The Influence of Student Loan Debt on Financial Satisfaction
Document Type
Article
Date of Original Version
3-15-2019
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.
Publication Title, e.g., Journal
Journal of Family and Economic Issues
Volume
40
Issue
1
Citation/Publisher Attribution
Robb, Cliff A., Swarn Chatterjee, Nilton Porto, and Brenda J. Cude. "The Influence of Student Loan Debt on Financial Satisfaction." Journal of Family and Economic Issues 40, 1 (2019): 51-73. doi: 10.1007/s10834-018-9599-y.