What Do Stafford Loans Actually Buy You? - The Effect of Stafford Loan Access on Community College Students
Students who do not have access to credit may not be able to complete their optimal level of post-secondary education. More than one out of every ten community college students nationwide attends a community college that does not allow access to federal college loans. This paper takes advantage of plausibly exogenous variation in whether a student's community college offers student loans to evaluate the effect of access to Stafford loans on student outcomes, including educational attainment, employment, and finances.