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Patterns And Predictors Of Debt: A Panel Study, 1985-2008, Richard K. Caputo

The Journal of Sociology & Social Welfare

Relying on panel data from the National Longitudinal Survey of Youth (NLSY79), this study finds that about half the study sample (N = 5,304) never experienced annual debt between 1985 and 2008, that the vast majority of those who incurred annual debt were short-term (1 year) or intermittent debtors (2-4 years), that the proportion of the study sample in debt for the most part declined over time, but also that the level of debt increased. Multinomial regression results indicated that health status and level of changes in income are robust predictors of debt in general, that age and race/ethnicity are …