Abstract
Recent literature suggests that the persistent gender wage gap, joined with a larger proportion of student loan debt, reduces the financial benefits of a college degree for women. Grounded in the theory of human capital and behavioral finance, this study investigates gender differences in student loan decisions using an experimental survey design with the online data collection. Participants (n = 1926) were randomly assigned to a treatment scenario about whether to enter college or the workforce that was manipulated by attribute frames of a gain, loss, or aspiration and varied by the gender of the character in a hypothetical scenario. The attribute frames did not influence the evaluation of student loan decisions. No significant gender differences were found in the evaluation of student loan borrowing or the experimental treatment scenarios, suggesting societal movement towards more gender-neutral attitudes regarding student loan borrowing and degree-seeking motivations.
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