Higher Education Finance
The American higher education system is afflicted by a crisis of quality, affordability, and access that belies its role in building an equitable and just society. This has found most pernicious expression in the mounting problem of student debt, a $1.7 trillion burden affecting over 42 million people. This burden often now extends to students’ families, and is disproportionately shouldered by historically marginalized groups. Absent any meaningful constraint on college costs, the student debt trap risks putting higher education – and its promise of economic mobility – out of reach for ordinary and low-income Americans.
JFI approaches the problem of higher education finance in two principal ways. First, we analyze interlinked, nationally-representative datasets to offer a detailed picture of student debt, examining race, ethnicity and class intersections, labor markets, and the impacts of institution type and geographic concentration. With this analysis, we identify high-impact policy interventions to address the existing debt burden and the broader affordability crisis. Second, we design, consult on, and produce research on income-contingent financing, an alternative to traditional student loans under which students pledge a percent of their income over a limited period. Designed with adequate safeguards, income-contingent financing reduces students’ risk by ensuring their payments never exceed their ability to pay.
PARTNER WITH US
We welcome academic and philanthropic partners interested in using our student debt data for collaborative or independent research. We have collaborated with educational institutions, scholarship funds (notably, the Student Freedom Initiative), workforce development agencies, and a range of investors on income contingent finance pilots, and we welcome further inquiries. We also provide analytics, evaluation, and design consulting for existing providers in order to ensure equitable, transparent and accountable financing.
PARTNERS

Featured Partners
Higher Education Finance Contributors

Eduard (Eddie) Nilaj
Data Science Research Associate

Ege Aksu
Fellow

Francis Tseng
Lead Independent Researcher

Halah Ahmad
Vice President, PR & Policy Communications

Laura Beamer
Lead Researcher

Marshall Steinbaum
Senior Fellow

Roberta Costa
Research Manager

Sérgio Pinto
Fellow

Sidhya Balakrishnan
Director of Research

Yunjie Xie
Fellow
Related Publication Series

Millennial Student Debt
Recent Updates
Laura Beamer speaks to Vox about student debt
"There are no easy answers on canceling student debt," writes Vox's Emily Stewart
Rules, Accountability, and the Student Debt Crisis
An overview of institutional trends in higher education which heavily influence student access and indebtedness.
Part of the series Millennial Student Debt
Millennial Student Debt in Newsweek and NPR
Laura Beamer, Lead Researcher on Higher Education Finance, speaks about the student debt crisis
Student Debt and Young America Annual Report and Comparison Tool
This tool allows for interactive comparisons of higher education and debt statistics for specific geographic areas at the national, state...
Part of the series Millennial Student Debt
Student Debt and Young America: JFI’s annual report and new geographic comparison tool
The new report summarizes the state of student debt for 18 to 35 year olds; the accompanying comparison tool facilitates comparisons across...
Laura Beamer speaks to the Texas Standard about the student debt crisis
The conversation draws on JFI's Millennial Student Debt project
Millennial Student Debt maps win Dignity+Debt data visualization contest
Francis Tseng's maps show the geography of student debt across the United States
Business Insider, The American Prospect, Open Campus, Courier cover JFI’s Millennial Student Debt project
JFI's ongoing series on the higher education landscape provides evidence for the benefits of student debt cancellation
Yahoo! Finance features latest Millennial Student Debt report
Senior fellow Marshall Steinbaum's report on the growing burden of student debt forms part of the national conversation on debt...
The Student Debt Crisis Is a Crisis of (Non-)Repayment
Over the last ten years, as outstanding student loan debt has mounted and been assumed by a more diverse, less...
Part of the series Millennial Student Debt
JFI report by senior fellow Marshall Steinbaum examines the crisis of non-repayment of student debt
A new analysis in the Millennial Student Debt series finds that student debt loads are increasingly difficult for students to...
Announcing the Outcomes Center in collaboration with the San Diego Workforce Partnership
The Outcomes Center contains tools and information for workforce income share agreements
JFI student debt research featured in Higher Ed Not Debt campaign
In a week-long virtual action on the Hill for student loan forgiveness, Higher Ed Not Debt coalition members utilized JFI...
Congressional Overlay
An interactive map of congressional-level student debt trends from 2009 to 2019.
Part of the series Millennial Student Debt
JFI releases map of student debt disparities across congressional districts, states
Following last week’s release of student debt trends since 2009, JFI provides a comprehensive tool for congressional advocacy on the...
Yahoo! Finance piece highlights JFI findings on rising student debt burdens
The article discussed Senators Warren and Schumer's resolution for up to $50,000 in federal debt forgiveness amid disproportionate levels of student...
Unceasing Debt, Disparate Burdens: Student Debt and Young America
Since the Great Recession, outstanding student loan debt in the United States has increased by 122% in 2019 dollars, reaching the staggering...
Part of the series Millennial Student Debt
JFI report shows dramatic increases in millennial student debt, interactive map of disparate impacts
New data shows fewer options, higher prices, and ballooning debt in higher education since 2009, with lowest-income communities of color hit...
Policy Insights: ‘Legislating Relief’ – expert perspectives on higher education bills
Key takeaways of our August 7th panel with policy and research experts in higher education, providing crucial perspectives for the...
Declining Access, Rising Cost: The Geography of Higher Education Post-2008
Our goal in this study is to help policymakers understand the changing landscape of US higher education since 2008, and to...
Part of the series Millennial Student Debt
Announcement and Summary: Declining Access, Rising Cost: The Geography of Higher Education Post-2008
A new report on the Phenomenal World and interactive map displaying the price of college throughout the US
Time Magazine covers Robert Smith’s Student Freedom Initiative in partnership with JFI
The multi-billion dollar non-profit fund creates alternative financing options at HBCUs, with JFI partnering on program design, analytics, & research
Press Release: Announcing a Partnership between Robert Smith’s Student Freedom Initiative and the Jain Family Institute
JFI will offer design and analytics for Robert Smith’s major new nonprofit fund for historically Black colleges and universities
Yahoo! Finance features JFI higher ed access research
Laura Beamer, Lead Researcher on Higher Ed Finance, speaks with Yahoo! Finance on the findings of our first report on...