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  • 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
Related
  • 27 Apr 2009
  • News

Harrah's Gets Some Debt Relief

  • 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
Related
  • February 1989
  • Article

Buybacks, Exit Bonds, and the Optimality of Debt and Liquidity Relief

By: K. A. Froot
Keywords: Chapter 7; Debt Reduction; Default; Sovereign Debt; Debt Crisis; Debt Restructuring; Borrowing and Debt
Related
  • 08 Apr 2024
  • News

Study Finds Medical Debt Relief Doesn’t Always Work

  • 15 Feb 2023
  • News

Governments Target Medical Debt with COVID Relief Funds

    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
    • 2024
    • Working Paper

    The Effects of Medical Debt Relief: Evidence from Two Randomized Experiments

    By: Raymond Kluender, Neale Mahoney, Francis Wong and Wesley Yin
    Two in five Americans have medical debt, nearly half of whom owe at least $2,500. Concerned by this burden, governments and private donors have undertaken large, high-profile efforts to relieve medical debt. We partnered with RIP Medical Debt to conduct two randomized... View Details
    Keywords: Borrowing and Debt; Credit; Outcome or Result; Well-being; Personal Finance
    Related
    • 23 Jul 2024
    • Research & Ideas

    Forgiving Medical Debt Won't Make Everyone Happier

    no impact on overall financial wellbeing or mental health. In fact, those who received debt relief were less likely to repay their other outstanding medical bills. Researchers found no impact on credit use... View Details
    Keywords: by Rachel Layne; Health
    • April 2007 (Revised June 2007)
    • Case

    Aid, Debt Relief, and Trade: An Agenda for Fighting World Poverty (A)

    By: Laura Alfaro, Eric D. Werker and Renee Kim
    At the 2005 Group of Eight summit, world leaders agreed to relieve the world's poorest countries' debt burdens and double aid to Africa by 2010. The announcement raised questions whether debt relief would really help the poor. By examining past aid trends and policies... View Details
    Keywords: Developing Countries and Economies; Borrowing and Debt; Capital; International Relations; Nonprofit Organizations; Poverty; Welfare; Africa
    Related
    • 10 Dec 2020
    • News

    Canceling Student Loan Debt Leads To Higher Income And Better Jobs, Clever Study Finds

    • June 2017 (Revised August 2018)
    • Case

    Goodbye IMF Conditions, Hello Chinese Capital: Zambia's Copper Industry and Africa's Break with Its Colonial Past

    By: Rafael Di Tella, Vincent Pons, Sarah Mehta and David Lane
    Over the past several decades, rapid growth in Chinese investment and trade has created for Africa a new development partner. China represents an alternative to U.S. and European nations whose past imperialism, resource avarice, and economic dictates—through the... View Details
    Keywords: Copper; Imperialism; IMF; World Bank; ODA; Debt Relief; Growth and Development; Business and Stakeholder Relations; Labor and Management Relations; History; Development Economics; China; Zambia; Africa
    Related
    • 22 May 2019
    • Research & Ideas

    Forgiving Student Loan Debt Leads to Better Jobs, Stronger Consumers

    borrowers with other private information, including monthly payment histories on auto loans, mortgages, home equity lines of credit, student loans, and credit cards, plus occupation and income information. Using debt View Details
    Keywords: by Dina Gerdeman
    • June 2015 (Revised January 2017)
    • Case

    Greece's Debt: Sustainable?

    By: George Serafeim
    The case "Greece's Debt: Sustainable?" describes the Greek economic crisis, bailout from the European Union and the International Monetary Fund (IMF), and the debt restructuring that followed. Because of a lack of trust in Greece's ability to repay its debt, two... View Details
    Keywords: Debt Crisis; Accounting; Debt Sustainability; Austerity; Solvency Opinions; Borrowing and Debt; Restructuring; Valuation; Accrual Accounting; Fair Value Accounting; Economy; Greece
    Related
    • 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
    Related
    • 19 Sep 2011
    • News

    How to Bring Our Companies' Foreign Profits Back Home

    • Research Summary

    Overview

    By: Boris Vallee
    Professor Vallée focuses on financial innovation, investigating it from different angles. This research thread has led him to relate the methods and insights of corporate finance and banking with those of other subfields, including household finance, public finance,... View Details
    • Article

    The Economic Consequences of Bankruptcy Reform

    By: Tal Gross, Raymond Kluender, Feng Liu, Matthew J. Notowidigdo and Jialan Wang
    A more generous consumer bankruptcy system provides greater insurance against financial risks but may also raise the cost of credit. We study this trade-off using the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which increased the costs of... View Details
    Keywords: Bankruptcy; Bankruptcy Abuse Prevention And Consumer Protection Act; Borrowing and Debt; Credit
    Related
    • 28 Jul 2015
    • First Look

    First Look: July 28, 2015

    Because of a lack of trust in Greece's ability to repay its debt, two programs were organized that provided financial assistance to Greece. This was followed by a debt restructuring that provided debt View Details
    Keywords: Carmen Nobel
    • 09 Nov 2023
    • News

    From the Brink

    Antonio Weiss (MBA 1994), Adam Chepenik (MBA 2010), Sebastián Negrón-Reichard (JD/MBA 2024) As the senior top official in the US Treasury Department on domestic finance issues, Antonio Weiss (MBA 1994) could see Puerto Rico’s financial meltdown coming, like watching a... View Details
    Keywords: Ralph Ranalli