PLUS or Minus? The Effect of Graduate School Loans on Access, Attainment, and Prices. EdWorkingPaper No. 23-781
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| Title: | PLUS or Minus? The Effect of Graduate School Loans on Access, Attainment, and Prices. EdWorkingPaper No. 23-781 |
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| Language: | English |
| Authors: | Sandra E. Black, Lesley J. Turner, Jeffrey T. Denning, Annenberg Institute for School Reform at Brown University |
| Source: | Annenberg Institute for School Reform at Brown University. 2023. |
| Availability: | Annenberg Institute for School Reform at Brown University. Brown University Box 1985, Providence, RI 02912. Tel: 401-863-7990; Fax: 401-863-1290; e-mail: annenberg@brown.edu; Web site: https://annenberg.brown.edu/ |
| Peer Reviewed: | N |
| Page Count: | 49 |
| Publication Date: | 2023 |
| Sponsoring Agency: | Arnold Ventures |
| Document Type: | Reports - Research |
| Education Level: | Higher Education Postsecondary Education |
| Descriptors: | Student Loan Programs, Graduate Students, Federal Aid, Access to Education, Educational Attainment, Academic Persistence, Disproportionate Representation, Student Costs |
| Geographic Terms: | Texas |
| Laws, Policies and Program Identifiers: | Federal Direct PLUS Loan Program |
| Abstract: | In 2006, the federal government effectively uncapped student borrowing for graduate programs with the introduction of the Graduate PLUS loan program. Access to additional federal loans increased graduate students' borrowing and shifted the composition of their loans from private to federal debt. However, the increase in borrowing limits did not improve access to existing programs overall or for underrepresented groups. Nor did access to additional loan aid result in significant increase in constrained students' persistence or degree receipt. We document that among programs in which a larger share of graduate students had exhausted their annual federal loan eligibility before the policy change--and thus were more exposed to the expansion in access to credit--federal borrowing and prices increased. |
| Abstractor: | As Provided |
| Entry Date: | 2025 |
| Accession Number: | ED672308 |
| Database: | ERIC |
| Abstract: | In 2006, the federal government effectively uncapped student borrowing for graduate programs with the introduction of the Graduate PLUS loan program. Access to additional federal loans increased graduate students' borrowing and shifted the composition of their loans from private to federal debt. However, the increase in borrowing limits did not improve access to existing programs overall or for underrepresented groups. Nor did access to additional loan aid result in significant increase in constrained students' persistence or degree receipt. We document that among programs in which a larger share of graduate students had exhausted their annual federal loan eligibility before the policy change--and thus were more exposed to the expansion in access to credit--federal borrowing and prices increased. |
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