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You are here: Home / MPRC People / Jinhee Kim, Ph.D. / JinHee Kim Publications / The cost of access: Racial disparities in student loan burdens of young adults

J. Kim, S. Chatterjee, J. Young, and U.J. Moon (2017)

The cost of access: Racial disparities in student loan burdens of young adults

College Student Journal, 51(1):99-114.

Student loans have become a social-financial issue in the United States. This study uses a nationally representative dataset to examine the association between financial socialization and student loan borrowing behavior of individuals after controlling a number of different socio-demographic factors. Results show that the financial burdens of college education, such as borrowing and the dollar amounts of a loan, are higher for Blacks, however, their college attendance is significantly lower than Whites. Blacks are more independent and receive less financial support from family and relatives than Whites. The wealth gap that exists between Black and White parents may contribute to the disparity. Additional financial resources for higher education as well as financial education and counseling may be needed to create better academic access for the vulnerable underserved groups including minority students.

Statistical methods, Kim, Racial Differences, Social and Economic Inequality, Gender, Family, and Social Change, Family formation, Migration and Immigrant Processes, Student issues
Student Loan Programs, Student Costs, Predictor Variables, Student Characteristics, Multivariate Analysis, Racial Differences, Credit (Finance), Family Characteristics, Pretesting, Parent Financial Contribution, Student Records, Access to Education, Statistical Analysis, Young Adults, College Students
ERIC Number: EJ1132262

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