Student Loans and Borrower Outcomes
本文综述了学生贷款文献，重点研究违约、信用结果和收入的实证证据，发现借款人结果因机构类型而异，并探讨了贷款减免、收入驱动还款等政策选项及其公平与效率权衡。
This review surveys the literature on student lending, emphasizing empirical studies of default, credit outcomes, and earnings. Student loans exist to alleviate credit constraints and, in theory, may have different effects on outcomes through multiple channels. There is significant heterogeneity in outcomes across types of borrowers, with many adverse outcomes driven by a subset of primarily for-profit institutions. We conclude by exploring policy options such as student loan forgiveness, income-driven repayment, income-share agreements, and penalizing schools for adverse borrower outcomes. These policies lead to possible equity and efficiency trade-offs.