The Impact of Student Loans on Borrowers: Consumption Patterns and Attitudes towards Repayment. Evidence from the New England Student Loan Survey.

Autor/inn/en	Baum, Sandy; Schwartz, Saul
Institution	Massachusetts Higher Education Assistance Corp., Boston.; New England Education Loan Marketing Corp.
Titel	The Impact of Student Loans on Borrowers: Consumption Patterns and Attitudes towards Repayment. Evidence from the New England Student Loan Survey.
Quelle	(1988), (23 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Monographie
Schlagwörter	Quantitative Daten; Academic Persistence; Access to Education; College Attendance; College Choice; College Graduates; College Students; Debt (Financial); Higher Education; Loan Repayment; Student Attitudes; Student Loan Programs + Suchen Sie Ihr Suchwort? Education; Access; Bildung; Zugang; Bildungszugang; College; Colleges; Attendance; Hochschule; Fachhochschule; Anwesenheit; Studienortwahl; Hochschulabsolvent; Hochschulabsolventin; Collegestudent; Hochschulbildung; Hochschulsystem; Hochschulwesen; Schülerverhalten
Abstract	The extent to which educational debt is burdensome for borrowers who are currently in repayment was studied with attention to the actual impact of loan repayment on economic behavior and the perceptions of repayers concerning that impact. Opinions of borrowers concerning the role of student loans in providing access to and choice among higher education institutions were also considered. The data came from a mail survey of a random sample of 2,000 borrowers who were currently paying off their student loans. A 70% response rate was achieved. All recipients borrowed from the Guaranteed Student Loan Program, and one-third also borrowed from the National Direct Student Loan program. It was found that the number of borrowers owing more than $10,000 and paying $150 a month or more was rising, but these students were earning more money because of their education. Two-thirds of respondents said the availability of loans was very or extremely important in allowing them to continue their education after high school. About 55% said the loans were crucial in allowing them to enroll in the particular institution they attended. A similar majority of borrowers felt that the availability of loans allowed them to stay in school to complete their degrees. 22 references. (SW)
Erfasst von	ERIC (Education Resources Information Center), Washington, DC