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Student Loans, Financial Stress, And College Student Retention, Sonya L. Britt, David Allen Ammerman, Sarah F. Barrett, Scott Jones
Student Loans, Financial Stress, And College Student Retention, Sonya L. Britt, David Allen Ammerman, Sarah F. Barrett, Scott Jones
Journal of Student Financial Aid
This study examined a sample of 2,475 undergraduate students to determine the influence of financial stress, debt loads, and financial counseling on retention rates. Results indicate, among other findings, that financial stress contributes to an increased likelihood of discontinuing college. Self-reported student loan debt contributes to an increased likelihood of discontinuing college, although students with the highest amount of university-reported student loan debt have a decreased likelihood of discontinuing college one year later as compared to students with no student loan debt. Interestingly, in this study students who sought financial counseling were more likely to discontinue college within the next …