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What Shapes Assessment of Ability to Pay for Children's College Education?

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  • YOUNGMI KIM
  • JIN HUANG
  • MICHAEL SHERRADEN

Abstract

type="main" xml:id="joca12049-abs-0001"> Many parents have concerns about the cost of their child's college and lack information about preparing for those expenses. Parents' assessment of ability to pay for college are likely to influence their investments in a child's education, and may in turn affect the child's educational commitment and attainment. These potential outcomes lead us to investigate what accounts for parents' assessment. We use logistic regression to analyze data collected from mothers with newborn children ( N = 2,566). The findings demonstrate that the mother's assessment of ability to pay for the child's education are significantly associated with material hardship experiences, financial management skills, educational expectations, and her education level. We discuss research and policy implications of promoting positive financial assessment for college early.

Suggested Citation

  • Youngmi Kim & Jin Huang & Michael Sherraden, 2014. "What Shapes Assessment of Ability to Pay for Children's College Education?," Journal of Consumer Affairs, Wiley Blackwell, vol. 48(3), pages 486-514, October.
    • Handle: RePEc:bla:jconsa:v:48:y:2014:i:3:p:486-514
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    File URL: http://hdl.handle.net/10.1111/joca.12049
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    1. Congrong Ouyang & Sherman D. Hanna & Kyoung Tae Kim, 2019. "Are Asian Households in the U.S. More Likely than Other Households to Help Children with College Costs?," Journal of Family and Economic Issues, Springer, vol. 40(3), pages 540-552, September.

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