Inequality and Opportunity in a Perfect Storm of Graduate Student Debt

Autor/inn/en	Pyne, Jaymes; Grodsky, Eric
Titel	Inequality and Opportunity in a Perfect Storm of Graduate Student Debt
Quelle	In: Sociology of Education, 93 (2020) 1, S.20-39 (20 Seiten)Infoseite zur Zeitschrift PDF als Volltext (1); PDF als Volltext kostenfreie Datei (2) Verfügbarkeit
Zusatzinformation	ORCID (Pyne, Jaymes)
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0038-0407
DOI	10.1177/0038040719876245
Schlagwörter	Educational Opportunities; Student Financial Aid; Debt (Financial); Graduate Students; Professional Education; Social Differences; Disadvantaged; Disproportionate Representation; Educational Attainment; Costs; Educational Finance; Career Choice; Higher Education; Enrollment Trends; Undergraduate Students; Minority Group Students; Gender Differences; Socioeconomic Status; Race + Suchen Sie Ihr Suchwort? Bildungsangebot; Bildungschance; Finanzielle Beihilfe; Studienfinanzierung; Studienförderung; Graduate Study; Student; Students; Aufbaustudium; Graduiertenstudium; Hauptstudium; Studentin; Berufsausbildung; Sozialer Unterschied; Bildungsabschluss; Bildungsgut; Cost; Kosten; Bildungsfonds; Hochschulbildung; Hochschulsystem; Hochschulwesen; Geschlechterkonflikt; Socio-economic status; Sozioökonomischer Status; Rasse; Abstammung
Abstract	Recent efforts to understand aggregate student loan debt have shifted the focus away from undergraduate borrowing and toward dramatically rising debt among graduate and professional students. We suggest educational debt plays a key role in social stratification by either deterring bachelor's degree holders from disadvantaged and underrepresented backgrounds from pursuing lucrative careers through advanced degree programs or imposing a high cost for entry. We speculate that the ongoing personal financing of advanced degrees, changes to funding in higher education, and increasing returns to and demand for postbaccalaureate degrees have created a perfect storm for those seeking degrees beyond college. We find that aggregate increases in borrowing among advanced degree students between 1996 and 2016 can be explained in part by increasing enrollment rates, particularly among master's degree students, and large, secular increases in graduate and professional students' undergraduate and graduate borrowing. In contrast to undergraduate debt alone, the burden of educational debt among graduate borrowers appears to have fallen on students from lower socioeconomic backgrounds and historically underserved students of color more so than their more advantaged counterparts and on women more so than men. However, we also find that median advanced degree wage premia over those of bachelor's degree holders are substantial for many who graduate with advanced degrees but are particularly high for African American and low socioeconomic status graduates, complicating simple conclusions about the stratification of debt at the postgraduate level. (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2021/2/06