Campus Units

Human Development and Family Studies

Document Type

Article

Publication Version

Published Version

Publication Date

2017

Journal or Book Title

Journal of Student Financial Aid

Volume

47

Issue

2

First Page

111

Last Page

135

Abstract

This study analyzes factors associated with anticipated difficulty with repayment of debt accumulated during college using a basic model of credit risk that includes socialization processes influencing college student financial decisions. The empirical analysis uses data from the 2010 Ohio Student Financial Wellness Study. Results provide evidence of male overconfidence in financial decision making, as males are less likely than females to predict repayment difficulties. Socialization process variables, including financial management practices, financial parenting communication, and expected economic returns from education, are strongly associated with anticipated debt repayment difficulty. Inclusion of these process variables in the model results in loss of explanatory power of many of the traditional individual success variables, such as grade point average, and graduation plans.

Comments

this is an article from Journal of Student Financial Aid, (2017); 47(2). 111-135. Posted with permission.

Copyright Owner

National Association of Student Financial Aid Administrators

Language

en

File Format

application/pdf

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