Student Loan Debt and the Impact on the Labor Market
Poster Number
124
Session Title
Wages and Economics
College
College of Business Administration
Department
Accounting, Finance & Economics
Faculty Mentor
Louis Pantuosco Ph.D.
Abstract
This paper examines the economic impact of student loan debt at the personal and national level. This issue is of high importance. There are several issues surrounding student loan debt that college students do not always consider. Collectively, the impact of these issues, particularly including the increased time that students take to get degrees, affects a large majority of college graduates. The U.S. student loan market stands at approximately $1.5 trillion—the second largest consumer debt market in the country behind mortgage debt. The American higher education system relies on loan funding as the prevailing method by which American families pay for college. Student debt spills over on individuals and communities, as well. The impact of student debt provides different outcomes on the labor market, including wages, hours of employment, and working hours. Finally, this paper examines important differences in the performance of the labor market for people who receive student loans compared to those who do not.
Course Assignment
ECON 345 – Pantuosco
Start Date
24-4-2020 12:00 AM
Student Loan Debt and the Impact on the Labor Market
This paper examines the economic impact of student loan debt at the personal and national level. This issue is of high importance. There are several issues surrounding student loan debt that college students do not always consider. Collectively, the impact of these issues, particularly including the increased time that students take to get degrees, affects a large majority of college graduates. The U.S. student loan market stands at approximately $1.5 trillion—the second largest consumer debt market in the country behind mortgage debt. The American higher education system relies on loan funding as the prevailing method by which American families pay for college. Student debt spills over on individuals and communities, as well. The impact of student debt provides different outcomes on the labor market, including wages, hours of employment, and working hours. Finally, this paper examines important differences in the performance of the labor market for people who receive student loans compared to those who do not.
