worsened in the years leading up to the Great Recession.
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May 14, 2013
Just Released: The Geography of Student Debt
Andrew Haughwout, Donghoon Lee, Wilbert van der Klaauw, and Joelle Scally
This morning, the New York Fed released its Quarterly Report on Household Debt and Credit for 2013 Q1. The report uses the FRBNY Consumer Credit Panel to show that outstanding household debt declined approximately $110 billion (about 1 percent) from the previous quarter. The drop was due in large part to a reduction in housing-related debt and credit card balances. Meanwhile, delinquency rates for each form of consumer debt declined, with the overall ninety-plus day delinquency rate dropping from 6.3 percent to 6.0 percent.
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Posted by Blog Author at 11:15 AM in Household Finance, Regional Analysis, Student Loans | Permalink | Comments (3)April 17, 2013
Young Student Loan Borrowers Retreat from Housing and Auto Markets
Meta Brown and Sydnee Caldwell
Student loans have soared in popularity over the past decade, with the aggregate student loan balance, as measured in the FRBNY Consumer Credit Panel, reaching $966 billion at the end of 2012. Student debt now exceeds aggregate auto loan, credit card, and home-equity debt balances—making student loans the second largest debt of U.S. households, following mortgages. Student loans provide critical access to schooling, given the challenge presented by increasing costs of higher education and rising returns to a degree. Nevertheless, some have questioned how taking on extensive debt early in life has affected young workers’ post-schooling economic activity.
Continue reading "Young Student Loan Borrowers Retreat from Housing and Auto Markets" »
Posted by Blog Author at 7:00 AM in Household Finance, Housing, Student Loans | Permalink | Comments (4)March 05, 2012
Grading Student Loans
Meta Brown, Andrew F. Haughwout, Donghoon Lee, Maricar Mabutas,*
and Wilbert van der Klaauw
Student loans support the education of millions of students nationwide, yet much is unknown about the student loan market. Relevant data are limited and, for the most part, anecdotal. Also, sources tend to focus on recent college graduates and do not reveal much information about the indebtedness of parents, graduate students, and those who drop out of school.
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