The Impact of Financial-Aid Format on Students' Collegiate Financing Decisions

Autor/inn/en	Festa, Mackenzie M.; Holderness, D. Kip, Jr.; Neidermeyer, A. A.; Neidermeyer, Presha E.
Titel	The Impact of Financial-Aid Format on Students' Collegiate Financing Decisions
Quelle	In: Journal of Financial Counseling and Planning, 30 (2019) 1, S.27-43 (17 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Zusatzinformation	ORCID (Neidermeyer, Presha E.)
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	1052-3073
Schlagwörter	Decision Making; Money Management; Student Financial Aid; State Universities; Student Employment; Student Attitudes; Finance Occupations; Debt (Financial); Records (Forms); Paying for College; Gender Differences; Undergraduate Students; Business Administration Education; Accounting; Costs; Correlation; Credit (Finance); Mothers; Educational Attainment; Student Characteristics + Suchen Sie Ihr Suchwort? Decision-making; Entscheidungsfindung; Finanzielle Beihilfe; Studienfinanzierung; Studienförderung; Staatliche Universität; Studentenarbeit; Schülerverhalten; Finanzbuchhalter; Formularsammlung; Geschlechterkonflikt; Abrechnung; Buchführung; Buchhaltung; Cost; Kosten; Korrelation; Credit; Kredit; Mother; Mutter; Bildungsabschluss; Bildungsgut
Abstract	This study explored how an alternative presentation of loan information affects financial-aid decisions among students (n = 204) at a large public university. Building from decision-aid literature and using an experimental design, we found that when financial-aid forms were formatted in a way that makes interest rates more accessible and salient, students tended to: (a) accept fewer high-cost private loans and (b) work more during the college years. Results indicate that minor revisions in financial-aid documentation can have a significant impact on students' financial-aid choices. Those working in the fields of higher education and financial counseling and planning can use this information to further educate borrowers prior to the encumbrance of student loan debt. (As Provided).
Anmerkungen	Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: https://connect.springerpub.com/content/sgrjfcp
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01