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Marie Wilken
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mwilken@brookings.edu
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On December 7, The Hamilton Project addressed reforms to the immigration system that would make it more equitable and increase economic growth.
Immigration is good for the U.S. economy and for the fiscal picture at the federal level, but some local areas experience adverse fiscal impacts when new immigrants arrive. Wendy Edelberg and Tara Watson propose a transparent system for redistributing resources from the federal government to these localities.
In this paper, the authors propose a risk-sharing system for the student loan program. Institutions with low repayment rates, as measured by a new cohort-based repayment metric, would be asked to pay a fee in proportion to the degree to which they miss repayment rate targets. This fee is intended to be a nudge to encourage institutions to improve matching between students and programs, program quality, completion, and other factors that relate to repayment outcomes.