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Student Loans: Overview and Issues

42 Pages Posted: 28 Aug 2012 Last revised: 21 Feb 2015

Kelly D. Edmiston

Federal Reserve Bank of Kansas City

Lara Brooks

Federal Reserve Bank of Kansas City

Steven Shepelwich

Federal Reserve Bank of Kansas City

Date Written: April 2013

Abstract

This report provides a detailed overview of the student loan market, presents new statistics that highlight student loan debt burdens and delinquency rates, and discusses current concerns among many Americans about student loans, including their fiscal impact. The report is intended to enhance awareness of the state of student loan debt and delinquency and highlight issues facing borrowers, creditors, the federal government, and society at large. While the report does not offer specific suggestions on how to address the problems it highlighted, it does suggest some areas of concern to think about as policymakers consider student loans, and what some term to be the associated “crisis” around them. The clear message is that student loans present problems for some borrowers that are well worth addressing. At the same time, the analysis suggests that student loans do not yet impose a significant burden on society from their fiscal impact.

Keywords: student loans, personal debt, fiscal burden

JEL Classification: I22, I23, D14, H52

Suggested Citation

Edmiston, Kelly D. and Brooks, Lara and Shepelwich, Steven, Student Loans: Overview and Issues (April 2013). Federal Reserve Bank of Kansas City Working Paper No. 12-05. Available at SSRN: https://ssrn.com/abstract=2137243 or http://dx.doi.org/10.2139/ssrn.2137243

Kelly D. Edmiston (Contact Author)

Federal Reserve Bank of Kansas City ( email )

1 Memorial Dr.
Kansas City, MO 64198
United States

Lara Brooks

Federal Reserve Bank of Kansas City ( email )

1 Memorial Dr.
Kansas City, MO 64198
United States

Steven Shepelwich

Federal Reserve Bank of Kansas City ( email )

1 Memorial Dr.
Kansas City, MO 64198
United States

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