The cost of a college education continues to trend upward and state funding for higher education has trended downward, shifting more of the financial burden to students through student loans. About half of all 2010-2011 financial aid originated from student loans, and total federal student loan borrowing rose 319% between 1990 and 2010. Simultaneously, changes in funding and governance of higher education, evolution of student demographics, and enrollment growth anxiety are leading institutions of higher education to place more emphasis on degree completion. College administrators at two-year colleges are asked to make informed decisions related to student loan borrowing and degree completion, but information on the relationship between these two variables was lacking. The purpose of this quantitative, non-experimental study, guided by persistence theory and debt aversion theory, was to inform college administrator decision making on the degree to which student loan borrowing was related to degree completion for two-year colleges. A random sample of public two-year colleges that served at least one student loan during the year of data collected was drawn from the United States Integrated Postsecondary Education Data System (IPEDS). Simple linear regression was conducted on the relationship between student loan borrowing and degree completion, and multiple regression was performed on cost of attendance and spending on academic support and student services as they relate to that relationship. Administrators at public two-year colleges can use the statistically significant research outcome that degree completion is influenced by student loan borrowing as a tool to be more informed and decisive in how they fortify or amend policy, procedure, practice, and inquiry. Outcomes of this research study were generally in line with prevailing theory and the body of literature, and conclusions are an indispensable addition to the small but growing amount of related literature. These research outcomes should also compel action in the form of additional research, such as modifications and alternative methodologies that overcome research limitations and further evaluate the relationships in research questions 2 and 3, as well as models that evaluate impact based on time frame, amount borrowed, personality traits, and institutional policy/practice. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]