ERIC Number: EJ1360475
Record Type: Journal
Publication Date: 2022
Pages: 19
Abstractor: As Provided
ISBN: N/A
ISSN: N/A
EISSN: EISSN-2332-8584
Like Any Other Trap: The Circuitous Path of Student Loan Repayment
Furquim, Fernando; Deane, K. C.; McCall, Brian P.; DesJardins, Stephen L.
AERA Open, v8 n1 Jan-Dec 2022
This paper studies the patterns of individuals' student loan repayment for up to 12 years, tracking borrowers through the formative ages of the early 20s to the late 30s. Using social sequence and cluster analysis to understand these longitudinal repayment histories, we identify five archetypes of loan repayment that describe borrowers' experiences: persistent defaulters, perpetual payers, rapid full payers, late full payers, and consolidators. We find significant stratification by race/ethnicity, social class, and institutional sector into repayment clusters, with minoritized borrowers and those attending for-profit institutions more likely to experience adverse borrowing outcomes and to experience them for longer.
Descriptors: Student Loan Programs, Loan Repayment, Loan Default, Racial Differences, Ethnicity, Social Class, Student Characteristics, Institutional Characteristics, Debt (Financial), Higher Education
SAGE Publications. 2455 Teller Road, Thousand Oaks, CA 91320. Tel: 800-818-7243; Tel: 805-499-9774; Fax: 800-583-2665; e-mail: journals@sagepub.com; Web site: http://bibliotheek.ehb.be:2814
Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: Institute of Education Sciences (ED)
Authoring Institution: N/A
Identifiers - Assessments and Surveys: Beginning Postsecondary Students Longitudinal Study
IES Funded: Yes
Grant or Contract Numbers: R305B150012