Like Any Other Trap: The Circuitous Path of Student Loan Repayment

Autor/inn/en	Furquim, Fernando; Deane, K. C.; McCall, Brian P.; DesJardins, Stephen L.
Titel	Like Any Other Trap: The Circuitous Path of Student Loan Repayment
Quelle	In: AERA Open, 8 (2022) 1, (19 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Zusatzinformation	ORCID (Furquim, Fernando) Weitere Informationen
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
Schlagwörter	Student Loan Programs; Loan Repayment; Loan Default; Racial Differences; Ethnicity; Social Class; Student Characteristics; Institutional Characteristics; Debt (Financial); Higher Education; Beginning Postsecondary Students Longitudinal Study + Suchen Sie Ihr Suchwort? Schuldnerverzug; Rassenunterschied; Ethnizität; Social classes; Soziale Klasse; Hochschulbildung; Hochschulsystem; Hochschulwesen
Abstract	This paper studies the patterns of individuals' student loan repayment for up to 12 years, tracking borrowers through the formative ages of the early 20s to the late 30s. Using social sequence and cluster analysis to understand these longitudinal repayment histories, we identify five archetypes of loan repayment that describe borrowers' experiences: persistent defaulters, perpetual payers, rapid full payers, late full payers, and consolidators. We find significant stratification by race/ethnicity, social class, and institutional sector into repayment clusters, with minoritized borrowers and those attending for-profit institutions more likely to experience adverse borrowing outcomes and to experience them for longer. (As Provided).
Anmerkungen	SAGE Publications. 2455 Teller Road, Thousand Oaks, CA 91320. Tel: 800-818-7243; Tel: 805-499-9774; Fax: 800-583-2665; e-mail: journals@sagepub.com; Web site: http://sagepub.com
Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2024/1/01