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Examining How Student and Parent Debt Impacts Postsecondary Value

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Title: Examining How Student and Parent Debt Impacts Postsecondary Value
Language: English
Authors: Cochrane, Debbie, Postsecondary Value Commission
Source: Postsecondary Value Commission. 2021.
Availability: Postsecondary Value Commission. Available from: Bill & Melinda Gates Foundation. e-mail: ValueCommission@IHEP.org; Website: https://www.postsecondaryvalue.org/
Peer Reviewed: N
Page Count: 18
Publication Date: 2021
Document Type: Reports - Evaluative
Education Level: Postsecondary Education
Higher Education
Descriptors: Debt (Financial), Postsecondary Education, Value Judgment, Parents, Family Income, Parent Financial Contribution, Paying for College, Federal Legislation, Student Loan Programs, Loan Repayment, Student Financial Aid, Intellectual Disciplines, Outcomes of Education, Equal Education, Employment Qualifications, Wages, Economic Factors, Costs, Racial Differences, Federal Aid, Grants, Ethnicity, Gender Differences
Laws, Policies and Program Identifiers: Federal Direct PLUS Loan Program, Pell Grant Program
Abstract: With grant and scholarship aid as well as family resources unable to keep pace with college costs, loans have become a fact of life for millions of college students each year. In deciding how and how much to borrow, these students are making highly consequential decisions that will impact their future in unknown ways. Policy should aim to reduce the prevalence of postsecondary education opportunities that routinely leave borrowers with loans they cannot repay, and provide students with timely and relevant information and support with which to make borrowing decisions. Compared to the wealth of information available about student borrowing and debt loads, less research has focused on parent borrowing. Available survey data suggest that parents from across the income spectrum rely upon the parent PLUS loan program to pay for their children's education in different ways. More work is needed to understand the use and tradeoffs of using alternative (non-federal) debt to finance college, including short- and long-term consequences of leveraging wealth through credit cards, home equity loans, and private loans with high interest rates. Better understanding parent borrowing, including how those loans are used among those with differential financial strength and their effects on students' and parents' subsequent economic security and mobility would also help fill gaps in the research, especially as parent PLUS borrowing may uniquely impact Black families with limited wealth.
Abstractor: ERIC
Entry Date: 2022
Accession Number: ED617070
Database: ERIC
FullText Text:
  Availability: 0
CustomLinks:
  – Url: https://eric.ed.gov/contentdelivery/servlet/ERICServlet?accno=ED617070
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  Data: Examining How Student and Parent Debt Impacts Postsecondary Value
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  Data: <searchLink fieldCode="AR" term="%22Cochrane%2C+Debbie%22">Cochrane, Debbie</searchLink><br /><searchLink fieldCode="AR" term="%22Postsecondary+Value+Commission%22">Postsecondary Value Commission</searchLink>
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  Data: <searchLink fieldCode="SO" term="%22Postsecondary+Value+Commission%22"><i>Postsecondary Value Commission</i></searchLink>. 2021.
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  Data: Postsecondary Value Commission. Available from: Bill & Melinda Gates Foundation. e-mail: ValueCommission@IHEP.org; Website: https://www.postsecondaryvalue.org/
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  Data: N
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  Label: Page Count
  Group: Src
  Data: 18
– Name: DatePubCY
  Label: Publication Date
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  Data: 2021
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  Data: Reports - Evaluative
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  Label: Education Level
  Group: Audnce
  Data: <searchLink fieldCode="EL" term="%22Postsecondary+Education%22">Postsecondary Education</searchLink><br /><searchLink fieldCode="EL" term="%22Higher+Education%22">Higher Education</searchLink>
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  Label: Descriptors
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  Data: <searchLink fieldCode="DE" term="%22Debt+%28Financial%29%22">Debt (Financial)</searchLink><br /><searchLink fieldCode="DE" term="%22Postsecondary+Education%22">Postsecondary Education</searchLink><br /><searchLink fieldCode="DE" term="%22Value+Judgment%22">Value Judgment</searchLink><br /><searchLink fieldCode="DE" term="%22Parents%22">Parents</searchLink><br /><searchLink fieldCode="DE" term="%22Family+Income%22">Family Income</searchLink><br /><searchLink fieldCode="DE" term="%22Parent+Financial+Contribution%22">Parent Financial Contribution</searchLink><br /><searchLink fieldCode="DE" term="%22Paying+for+College%22">Paying for College</searchLink><br /><searchLink fieldCode="DE" term="%22Federal+Legislation%22">Federal Legislation</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Loan+Programs%22">Student Loan Programs</searchLink><br /><searchLink fieldCode="DE" term="%22Loan+Repayment%22">Loan Repayment</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Financial+Aid%22">Student Financial Aid</searchLink><br /><searchLink fieldCode="DE" term="%22Intellectual+Disciplines%22">Intellectual Disciplines</searchLink><br /><searchLink fieldCode="DE" term="%22Outcomes+of+Education%22">Outcomes of Education</searchLink><br /><searchLink fieldCode="DE" term="%22Equal+Education%22">Equal Education</searchLink><br /><searchLink fieldCode="DE" term="%22Employment+Qualifications%22">Employment Qualifications</searchLink><br /><searchLink fieldCode="DE" term="%22Wages%22">Wages</searchLink><br /><searchLink fieldCode="DE" term="%22Economic+Factors%22">Economic Factors</searchLink><br /><searchLink fieldCode="DE" term="%22Costs%22">Costs</searchLink><br /><searchLink fieldCode="DE" term="%22Racial+Differences%22">Racial Differences</searchLink><br /><searchLink fieldCode="DE" term="%22Federal+Aid%22">Federal Aid</searchLink><br /><searchLink fieldCode="DE" term="%22Grants%22">Grants</searchLink><br /><searchLink fieldCode="DE" term="%22Ethnicity%22">Ethnicity</searchLink><br /><searchLink fieldCode="DE" term="%22Gender+Differences%22">Gender Differences</searchLink>
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  Label: Laws, Policies and Program Identifiers
  Group: Su
  Data: <searchLink fieldCode="SU" term="%22Federal+Direct+PLUS+Loan+Program%22">Federal Direct PLUS Loan Program</searchLink><br /><searchLink fieldCode="SU" term="%22Pell+Grant+Program%22">Pell Grant Program</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: With grant and scholarship aid as well as family resources unable to keep pace with college costs, loans have become a fact of life for millions of college students each year. In deciding how and how much to borrow, these students are making highly consequential decisions that will impact their future in unknown ways. Policy should aim to reduce the prevalence of postsecondary education opportunities that routinely leave borrowers with loans they cannot repay, and provide students with timely and relevant information and support with which to make borrowing decisions. Compared to the wealth of information available about student borrowing and debt loads, less research has focused on parent borrowing. Available survey data suggest that parents from across the income spectrum rely upon the parent PLUS loan program to pay for their children's education in different ways. More work is needed to understand the use and tradeoffs of using alternative (non-federal) debt to finance college, including short- and long-term consequences of leveraging wealth through credit cards, home equity loans, and private loans with high interest rates. Better understanding parent borrowing, including how those loans are used among those with differential financial strength and their effects on students' and parents' subsequent economic security and mobility would also help fill gaps in the research, especially as parent PLUS borrowing may uniquely impact Black families with limited wealth.
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  Label: Abstractor
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  Data: ERIC
– Name: DateEntry
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  Data: 2022
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  Label: Accession Number
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  Data: ED617070
PLink https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=eric&AN=ED617070
RecordInfo BibRecord:
  BibEntity:
    Languages:
      – Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 18
    Subjects:
      – SubjectFull: Debt (Financial)
        Type: general
      – SubjectFull: Postsecondary Education
        Type: general
      – SubjectFull: Value Judgment
        Type: general
      – SubjectFull: Parents
        Type: general
      – SubjectFull: Family Income
        Type: general
      – SubjectFull: Parent Financial Contribution
        Type: general
      – SubjectFull: Paying for College
        Type: general
      – SubjectFull: Federal Legislation
        Type: general
      – SubjectFull: Student Loan Programs
        Type: general
      – SubjectFull: Loan Repayment
        Type: general
      – SubjectFull: Student Financial Aid
        Type: general
      – SubjectFull: Intellectual Disciplines
        Type: general
      – SubjectFull: Outcomes of Education
        Type: general
      – SubjectFull: Equal Education
        Type: general
      – SubjectFull: Employment Qualifications
        Type: general
      – SubjectFull: Wages
        Type: general
      – SubjectFull: Economic Factors
        Type: general
      – SubjectFull: Costs
        Type: general
      – SubjectFull: Racial Differences
        Type: general
      – SubjectFull: Federal Aid
        Type: general
      – SubjectFull: Grants
        Type: general
      – SubjectFull: Ethnicity
        Type: general
      – SubjectFull: Gender Differences
        Type: general
      – SubjectFull: Federal Direct PLUS Loan Program
        Type: general
      – SubjectFull: Pell Grant Program
        Type: general
    Titles:
      – TitleFull: Examining How Student and Parent Debt Impacts Postsecondary Value
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            NameFull: Postsecondary Value Commission
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            NameFull: Cochrane, Debbie
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          Dates:
            – D: 01
              M: 01
              Type: published
              Y: 2021
          Titles:
            – TitleFull: Postsecondary Value Commission
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