Loan Debt Research Articles

Focus on student‐centered strategies to enhance value of college

College is where students forge their identities, find their communities, chart the course of their careers, and learn the knowledge and skills to succeed. With tuition rising and student loan debt looming, the pandemic brought the question of the value of higher education to the forefront for students, parents, and institutions.

Leadership aspiration: An intersectional analysis of racial and gender equity in pharmacy

BackgroundThe glass ceiling is a metaphor used to describe an invisible barrier that prevents an underrepresented group from rising beyond a certain level. Among pharmacists, underrepresented groups face various barriers and limitations to their successes. ObjectivesThe purpose of this study was to apply the intersectionality framework to data collected from the 2019 National Pharmacist Workforce Study (NPWS) to understand the association of gender and race with leadership aspiration among pharmacists, including differences in perceived barriers and attractors for pursuing leadership. MethodsThe 2019 NPWS was conducted using an electronic Qualtrics survey. Three e-mails containing the survey link were sent to a systematic random sample of 94,803 pharmacists through the National Association of Boards of Pharmacy Foundation e-profile system. The 2019 NPWS had an overall response rate of 6% (5705/94,803). A total of 8466 pharmacists clicked on the survey link, resulting in a usable response rate of 67.3% (5705/8466). Data were analyzed in SPSS software using descriptive and Pearson’s r and chi-square test statistics. ResultsBlack, Indigenous, and People of Color (BIPOC) pharmacists reported holding 10.7% of all leadership positions. Leadership positions included manager, assistant manager, executive, dean, director, chief pharmacy officer, owner or partner, and other leadership position types. White men and women reported the lowest interest in leadership (38.8% and 37.7%), whereas Black men (65.1%), Latinas (59.2%), Black women (58.5%), and Latinos (57.1%) had the highest interest in leadership. “The ability to make an impact” was the most frequently selected attractor for wanting to pursue leadership, selected by 92.5% and 79.6% of Black men and women, respectively, 77.8% of Other women, and 76.9% of Latinos. At graduation from pharmacy school, the student debt loan average of all graduation years ranged from $63,886 (± $73,701) for Other men to $112,384 (± $105,417) for Black women. Higher student loan debt was positively correlated with wanting to pursue a leadership position (r = 0.22, P < 0.001). Black women graduating 2011-2019 had the highest student loan debt at graduation ($194,456 ± $88,898). ConclusionInterest in leadership positions by BIPOC pharmacists compared with reported leadership roles were inversely correlated. Understanding the discrepancy in interest in leadership and reported leadership positions held, particularly with relation to race and gender, is essential to understanding equity in pharmacy leadership. Further research is warranted to understand the factors that impede the ascension of women and underrepresented pharmacists into leadership positions.

Manufacturing the Debt Republic of America: Mounting Student Loan Debt and Dismantling Its Neoliberal Political Ideology

This paper explores the political debate on student loan forgiveness from a religious (Christian) ethical perspective. In so doing, I answer the three specific questions. First, what are the prospects and limits of different political approaches to the issue? Second, what are the structural or ideological backgrounds that have given birth to the student loan crisis, but are not fully addressed by the president’s executive ordering? Last, what is the Christian ethical response to the issue, and how could it be theologically justified? Answering these questions, I argue that it is time now for American society to reckon with the neoliberal economy of debt that has relentlessly undertaken every aspect of our social and political lives. I also contend that student debt should be regarded as a form of social gift offered by society to the future generation.

When Debt Deters: Student Loans as a Predictor of Education-Job Match Among Arts Bachelor’s Graduates

Education-job match is often associated with enhanced well-being and career satisfaction, although existing research suggests that arts college graduates are less likely to experience education-job match than graduates of other disciplines. As research also increasingly suggests that student loan debt may influence college graduates’ access to lower-paying industries and careers, this study uses a cross-sectional dataset from the Strategic National Arts Alumni Project to investigate how student loan debt predicts education-job match (entry into an arts position) among arts bachelor’s graduates. Even when controlling for individual and institutional factors, results show that arts bachelor’s graduates with over US$10,000 in undergraduate student loan debt are less likely to enter arts careers than those with no loans. Findings suggest that arts careers may be less accessible for college graduates who are most dependent on student loans, with important implications for diversity and equity within the arts.

Loan-to-Value Regulations on Mortgages and the Use and Refinancing of Unsecured Debt

We study how loan-to-value (LTV) regulations on mortgages can change the use of unsecured debt and mortgage refinancing behaviors for households at or near the regulatory limits imposed. This study focuses on the differences in unsecured debt market participation between Norway and Sweden, where LTV regulations are in effect, and Denmark and earlier studies, where no LTV limits are imposed. We analyze the unsecured debt loan market using data from a repeated household survey from 2019 and 2021 with 4,010 and 3,023 respondents, respectively. We also explore mortgage lending and unsecured debt using a unique micro data set covering 7,385 Norwegian households. Our analysis shows that unsecured debt increases with LTV level but that households’ refinancing behaviors explain the lower increase in unsecured household debt at or near the regulatory limit for LTV on mortgages. We further demonstrate that an increasing number of households cannot refinance unsecured debt with mortgage debt. This lack of ability can lead to a rapid increase in the number of financially vulnerable households. We are the first to demonstrate that changes in different debt sources and refinancing patterns can increase the number of financially vulnerable households when LTV regulations are imposed solely on mortgage debt.

The Book Costs How Much??? Textbook Cost & OER Awareness in Political Science

Introductory level political science courses are a near-universal experience for undergraduate students in the US. Despite the wide occurrence of introductory courses, and the increasing attention paid to student loan debt, the cost of the teaching materials for introductory courses has largely been ignored in political science. This paper brings together several data sources to show how political science has not been attentive to textbook costs and highlight one possible solution, Open Educational Resources (OER), which has the potential to increase access to political science for all students.

Idea File

Encourage alumni to explore student loan debt forgiveness Benchmark tech investments against competitors Consider potential enrollment impact of international competition Review survey findings about graduate enrollment management

New York MH professionals receive boost with $1M donation towards student loan forgiveness

New York City Mayor Eric Adams and NYC Health + Hospitals announced on July 24 the launch of a new student loan forgiveness program for behavioral health providers, funded by a $1 million contribution from an anonymous donor, New York City news outlets have reported. The new program is designed to help attract and retain doctors, nurse practitioners, and other clinicians who care for New Yorkers with mental health or substance use needs as the U.S. faces a national shortage of mental health professionals.mental health professionals. NYC Health + Hospitals will offer psychiatrists, psychiatric nurse practitioners, psychologists, and licensed clinical social workers between $30,000 and $50,000 of student loan debt relief in exchange for a three‐year commitment to serve the public health system. The news was welcomed by New York State Office of Mental Health Commissioner Dr. Ann Marie T. Sullivan. “The nationwide shortage of health care workers has impacted facilities and providers all across the country, at a time when the stress of the COVID‐19 pandemic has increased the need for services,” she said.

How to help your students get the most out of college

College is where students forge their identities, find their communities, chart the course of their careers, and learn the knowledge and skills to succeed. With tuition rising and student loan debt looming, the pandemic brought the question of the value of higher education to the forefront for students, parents, and institutions.

Salary and student loan debt for oncology social workers: Findings from the oncology social work competencies, opportunities, roles and expertise (CORE) survey

Purpose To better understand the current salaries and student loan debt levels among oncology social workers (OSWs). Design Cross-sectional study using online survey. Sample OSWs across a variety of cancer care settings in the U.S. (n = 1055). Methods Salary and debt were collected via single ordinal variables. Crosstabs and chi-square tests were used to examine whether salary and debt differ by demographic and work-related characteristics. Findings Median OSW salaries ranged from $60,001 to $70,000. Three-fourths of OSWs reported having student loan debt. Younger and recently graduated OSWs and OSWs of color were more likely to have greater student loan debt than their counterparts. Conclusions Relative low salary and debt burden have important implications for securing a current and future OSW workforce. Implications for Psychosocial Policy Adequate reimbursement and loan repayment opportunities for frontline OSWs will better secure this workforce. Advocacy efforts to identify OSWs qualified for loan forgiveness programs are warranted.

Does Physical Activity Make Russian Youth Happier?

The article considers the relationship between the indicators of physical activity of youth in Russia and the level of their life satisfaction.The authors draw attention to the importance of understanding how physical culture and sports can contribute to the formation of an indicator of the subjective well-being of youth in Russia (on the example of students). The study is based on data from the Russian Longitudinal MonitoringSurvey – Higher School of Economics (RLMS – HSE). For empirical analysis were used individual panel data for 2009–2019. The analyzed sample includes full-time students of Russian universities, technical colleges and colleges aged 16 to 25 (2918 men and 3417 women).The first part of the article analyzes trends and characteristics of the physical activity of Russian students in recent years before the COVID-19 pandemic, reveals preferences for engaging in specific types of physical activity and sports, analyzes the intensity of these activities and assesses life satisfaction of Russian students depending on their level of physical activity and sports.Based on the patterns identified in the first part of the article, hypotheses are formulated about the presence of a positive correlation between the indicators of physical activity of students (physical culture and sports activities and their intensity) and their subjective assessment of life satisfaction. The results of econometric testing of the hypotheses are presented in the second part of the article. Ordered logit regression on panel data with a random individual effect was used for the analysis. Evaluations were conducted for each gender group separately. When constructing the corresponding models, in addition to physical activity indicators, a wide range of individual factors that could affect the life satisfaction of young residents of our country were also taken into account, namely age, gender, place of residence, availability of own housing, self-assessment of health status, body mass index, smoking habit, marital status, income, loan debts of household.The regression analysis demonstrates that, all else being equal, a positive correlation between the physical activity and its intensity, on one hand, and level of life satisfaction on the other, but exclusively for male students. For women, however, only high-intensity physical activity leads to an increase in their level of life satisfaction.According to results of the study, the authors formulated several recommendations aimed at stimulating the physical activity of young students, and concluded that the implementation of special programs to revitalize the lifestyle of Russian students, taking into account the patterns identified in the work, can contribute both to an increase in the share of physically active youth and the growth of the subjective well-being of this category of the population.

An Intervention Strategy Addressing Implicit Bias in Scholarships

White students receive a disproportionate amount of private scholarships compared to their Black, Indigenous, and people of color (BIPOC) peers (Kantrowitz, 2011). Scholarships provide important financial support for higher education and BIPOC students are more likely to graduate with loan debt compared to their White peers (Mishory et al., 2019). This loan debt is higher on average for BIPOC students compared to White students (Mishory et al., 2019). Scholarships could provide funding to reduce loan debt. In considering administrators who are involved in selection processes such as scholarship awarding, their implicit bias can impact judgment (Capers et al., 2017). I have sought to lessen the potential impact of implicit bias on scholarship administration through a low-cost and adaptable intervention strategy which is being piloted at the University of Wisconsin-Madison. The intervention includes a website, holistic training modules, campus communications and an annual meeting.

The Relationship Between Financial Stress and College Retention Rates

This study examined the relationship between financial stress and student retention for post-secondary students. Data from 2014 collected at a Pacific Northwest University using The Ohio State's National Student Financial Wellness Study were used to examine the students’ reported levels of stress related to finances. Students reported the most financial stress came from their student loan debt. Data analyses showed significance between participants who reported “large” and “extreme” amounts of stress from debt and their decisions to reduce course work, drop out, and/or take a break. Although future research is needed to determine the exact relationship between financial stress and retention rates, it is important to acknowledge that financial stress influences students’ educational decisions.

Current Trends in Bank Financing of Small and Medium-Sized Businesses in Russia

The development of small and medium-sized businesses in Russia is associated with a number of problems, including low availability of bank loans as the main source of financing activity. During the pandemic, measures provided at the state level to support entrepreneurs helped to mitigate the negative consequences, however, the reduction in the number of small and medium-sized businesses continued. The purpose of the study is to analyze current trends in the development of bank financing of small and medium-sized businesses, the impact of the pandemic on its main indicators. The article examines the dynamics of the main indicators of bank financing of small and medium-sized businesses in 2019–2021: loan debts, including overdue loans, the volume of loans issued. With the help of Spearman's rank correlation coefficient, the relationship between the indicator of the debt burden of small and medium-sized businesses and the level of overdue debt on loans granted to small and medium-sized businesses in the context of federal districts is determined. The study showed that the relationship between these factors is weak, therefore, at present, the level of the debt burden of entrepreneurs does not significantly affect the formation of overdue loans, which puts forward the task of further searching for the causes of its occurrence and ways to reduce it.

MEASURES OF FINANCIAL BACK-UP FOR POPULATION UNDER FINACIAL SANCTIONS AND DETERIORATION OF GEOPOLITICAL AND ECONOMIC SITUATUTION

The article analyzes measures of financial back-up for population as a response to the latest round of sanctions against the branches of Russian economy. The author investigates measures of financial back-up for population related to loan payments, taxes, deposit operations, property insurance, employment services. The article aims to describe bank problems, caused by the increase in deposit rates resulted from the growth of key interest rate and their solutions. The author carries out the analysis of dynamics of crediting volumes and increase loan debts, output and input of population money to the bank on the background of the commencement of special military operation in Ukraine. The article indicates the amendments in RF Budget Code, connected with the implementation of 2022 Federal budget that concerns the authority of RF Government in the performance of budget provisions aimed to back up activities to prevent from the impact of worsening geopolitical and economic situation on the economic branches of Russia. The amendments in authority of regional and municipal powers are also considered.

The Effects of Undergraduate Financing on Advanced Degree Attainment

Abstract This study examines the effects of undergraduate financing on subsequent advanced degree attainment in a context characterized by a shift away from traditional grant aid programs and toward widespread student loans. Using data from the National Survey of College Graduates, 2SLS Lewbel method regressions estimate the effects of having received undergraduate grant aid and having student loan debt on the chances of attaining an advanced degree during the next ten years. Results suggest a large positive influence of receiving undergraduate grant aid on advanced degree attainment (+8.5%), thus boosting higher education attainment far beyond only an undergraduate degree across college graduation cohorts between 1986 and 2007. Conversely, having loan debt upon college graduation affected the chances of advanced degree attainment negatively. The increased reliance on loans during undergraduate studies coincided with its long-term (or “spillover”) effect on advanced degree attainment being null in the late 1980s to a substantive deficit of more than 4 percentage—points from the 2000s onward. Counterfactual projection models suggest that loan-taking after the 1992 Higher Education Act suppressed the number of advanced degree holders in the US labor market and will continue to do so given current undergraduate financing patterns.

The Lasting Effects of the Pandemic on Graduate and Professional Education

The coronavirus pandemic caused a shift in the American higher education system. Many institutions switched from in-person to virtual platforms. Since graduate and professional students are more likely than undergraduate students to enroll in a hybrid or online program, they were less affected by the transition to online education. However, the decrease in undergraduate enrollment during the pandemic further squeezed institutional finances showing a decline in international graduate enrollment in the United States. As universities place additional scrutiny on program finances, departments will face pressure to reduce the number of assistantships that are not supported by external grants and contracts, which will disproportionately affect international enrollment. Additionally, the large graduate and professional student loan debt and benefits they receive from repayment plans are issues. Congress and the U.S. Department of Education may pursue efforts to limit the benefits that graduate and professional students receive from the federal student loan program.

Student loan debt and financial education: a qualitative analysis of resident perceptions and implications for resident well-being

ABSTRACT High educational debt is prevalent among resident physicians and correlates with adverse well-being outcomes, including symptoms of stress and burnout. Residents also report low financial literacy levels, affecting financial well-being. Understanding resident viewpoints toward financial well-being initiatives is crucial to develop targeted resident financial well-being programs. This study aims to examine residents’ experiences financing their medical education and how these experiences influence well-being and attitudes toward financial education in residency. We recruited residents from a Southern California health system with residency programs in Family Medicine, Internal Medicine, General Surgery, Orthopaedic Surgery, and Psychiatry. We contacted residents by email and text message to participate in semi-structured interviews. We conducted interviews from October 2020 to March 2021 and analyzed 59 resident interviews using reflexive thematic analysis. Among residents, 76% (45/59) had ≥ $200,000 in student loans. Residents perceived mounting medical education debt as unfairly burdensome for trainees engaged in socially beneficial work, leaving residents feeling undervalued – a feeling heightened by the stressors of the COVID-19 pandemic – and hampering well-being. Compartmentalizing debt attenuated financial stressors but often made financial education seem less pressing. A subset of residents described how financial planning restored some agency and enhanced well-being, noting that protected didactic time for financial education was crucial. Resident interviews provide practical guidance regarding designing financial education sessions. Desired education included managing debt, retirement planning, and the business of medicine. How residents framed educational debt and their degree of financial literacy impacted their well-being and sense of agency. Residents proposed that residency programs can aid in stress mitigation by providing residents with skills to help manage debt and plan for retirement. To reduce clinician indebtedness, this approach needs to occur in tandem with systemic changes to financing medical education.

THE EFFECT OF THIRD PARTY FUND, LDR AND OPERATIONAL COSTS ON OPERATIONAL INCOME ON ROA IN PUBLIC CREDIT BANK

The purpose of this study was to determine the effect of Third Party Funds, Loan Debt Ratio and Operational Cost of Operating Income on Return On Assets in Rural Banks in Buleleng Regency. The type of data from this research is quantitative and qualitative data. Sources of data in this study are primary data and secondary data.&#x0D; The problem in this study is whether third- party funds affect the return on assets in rural banks in Buleleng regency, whether the loan debt ratio affects the return on assets in rural banks in Buleleng, whether operational costs of operating income affect the return on assets in rural banks in Buleleng regency and whether third-party funds, loan debt ratio and operating income operational costs affect the return on assets in rural banks in Buleleng regency.&#x0D; The results of this study are that third party funds have a negative and significant effect on return on assets in rural banks in Buleleng Regency, loan to debt ratio has a negative but not significant effect on return on assets in rural banks in Buleleng, operational costs of income operational has a negative and significant effect on return on assets in rural banks in Buleleng Regency and third party funds, loan to debt ratio, and operational costs of operating income have a significant effect on return on assets in rural banks in Buleleng Regency

Student Debt and Cardiovascular Disease Risk Among U.S. Adults in Early Mid-Life

Student loan debt has become common for young adults in the U.S. and is correlated with poor physical and mental health. It is unclear how the accumulation or repayment of student debt is associated with longer-term cardiovascular risks and chronic inflammation. Nationally representative data collected between 1994 and 2018 from >4,000 participants of a U.S. cohort study were analyzed in 2021 to assess the associations among change in student debt between young adulthood and early mid-life, 30-year Framingham cardiovascular disease risk scores, and C-reactive protein levels. Ordinary least squares regression revealed higher cardiovascular disease and C-reactive protein risks among those in households who became indebted or were consistently in debt between young adulthood and early mid-life than among those in households who were either never in debt or repaid their loans. This pattern persisted after adjustments for degree completion, socioeconomic measures, and other sources of debt. These findings provide a benchmark for widening health inequalities among a cohort bearing more student debt than any other in U.S. As student debt accumulates, within-cohort disparities in cardiovascular disease and related morbidities may undermine the health benefits of postsecondary education.