Note. This table reports multinomial logit estimates for the effect of tuition on major choice. The omitted category is having no degree (thus, no major) before age 23. Tuition is the average in-state tuition at public 4-year colleges from the four school years following the individuals‘ eighteenth birthday and is expressed in thousands of 2014 dollars. The sample is all individuals from a nationally representative cohort of 2331-year-old individuals with credit records in 2004 after applying the filters described in sec. III who have attended at least a public 4-year college before age 23. Standard errors are clustered at the home state level.

To eliminate bias from any state-level shocks that could affect both the homeownership rate and public school tuition, we split the sample into a treatment and a control group.Continue reading→

Students who want the option of taking out a student loan must submit the Free Application for Federal Student Aid (FAFSA®) form. Your college bases its financial aid offer on information in the FAFSA form, and their offer may include federal student loans. You can choose to accept the offer or deny all or part of the offer. ( 4)

What To Do When You Have Surpassed Your Lifetime Loan Limit

For some college students, tuition and costs associated with attending school exceed the total amount they are allowed to borrow. There are three main ways that college students can handle expenses that exceed student loan limits:

Maximize your ability to get grants and scholarships, and tap savings before you take out loans. Talk with your financial aid office to identify sources of funding that you may not have previously known of.Continue reading→