Debt and Graduation from American Universities

Autor/inn/en	Dwyer, Rachel E.; McCloud, Laura; Hodson, Randy
Titel	Debt and Graduation from American Universities
Quelle	In: Social Forces, 90 (2012) 4, S.1133-1155 (23 Seiten) PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0037-7732
DOI	10.1093/sf/sos072
Schlagwörter	Human Capital; Income; Debt (Financial); Risk; Paying for College; Access to Education; Student Costs; Student Loan Programs; Macroeconomics; Graduation Rate; Economic Impact; Loan Repayment; Maximum Likelihood Statistics; College Students; Social Influences; Universities; United States + Suchen Sie Ihr Suchwort? Humankapital; Einkommen; Risiko; Studienfinanzierung; Education; Access; Bildung; Zugang; Bildungszugang; Studienkosten; Makroökonomie; Ökonomische Determinanten; Collegestudent; Sozialer Einfluss; University; Universität; USA
Abstract	The goal of "college-for-all" in the United States has been pursued in an environment of rising tuition, stagnant grant aid and already strapped family budgets with the gap filled by college loans. College students are thus facing increasing levels of debt as they seek to develop their human capital and improve their career options. Debt is a useful resource for making needed investments. It is unique as a resource, however, because it must be repaid and can thus also increase vulnerabilities and limit options. We find that lower levels of educational debt do support college completion. However, additional educational debt beyond about $10,000 actually reduces the likelihood of college completion compared to lower levels of debt as the burden of repayment looms. Graduation likelihoods for students from the bottom 75% of the income distribution at public universities are especially influenced by debt. The article considers how the macro-level changes in financing societal functions influence the individual-level risks and vulnerabilities of life in a debt-based society. (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2017/4/10