Response to Federal Loan Policy Changes: Examination of the Bennett Hypothesis in Professional School Prices

• In Event: The Student Debt Conundrum: Strategies to Reduce Financial Burden

Abstract

I leverage a large increase in Grad PLUS loan limits that took place in 2006 to examine whether professional programs in law, medicine, and business responded by raising tuition or other living expenses and the relationship with student debt—the first test of the Bennett Hypothesis in professional education.

Author

• Robert Kelchen, Seton Hall University