Student Loan Research Articles

Exploring the Relationship of Enrollment in IDR to Borrower Demographics and Financial Outcomes

As federal policymakers consider changes to income-driven repayment (IDR) schemes, research examining the characteristics and financial behaviors of student loan borrowers participating in IDR is necessary. Using the nationally representative Survey of Consumer Finances, we examined the demographics of IDR enrollment. Counter to expectations, low-income borrowers, and borrowers with high debt-to-income ratios are less likely to enroll in IDR. Conditional on having a large amount of debt, married women of color are likely to enroll in IDR programs. Findings concerning IDR participation may be highly sensitive to how groups are defined and what covariates are in models. IDR participation does not predict engagement in other financial behaviors such as retirement savings or homeownership.

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.

How to Enhance the Practical Teaching of Student Finance and Accounting Under the New Curriculum Reform

At the current stage, the new curriculum reform concept is deeply rooted in the hearts of the people. Under the influence of this, finance and accounting teachers begin to pay more and more attention to the subject status of students in teaching, 
 pay more and more attention to meet the financial learning needs of students in teaching, pay attention to the training of students’ 
 financial application ability in teaching. This paper discusses how to further optimize the teaching of finance and accounting from 
 the perspective of the importance and diversity of practical teaching.

Exploring the Characteristics Associated With Food Insecurity Experienced by Graduate Students in a School of Health Professions

ObjectivesFood insecurity (FI) affects between 11% and 51% of health sciences graduate students attending universities across the United States. This study aimed to describe the food security status of health sciences graduate students during the COVID-19 pandemic and to determine the educational, social, and economic characteristics associated with having food insecurity. MethodsThis was a secondary analysis of data from a cross-sectional study of 579 health sciences graduate students attending a northeastern university who responded to a survey between January and March 2021. The United States Department of Agriculture (USDA) 6-item Short Form Food Security Survey was used to assess food security status. Descriptive statistics and Chi-Square tests were used to identify factors associated with FI. ResultsThe majority of the sample was female (69.9%), non-white (57.4%), in a doctoral program (73.2%), and had a median age of 26.0 years. Sixty-seven % reported an annual personal income below $25,000, primarily sourced from student loans, grants, and family support; 20% reported supporting someone else with their annual personal income. Nineteen and three-tenths % (19.3%) of the health sciences graduate students had low or very low food security status. Those who financially supported someone else were significantly more likely to have FI (p = 0.04) than who did not financially support someone else. Those who lost employment income during the COVID-19 pandemic were more likely to experience FI. (p < 0.001) than those who did not have lost or reduced income. ConclusionsFactors significantly associated with FI were income loss and financially supporting someone other than themselves. Qualitative research on student finances may further define the characteristics of health sciences graduate students who are at risk for FI. University-sponsored student health screenings for FI and targeted outreach to address it are needed. Funding SourcesDepartment of Clinical and Preventive Nutrition Sciences at Rutgers University funded the gift cards for the raffle.

The Incidence of Student Loan Subsidies: Evidence from the PLUS Program

AbstractHow much do students benefit from student loan subsidies? We investigate this question, exploiting a natural experiment: a demand shock due to the 2011 tightening of credit standards in the PLUS program. We first establish that the Bennett hypothesis is best explained by colleges charging large markups over their marginal costs, rather than by advantageous selection. Then we use our results to estimate that students plausibly capture less than 60 cents of each dollar of resources expended on loan subsidies. We discuss alternative approaches that would more directly benefit students.

Trends and Effects of Privatization on Universities in Canada

With the rise of privatization of universities across Canada in the last decade, it has become increasingly important to understand its impact on students both financially and on the universities themselves. While many previous papers analyze trends or the benefits/disadvantages of privatization of public education, this paper focuses on trends of funding sources in universities, in particular, government spending, student tuition, increased private donations, and student loans. Specifically, this paper will delve into the trends over time, particularly focusing on the recent last two decades. &#x0D; The main conclusion to be reached by this paper is a look at privatization through the lens of a decrease in government spending and increased presence of corporate sponsorship, changes in tuition, and changes in overall student debt. Using data from public sources as well as past papers and analyzing these have led to several conclusions. Public spending has decreased through reduced government spending as a percentage of operating revenue. This in turn has led universities to increase the need for other sources of funding, more notably, through tuition and private donations from individuals or corporations. Both these sources have increased as a source of funding overtime. Moreso, while domestically tuition has grown at a more or less normal rate, international student tuition has skyrocketed. Next, it has been shown that increased tuition has direct effects on student debt which has also been shown to increase overtime. Lastly, private donations and non-governmental grants from both individuals and corporations have increased significantly.

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.

ISLAMIC FINANCIAL PLANNING: KONSEP LITERASI KEUANGAN SYARIAH SEBAGAI ALTERNATIF PERENCANAAN FINANSIAL BAGI MAHASISWA

In this modern era, financial literacy is one of the most important substance. Financial literacy is an alternative strategy to building economic growth and financial stability to survive and face the diversity of services available. The concept of Islamic finance is managing finances better, and being smart for choosing halal and profitable investments. The role of students regarding the level of sharia literacy is needed to disseminate it to the community which will ultimately be implemented by the community itself. Improving financial literacy must be a program at every university for all students because the role of financial regulation, according to sharia is very important for a good level financial literacy. This study uses a qualitative research method with a descriptive approach. The technique used to collect data in this research is a questionnaire. The population of this research is Indonesian Muslim's students by using purposive sampling technique. The results show that most Indonesian Muslim students have some problems in managing finances. This happens because of the lack of socialization related to Islamic Financial Planning so that students find it difficult to apply it in everyday life. There needs to be long-term socialization so that students can understand it well.&#x0D; Keywords; Islamic Financial Literacy; Islamic Financial Planning; Student Finance

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.

A Review of Best Papers in Personal Finance: 2008–2020

Since 2009, the Family &amp; Consumer Sciences Research Journal (FCSRJ) has annually selected the Best Papers published in each of the subdisciplines of FCSRJ. The authors are honored at the June annual conference of the American Association of Family and Consumer Sciences (AAFCS). This paper focuses on the 13 Best Papers in Personal Finance for the time period of 2008 to 2020 and also includes five additional papers in Personal Finance in which the author was designated as an Emerging Scholar for that specific year. The results demonstrated the importance of the history of home management, food insecurity, college student financial behavior, college student loans, housing, and retirement and saving decisions.

German nursing study programs from the students' perspective: First results of a nationwide longitudinal study

German nursing study programs from the students' perspective: First results of a nationwide longitudinal study Abstract. Background: The Nursing Professions Act establishes a concrete framework for academic nursing education in Germany for the first time. The primary qualifying nursing courses started in 2020 and will be accompanied by a systematic reporting of students' experiences over a period of three years. Aims: The article presents the results of the initial survey period (2021) on the students' point of view. Challenges and the need for further regulation of the primary qualifying nursing studies are analyzed and approaches to solutions are developed. Methods: The online survey is designed as a longitudinal cohort study with three measurement periods (2021, 2022, 2023). A descriptive analysis considers data of N = 57 students in the initial survey period. Results: The primary qualifying nursing study program is rated good overall (overall grade 2.32). However, one third (35.85%) are more critical in their assessments. Every second student perceives a need for adjustment in the financing of students. Learning in clinical placement settings often does not meet students' expectations. 86% of respondents report that nursing practice sites are insufficiently informed about students' qualification. Conclusions: Students' financing, and in particular the payment of assignments in the nursing practice, represents a regulatory gap with need for short-term solutions. For learning in nursing practice, there is a need for an enhanced practical placement guidance that is better geared to academic nursing education. This is accompanied by the need for a more specific definition of later professional fields and job profiles.

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.

Intergroup disparity among student loan borrowers

Intergroup disparity among student loan borrowers

Point shaving in NCAA Men’s Basketball: Behavioral finance, scale, and deterrence

We examine point-shaving corruption in NCAA Men’s Basketball betting markets, which has persisted despite deterrence policies. We collect data on players indicted or implicated for point-shaving within the last 50 years and find that: (1) the act is significantly more common among senior, or final-year, players and (2) lack of deterrence leverage is an important factor in the representative player’s decision calculus. Lastly, we analyze properties of a potential behavioral finance policy to further deter point-shaving, whereby players receive a grant (athletic scholarship) that retroactively converts into a market-rate student loan given malfeasance. The policy’s deterrence properties are examined theoretically.

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.

A Note on the Expected Expiration of Federal Student Loan Forbearance

On April 6, 2022, the Department of Education (DoEd) announced a new extension on the forbearance provision for federal student loans, which is now set to expire on August 31, 2022, almost 30 months after being set for the first time. These measures—originally intended for a period of 60 days—applied exclusively to federal student loans owned by the Department of Education, a little more than 80 percent of the current $1.75 trillion outstanding student loan debt.

Experiences of United States Graduates at the Latin American Medical School in Cuba: A Road Less Traveled.

Determine if United States graduates of the Latin American Medical School in Cuba: 1) provide primary health care to disadvantaged populations; 2) complete licensing exams and obtain residencies; and 3) accrue additional debt during their medical education. A Qualtrics secure web-based survey was provided to 158 graduates via email, completed anonymously. Responses were compiled and descriptive statistics generated. Fifty-six valid surveys were returned, for a response rate of 35.4%. Chi-square analysis showed no statistically significant differences between survey respondents and the sampling frame. Most graduates are people of color; 68% work in clinical medicine; of these, 90% are in primary care, with 100% serving disadvantaged populations. Most accrued no further educational loan debt. United States graduates of the Latin American Medical School work in primary care with disadvantaged populations. Graduates accrue little additional student loan debt.

Washington View: Is forgive and forget the best policy?

In its first year, the Biden administration played it safe with public education, giving schools the funding they needed to cope with the pandemic and requiring little federal oversight. But in March 2022, the administration began responding to pressure to do something about the huge amount of student loan debt Americans are carrying. Maria Ferguson discusses the ensuing debate about whether cancelling student loan debt is the most fiscally responsible way to assist Americans in need.

Financial Capability, Financial Education, and Student Loan Debt: Expected and Unexpected Results

This study used the 2015 National Financial Capability Study to investigate the relationships among financial capability, financial education, and student loan debt outcomes. Specifically, this study examines four student loan outcomes: delinquency, stress, preparation, and satisfaction among borrowers who obtained loans for themselves. Three forms of financial capability (objective financial knowledge, subjective financial knowledge, and perceived financial capability) and two forms of financial education (formal school/workplace education and informal parental education) were used as potential predictors in the study. The Probit regression results showed that expectedly, several financial capability and financial education factors were positively associated with desirable financial outcomes such as loan calculation and loan satisfaction, and negatively associated with undesirable outcomes such as loan stress and loan delinquency. However, this study also showed several unexpected results. For example, objective financial knowledge was negatively associated with loan calculation and loan satisfaction, and subjective knowledge and formal financial education were positively associated with loan delinquency.

Education Loan Prediction Analysis

Education Loan Prediction Analysis