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Spotlight on Research: Youth Debt and College Graduation

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  • Marvin M. Smith

Abstract

The rise in debt among youth to finance their higher education has engendered a great deal of discussion. Much of the attention has been focused on the angst that arises when the debt has to be repaid. This has been especially burdensome on students from lower-income households. While this is worthy of concern, another aspect of the educational-related debt that is being examined is whether the debt was worth it. More specifically, what is the association of the debt with the borrower?s graduation from college? Some investigations not only consider the relationship between educational loans and college graduation but also include the influence of the student?s family?s income. A recent study by Min Zhan has augmented the latter inquiry by expanding the amount of debt to include credit card debt related to educational expenses (in addition to educational loans), as well as taking into account the influence of parental financial assets (net worth) on a student?s completion of a college degree.1 What follows is a summary of her study.

Suggested Citation

  • Marvin M. Smith, 2013. "Spotlight on Research: Youth Debt and College Graduation," Cascade, Federal Reserve Bank of Philadelphia, vol. 1, January.
    • Handle: RePEc:fip:fedpca:0028
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    Keywords

    low-income; debt; student loans;
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