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Loans in the Long Game: How Student Debt Affects Financial Stress Post-Graduation

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Title: Loans in the Long Game: How Student Debt Affects Financial Stress Post-Graduation
Language: English
Authors: Thomas S. Zimmerman, Faye R. Jones, Avery M. D. Davis, Carley Dear
Source: Journal of Student Financial Aid. 2024 53(3).
Availability: Center for Economic Education at the University of Louisville. Porter Building, 1905 South 1st Street, Louisville, Ky, 40292. e-mail: jsfa@louisville.edu; Web site: https://ir.library.louisville.edu/jsfa/
Peer Reviewed: Y
Page Count: 41
Publication Date: 2024
Sponsoring Agency: National Center for Education Statistics (NCES) (ED/IES)
National Science Foundation (NSF)
Contract Number: 2000799
Document Type: Journal Articles
Reports - Research
Education Level: Higher Education
Postsecondary Education
Descriptors: Debt (Financial), Student Loan Programs, Stress Variables, College Graduates, Financial Problems, Minority Group Students, Hispanic Americans, Minority Serving Institutions, Black Colleges, Money Management, Loan Repayment
Assessment and Survey Identifiers: Baccalaureate and Beyond Longitudinal Study (NCES)
ISSN: 0884-9153
Abstract: This study employs data from the National Center for Education Statistics' (NCES) Baccalaureate and Beyond Surveys to compare financial well-being among college graduates with varying social characteristics and levels of student debt. We use logistic regression to answer three questions: 1) To what extent does the amount of debt at graduation affect students' financial stress that they will be able to meet their fiscal obligations following graduation; 2) To what degree does this affect students from marginalized backgrounds; and 3) What are the postgraduate financial experiences of students who graduate from Hispanic Serving Institutions, Primarily Black Institutions, or Historically Black Colleges and Universities? Our project examines the relationship between cumulative federal student debt at the time of graduation and graduates' ability to meet financial obligations following degree completion. We found that students with higher direct loan amounts at graduation reported inability to meet financial obligations more often than students with lower amounts. Furthermore, we observed disparities in this relationship between demographic groups and institutional types, indicating a need for additional policies strategically designed to address equity issues in higher education.
Abstractor: As Provided
IES Funded: Yes
Entry Date: 2025
Accession Number: EJ1468598
Database: ERIC
FullText Text:
  Availability: 0
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PubType: Academic Journal
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  Data: Loans in the Long Game: How Student Debt Affects Financial Stress Post-Graduation
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  Data: <searchLink fieldCode="SO" term="%22Journal+of+Student+Financial+Aid%22"><i>Journal of Student Financial Aid</i></searchLink>. 2024 53(3).
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  Data: Center for Economic Education at the University of Louisville. Porter Building, 1905 South 1st Street, Louisville, Ky, 40292. e-mail: jsfa@louisville.edu; Web site: https://ir.library.louisville.edu/jsfa/
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  Data: 41
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  Data: 2024
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  Data: National Center for Education Statistics (NCES) (ED/IES)<br />National Science Foundation (NSF)
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  Data: This study employs data from the National Center for Education Statistics' (NCES) Baccalaureate and Beyond Surveys to compare financial well-being among college graduates with varying social characteristics and levels of student debt. We use logistic regression to answer three questions: 1) To what extent does the amount of debt at graduation affect students' financial stress that they will be able to meet their fiscal obligations following graduation; 2) To what degree does this affect students from marginalized backgrounds; and 3) What are the postgraduate financial experiences of students who graduate from Hispanic Serving Institutions, Primarily Black Institutions, or Historically Black Colleges and Universities? Our project examines the relationship between cumulative federal student debt at the time of graduation and graduates' ability to meet financial obligations following degree completion. We found that students with higher direct loan amounts at graduation reported inability to meet financial obligations more often than students with lower amounts. Furthermore, we observed disparities in this relationship between demographic groups and institutional types, indicating a need for additional policies strategically designed to address equity issues in higher education.
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  Data: EJ1468598
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RecordInfo BibRecord:
  BibEntity:
    Languages:
      – Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 41
    Subjects:
      – SubjectFull: Debt (Financial)
        Type: general
      – SubjectFull: Student Loan Programs
        Type: general
      – SubjectFull: Stress Variables
        Type: general
      – SubjectFull: College Graduates
        Type: general
      – SubjectFull: Financial Problems
        Type: general
      – SubjectFull: Minority Group Students
        Type: general
      – SubjectFull: Hispanic Americans
        Type: general
      – SubjectFull: Minority Serving Institutions
        Type: general
      – SubjectFull: Black Colleges
        Type: general
      – SubjectFull: Money Management
        Type: general
      – SubjectFull: Loan Repayment
        Type: general
      – SubjectFull: Baccalaureate and Beyond Longitudinal Study (NCES)
        Type: general
    Titles:
      – TitleFull: Loans in the Long Game: How Student Debt Affects Financial Stress Post-Graduation
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            NameFull: Faye R. Jones
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            NameFull: Avery M. D. Davis
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            NameFull: Carley Dear
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              Type: published
              Y: 2024
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            – TitleFull: Journal of Student Financial Aid
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