Incoming Council of Economic Advisors Chair is Aware of Student Loan Impact on Borrowers

Inside Higher Education is reporting that President-Elect Joe Biden's choice to lead the White House Council of Economic Advisors, Cecelia Rouse, has written about the impact of student loans on borrowers. However, she has not called for the federal government to cancel student loan debt (at least not yet).

From Inside Higher Education: "Rouse, in a paper co-authored with Jesse Rothstein, now a public policy and economics professor at the University of California, Berkeley, found that holding student debt made it more likely for students to choose high-paying careers and eschew lower-paying ones like teaching... They found that every $10,000 in debt reduces by 5 to 6 percent the chances that a student at the university would take a job at a nonprofit, in the government or in education."

Read Rothstein and Rouse's (2007) full paper here.