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The Influence of Student Loan Debt on Financial Satisfaction

Author

Listed:
  • Cliff A. Robb

    () (University of Wisconsin-Madison)

  • Swarn Chatterjee

    () (University of Georgia)

  • Nilton Porto

    () (University of Rhode Island)

  • Brenda J. Cude

    () (University of Georgia)

Abstract

This research examined the influence of student loan debt on financial satisfaction using a sample of adults ages 18–54 from the 2015 National Financial Capability Study (NFCS). The study took advantage of the expanded set of variables related to student loan debt that was added to the 2015 wave of the NFCS survey. Results provided mixed evidence of student loan debt serving as an influential factor on consumer financial satisfaction. Whereas borrowing from multiple sources (federal and private) or private lenders only was associated with a lower likelihood of respondents indicating that they would make the same borrowing decisions, having student loan debt was not significantly associated with financial satisfaction. Implications for policy are considered.

Suggested Citation

  • Cliff A. Robb & Swarn Chatterjee & Nilton Porto & Brenda J. Cude, 2019. "The Influence of Student Loan Debt on Financial Satisfaction," Journal of Family and Economic Issues, Springer, vol. 40(1), pages 51-73, March.
  • Handle: RePEc:kap:jfamec:v:40:y:2019:i:1:d:10.1007_s10834-018-9599-y
    DOI: 10.1007/s10834-018-9599-y
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    References listed on IDEAS

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