College Student Debt and Anticipated Repayment Difficulty

Thumbnail Image
Supplemental Files
Date
2017-01-01
Authors
Fox, Jonathan
Letkiewicz, Jodi
Montalto, Catherine
Major Professor
Advisor
Committee Member
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract

This study analyzes factors associated with anticipated difficulty with repayment of debt accumulated during college using a basic model of credit risk that includes socialization processes influencing college student financial decisions. The empirical analysis uses data from the 2010 Ohio Student Financial Wellness Study. Results provide evidence of male overconfidence in financial decision making, as males are less likely than females to predict repayment difficulties. Socialization process variables, including financial management practices, financial parenting communication, and expected economic returns from education, are strongly associated with anticipated debt repayment difficulty. Inclusion of these process variables in the model results in loss of explanatory power of many of the traditional individual success variables, such as grade point average, and graduation plans.

Series Number
Journal Issue
Is Version Of
Versions
Series
Academic or Administrative Unit
Type
article
Comments
This article was published as Fox, Jonathan J.; Bartholomae, Suzanne; Letkiewicz, Jodi C.; and Montalto, Catherine P. (2017) "College Student Debt and Anticipated Repayment Difficulty," Journal of Student Financial Aid: Vol. 47 : Iss. 2 , Article 6. DOI: https://doi.org/10.55504/0884-9153.1576. Posted with permission.
Rights Statement
Copyright
Sun Jan 01 00:00:00 UTC 2017
Funding
DOI
Supplemental Resources
Source
Collections