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Nothing to show for it: Financial Distress and Re-Enrollment Aspirations for those with non-degreed debt.

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Title: Nothing to show for it: Financial Distress and Re-Enrollment Aspirations for those with non-degreed debt.
Authors: Jabbari, Jason1 (AUTHOR) jabbari.jason@wustl.edu, Despard, Mathieu2 (AUTHOR), Kondratjeva, Olga1 (AUTHOR), Gupta, Brinda1 (AUTHOR), Grinstein-Weiss, Michal3 (AUTHOR)
Source: Research in Higher Education. Feb2023, Vol. 64 Issue 1, p1-32. 32p. 1 Diagram, 6 Charts, 7 Graphs.
Subject Terms: *Student loan debt, *Diplomas (Education), Financial stress, Financial aid, Debt, Financial policy, Well-being
Abstract: The number of individuals with student loan debt who do not earn their degrees is on the rise; nevertheless, there is little research that demonstrates their current circumstances and future aspirations. We address this knowledge gap by comparing the financial distresses and re-enrollment aspirations of student debt-holders who started college but did not earn a degree—those with non-degreed debt (NDD)—to (a) individuals who have a high school diploma and no student debt, (b) individuals with some college and no student debt, and (c) individuals with a college degree and no student debt, and (d) individuals with a college degree and student debt. Through these "downwards," "sideways," and "upwards" comparisons, we are able to provide a 360 degree view of the unique circumstances and outlooks faced by individuals with non-degreed debt. We find that individuals with NDD had greater odds of experiencing material and healthcare hardships, as well as financial difficulties. Individuals with NDD also had greater levels of financial anxiety and lower levels of financial well-being. Despite these challenges, individuals with NDD were often more optimistic about their future college enrollments and earnings. We discuss the implications of these findings with regards to financial aid policies, debt repayment policies, and college retention and re-enrollment efforts. [ABSTRACT FROM AUTHOR]
Copyright of Research in Higher Education is the property of Springer Nature and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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  Data: Nothing to show for it: Financial Distress and Re-Enrollment Aspirations for those with non-degreed debt.
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  Data: <searchLink fieldCode="JN" term="%22Research+in+Higher+Education%22">Research in Higher Education</searchLink>. Feb2023, Vol. 64 Issue 1, p1-32. 32p. 1 Diagram, 6 Charts, 7 Graphs.
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  Data: *<searchLink fieldCode="DE" term="%22Student+loan+debt%22">Student loan debt</searchLink><br />*<searchLink fieldCode="DE" term="%22Diplomas+%28Education%29%22">Diplomas (Education)</searchLink><br /><searchLink fieldCode="DE" term="%22Financial+stress%22">Financial stress</searchLink><br /><searchLink fieldCode="DE" term="%22Financial+aid%22">Financial aid</searchLink><br /><searchLink fieldCode="DE" term="%22Debt%22">Debt</searchLink><br /><searchLink fieldCode="DE" term="%22Financial+policy%22">Financial policy</searchLink><br /><searchLink fieldCode="DE" term="%22Well-being%22">Well-being</searchLink>
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  Data: The number of individuals with student loan debt who do not earn their degrees is on the rise; nevertheless, there is little research that demonstrates their current circumstances and future aspirations. We address this knowledge gap by comparing the financial distresses and re-enrollment aspirations of student debt-holders who started college but did not earn a degree—those with non-degreed debt (NDD)—to (a) individuals who have a high school diploma and no student debt, (b) individuals with some college and no student debt, and (c) individuals with a college degree and no student debt, and (d) individuals with a college degree and student debt. Through these "downwards," "sideways," and "upwards" comparisons, we are able to provide a 360 degree view of the unique circumstances and outlooks faced by individuals with non-degreed debt. We find that individuals with NDD had greater odds of experiencing material and healthcare hardships, as well as financial difficulties. Individuals with NDD also had greater levels of financial anxiety and lower levels of financial well-being. Despite these challenges, individuals with NDD were often more optimistic about their future college enrollments and earnings. We discuss the implications of these findings with regards to financial aid policies, debt repayment policies, and college retention and re-enrollment efforts. [ABSTRACT FROM AUTHOR]
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  Data: <i>Copyright of Research in Higher Education is the property of Springer Nature and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
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