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Full-Text Articles in Educational Sociology
Financial Knowledge Or Financial Situations? Toward Understanding Why Some College Students Use Credit Cards To Pay For College Tuition, Benjamin D. Andrews
Financial Knowledge Or Financial Situations? Toward Understanding Why Some College Students Use Credit Cards To Pay For College Tuition, Benjamin D. Andrews
Journal of Student Financial Aid
While the majority of college students use credit cards for educational expenses like textbooks, recent data reports that college students also use credit cards to directly fund their schooling by charging for at least some part of their tuition (Sallie Mae, 2009). Because credit cards carry a higher interest rate than student loans, and because they do not have a period of deferred payment while a student is enrolled in school, credit cards are a particularly risky method of payment that students resort to in order to attend college. Why do college students participate in such risky spending behavior to …
Crushing Debt Or Savvy Strategy? Financial Literacy And Student Perceptions Of Their Student Loan Debt, Gail Markle
Crushing Debt Or Savvy Strategy? Financial Literacy And Student Perceptions Of Their Student Loan Debt, Gail Markle
Journal of Student Financial Aid
Almost three quarters of American college students use loans to fund their college education, although according to public discourse student debt is a critical problem. Grounded in social reproduction theory and consumer socialization theory this study examines the influence of financial literacy on students’ college financing decisions, perceptions of student loan debt, and education-related behavior. A sample of 429 undergraduate students selected using systematic cluster sampling from a large public university in the southeast completed a survey containing closed and open ended questions. Participants reported moderate levels of financial literacy (72.3%) and student loan awareness (62.7%). Only 20% of students …
Social Dimensions Of Student Debt: A Data Mining Analysis, Dirk Witteveen, Paul Attewell
Social Dimensions Of Student Debt: A Data Mining Analysis, Dirk Witteveen, Paul Attewell
Journal of Student Financial Aid
Media commentary on undergraduates' loan debt portrays a crisis in which many students are unable to pay back their loans, having borrowed large sums and lacking sufficient post-college income to repay. Several scholars have questioned the media accounts, noting that indebtedness is highest among students from high income families, while defaults predominate among low debt students. Using a data mining technique known as CART, we analyze national data on the indebtedness of recent baccalaureate graduates, to uncover combinations of social characteristics that are associated with loan pressure: the ratio of indebtedness to post-college earnings. We find that students from lower …