Tag: debt consolidation

Pushing a rock up a hill

Some 3.6 million parents are paying off more than $100 billion in debt used to fund their children’s college education. For many parents, the federal Parent Loan for Undergraduate Students (PLUS) was the only way they could afford college, but many are now struggling to make the monthly payments. In a Harris poll in July,…

elderly man inserting credit card to ATM

Abstract Mounting evidence suggests that behavioral factors depress wealth accumulation.  Although much research and policy focuses on asset accumulation, for many households debt decumulation is more efficient.   Yet the mass market for debt reduction services is thin.  So we develop and pilot test Borrow Less Tomorrow (BoLT), a behavioral approach to debt reduction that combines…