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- 23 Jul 2024
- Research & Ideas
Forgiving Medical Debt Won't Make Everyone Happier
The solution seems obvious. Forgiving medical debt should ease both financial and emotional burdens for the two in five people in the US who carry it. Yet a new comprehensive study that tracked more than... View Details
- June 2019
- Article
Consequences of Debt Forgiveness: Strategic Default Contagion and Lender Learning
By: Gerardo Pérez Cavazos
I use a unique data set of loans to small business owners to examine whether lenders face adverse consequences when they grant debt forgiveness to borrowers. I provide evidence consistent with borrowers communicating their debt forgiveness to other borrowers, who then... View Details
Keywords: Debt Forgiveness; Strategic Default Contagion; Contracting; Borrowing and Debt; Communication; Learning
Pérez Cavazos, Gerardo. "Consequences of Debt Forgiveness: Strategic Default Contagion and Lender Learning." Journal of Accounting Research 57, no. 3 (June 2019): 797–841.
- 22 May 2019
- News
Forgiving Student Loan Debt Leads to Better Jobs, Stronger Consumers
- Forthcoming
- Article
Second Chance: Life with Less Student Debt
By: Marco Di Maggio, Ankit Kalda and Vincent Yao
This paper examines the effect of student debt relief on individual credit and labor market outcomes. We exploit an episode of plausibly random debt discharge due to the loss of paperwork for thousands of borrowers to examine the effects of private student debt relief... View Details
Keywords: Student Debt; Private Student Loans; Legal Settlement; Mobility; Debt Collection; Debt Relief; Personal Finance; Borrowing and Debt; Outcome or Result
Di Maggio, Marco, Ankit Kalda, and Vincent Yao. "Second Chance: Life with Less Student Debt." Journal of Finance (forthcoming).
- 2019
- Working Paper
Second Chance: Life with Less Student Debt
By: Marco Di Maggio, Ankit Kalda and Vincent Yao
Rising student debt is considered one of the creeping threats of our time. This paper examines the effect of student debt relief on individual credit and labor market outcomes. We exploit the plausibly random debt discharge due to the inability of National Collegiate,... View Details
Keywords: Student Debt; Private Student Loans; Legal Settlement; Mobility; Debt Collection; Debt Relief; Borrowing and Debt; Personal Finance; Outcome or Result; United States
Di Maggio, Marco, Ankit Kalda, and Vincent Yao. "Second Chance: Life with Less Student Debt." Working Paper, May 2019. (Forthcoming in The Journal of Finance.)
Second Chance: Life Without Student Debt
Rising student debt is considered one of the creeping threats of our time. This paper examines the effect of student debt relief on individual credit and labor View Details
- 2023
- Working Paper
Saving and Consumption Responses to Student Loan Forbearance
By: Justin Katz
How do households adjust savings and consumption in response to liquidity from debt relief? I study this question using policy variation induced by federal student loan forbearance in the 2020 CARES Act and an individual-level panel of daily financial transactions
for... View Details
Keywords: Saving; Consumer Behavior; Borrowing and Debt; Interest Rates; Financial Liquidity; Personal Finance; Government Legislation
Katz, Justin. "Saving and Consumption Responses to Student Loan Forbearance." SSRN Working Paper Series, January 2023.
- 01 Feb 2021
- Blog Post
Choosing the Right Student Loan
to successfully pay off debt in a relatively short time frame. If you’re planning to go into a field that does not offer that level of salary, there are several options available to you to help you manage your debt. For example,... View Details
- 16 Jul 2020
- Research & Ideas
Restaurant Revolution: How the Industry Is Fighting to Stay Alive
policies with exclusions. Thanks, but no thanks to bailouts Our panelists expressed frustration with government aid programs, such as the US CARES Act and its Paycheck Protection Program (PPP) enacted in late March. Although designed to help small businesses with View Details
- 23 Nov 2020
- Research & Ideas
COVID Was Supposed to Increase Bankruptcies. Instead, They've Gone Down.
another piece of the social safety net, Kluender says. “Large corporations are not afraid to take advantage of the benefits of the generous debt forgiveness or reorganization that we have available through... View Details
Keywords: by Rachel Layne
- 28 May 2020
- Research & Ideas
Coronavirus Could Create a 'Bankruptcy Pandemic'
Forgiving Student Loan Debt Leads to Better Jobs, Stronger Consumers On balance, is Chapter 11 bankruptcy protection good for the American economy? Share your insights below. View Details
- 02 Jun 2011
- What Do You Think?
Is it Time for a National Bankruptcy?
nation's debt? they are the ones who chose the representatives." As an alternative to insolvency, forgiveness of debt combined with other measures had appeal for several respondents. Yadeed Lobo, while... View Details
Keywords: by Jim Heskett
- Web
Career Support & Exploration Funds | MBA
Career Support & Exploration Funds Attending Harvard Business School is a profound and life-changing experience. So it’s no surprise that so many students change career paths after completing their MBA. The School has a strong commitment to career exploration, and we... View Details
- 18 Dec 2018
- First Look
New Research and Ideas, December 18, 2018
of Debt Forgiveness: Strategic Default Contagion and Lender Learning By: Pérez Cavazos, Gerardo Abstract—I use a unique data set of loans to small business owners to examine whether lenders face adverse consequences when they grant View Details
Keywords: Dina Gerdeman
- 08 May 2019
- News
Lessons from the Ashes
day one of the takeover, we had a lot more debt than we anticipated. Then there was the October '87 stock market crash, which really hurt our asset sale program in Australia. So by the end of '87, we had in Australian dollars, about $1.5... View Details
- Web
Choosing the Right Student Loan | MBA
discretionary spending. 2. What you’ll do after graduation. The median starting salary for our MBA students typically enables them to successfully pay off debt in a relatively short time frame. If you’re planning to go into a field that... View Details
- 13 Oct 2015
- First Look
October 13, 2015
private information with borrowers. When lenders grant debt forgiveness to borrowers, borrowers communicate that information to other borrowers, who are then more likely to strategically default on their own... View Details