Do Academically Struggling Students Benefit from Continued Student Loan Access? Evidence from University and Beyond
利用新西兰一项要求贷款续期需通过50%课程的政策，发现保留贷款使边缘学生更可能继续学业并最终毕业，且带来显著的收入回报，额外债务相对较小。
Abstract We estimate the effects of student loan access on educational attainment and labor market returns in New Zealand. We exploit the introduction of a national policy mandating a 50% pass rate for student loan renewals using a regression discontinuity design. Retaining loan access increases reenrollment for students around the threshold, and a majority eventually graduate with a bachelor's degree within seven years. We find that retaining student loan access leads to large labor market returns for struggling students. The additional debt from further borrowing is small relative to the earnings returns and declines quickly due to faster repayment.