ABSTRACT. The accesibility of loans eliminates credit limitations and meets the expense of educational opportunities to individuals who may not in different circumstances have been able to afford a postsecondary degree. The main objective of this paper is to explore and describe the impact of U.S. loan programs on individuals’ educational outcomes. Our analysis complements the growing literature on the consequences of federal loan assistance on financial aid and employment.
JEL codes: I23; D83
Keywords: student loan; financial aid system; US; postsecondary degree
How to cite: Nica, Elvira, and Catalina Ioana Bonciu (2017). “Student Loans – An Essential Element of the Financial Aid System in the US,” Economics, Management, and Financial Markets 12(2): 74–80.
Received 22 December 2016 • Received in revised form 15 March 2017
Accepted 16 March 2017 • Available online 8 April 2017
doi:10.22381/EMFM12220175