%0 Report
        %A Black, Sandra E.
%A Denning, Jeffrey T.
%A Dettling, Lisa J.
%A Goodman, Sarena
%A Turner, Lesley J.
        %T Taking It to the Limit: Effects of Increased Student Loan Availability on Attainment, Earnings, and Financial Well-Being
        %D 2023
        %8 2023 Jan
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 15874
        %U https://www.iza.org/index.php/publications/dp15874
        %X Growing reliance on student loans and repayment difficulties have raised concerns of a student debt crisis in the United States, but little is known about the effects of student borrowing on human capital and long-run financial well-being. We use variation induced by recent expansions in federal loan limits combined with administrative datasets to identify the effects of increased access to student loans on credit-constrained students' educational attainment, earnings, debt, and loan repayment. Increased student loan availability raises student debt and improves degree completion, later-life earnings, and student loan repayment while having no effect on homeownership or other types of debt.
        %K credit constraints
%K student debt