How Financial Literacy, Federal Aid Knowledge, and Credit Market Experience Predict Loan Aversion for Education
Dados Bibliográficos
| ID | 5741385 |
|---|---|
| Autores | Angela Boatman (0000-0003-3890-8164, autor correspondente), Brent J Evans (0000-0002-9676-9695) |
| Ano | 2017 |
| Volume | 671 |
| Fascículo | 1 |
| Páginas | 49-68 |
| Data de publicação | 2017-05-01 |
| Peer Reviewed | Sim |
| Open Access | Sim |
| Tipo | ARTICLE |
| Periódico | The Annals of the American Academy of Political and Social Science (JOURNAL) |
| Identificadores do periódico | ISSN: 0002-7162 • E-ISSN: 1552-3349 |
| Editora | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1177/0002716217695779 |
| OpenAlex | W2608181630 |
| Idioma | EN |
| Citações recebidas | 9 |
| Referências citadas | 35 |
Many students are averse to taking out loans to pay for education-a phenomenon that is commonly discussed but rarely systematically analyzed. This study explores the relationship between student loan aversion and individual financial characteristics. In this analysis, we rely on a unique dataset of survey responses from more than 5,000 high school seniors, community college students who did and did not borrow for higher education, and adults without a college degree. Regression analyses, using a robust set of controls and institutional fixed effects, show that higher financial literacy and higher knowledge of federal student loans are related to lower loan aversion for education. The magnitude of these effects is large, as much as a 30 to 50 percent reduction in loan aversion in some samples. There is also evidence that prior experience with payday lending is related to increased loan aversion for community college students who did not borrow for college
Actuarial science · Business · Community college · Demographic economics · Economic growth · Economics · Expected utility hypothesis · Financial economics · Financial literacy · Literacy · Loan · Medical education · Risk aversion (psychology) · Finance · Financial Literacy, Pension, Retirement Analysis · Fiscal Policy and Economic Growth · Housing Market and Economics · Medicine · Psychology
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| Obras citantes distintas | 9 |
|---|---|
| Citações por ano | 1,29 |
| Intervalo de citações | 2019 - 2026 (8) |
| Velocidade de citação | current |
| Altamente citado | Não |
| Tipos de citação | Neutras: 9 |