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DESCRIPTION:Speaker Information: \nBenjamin Marx\nStudent Loan Nudges: Expe
 rimental Evidence on Borrowing and Educational Attainment\nBenjamin M. Mar
 x\nAssistant Professor\, UIUC Economics Department\nWe experimentally test
  the impact of student loan “nudges” on community college students' borrow
 ing decisions and subsequent educational attainment. We find that students
  are biased towards borrowing the amount listed in their financial aid awa
 rd letters\, even though this amount does not affect students’ choice sets
 . Students randomly assigned to receive a nonzero loan offer were 40 perce
 nt more likely to borrow than those who received a $0 loan offer. Neither 
 fall nor spring enrollment was affected by loan offers\, but students indu
 ced to borrow by a nonzero offer earned significantly more credits and hig
 her GPAs. An additional $1000 in loans led to 0.9 additional credits earne
 d and a 0.16 GPA increase in the first year. Given that nearly one quarter
  of U.S. college students are offered $0 in loan aid\, our results indicat
 e the potential to achieve large gains in educational attainment by reform
 ing the choice architecture around borrowing.\nCost: \nfree\nContact: \nJe
 nnifer Delaney\ndelaneyj@illinois.edu\nSponsor: \nHigher Education Collabo
 rative
DTEND:20161102T203000Z
DTSTAMP:20260810T073409Z
DTSTART:20161102T193000Z
LOCATION:IL\,USA\,Champaign
SEQUENCE:0
SUMMARY:Student Loan Nudges: Experimental Evidence on Borrowing and Educati
 onal Attainment
UID:RFCALITEM639219260495926451
X-ALT-DESC;FMTTYPE=text/html:<p class="speakerinfo"><span class="event-head
 ing speakerinfo">Speaker Information:</span> </p>\n<p>Benjamin Marx</p>\n<
 p><strong>Student Loan Nudges: Experimental Evidence on Borrowing and Educ
 ational Attainment</strong></p>\n<p><strong>Benjamin M. Marx</strong></p>\
 n<p><strong>Assistant Professor\, UIUC Economics Department</strong></p>\n
 <p>We experimentally test the impact of student loan “nudges” on community
  college students' borrowing decisions and subsequent educational attainme
 nt. We find that students are biased towards borrowing the amount listed i
 n their financial aid award letters\, even though this amount does not aff
 ect students’ choice sets. Students randomly assigned to receive a nonzero
  loan offer were 40 percent more likely to borrow than those who received 
 a $0 loan offer. Neither fall nor spring enrollment was affected by loan o
 ffers\, but students induced to borrow by a nonzero offer earned significa
 ntly more credits and higher GPAs. An additional $1000 in loans led to 0.9
  additional credits earned and a 0.16 GPA increase in the first year. Give
 n that nearly one quarter of U.S. college students are offered $0 in loan 
 aid\, our results indicate the potential to achieve large gains in educati
 onal attainment by reforming the choice architecture around borrowing.</p>
 \n<p class="cost"><span class="event-heading cost">Cost:</span> </p>\n<p>f
 ree</p>\n<p class="contact"><span class="event-heading contact">Contact:</
 span> </p>\n<p>Jennifer Delaney</p>\n<p class="contact"><a href="mailto:de
 laneyj@illinois.edu">delaneyj@illinois.edu</a></p>\n<p class="sponsor"><sp
 an class="event-heading sponsor">Sponsor:</span> </p>\n<p>Higher Education
  Collaborative</p>
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