ERIC Number: ED332599
Record Type: RIE
Publication Date: 1991-Mar
Reference Count: N/A
The New England Student Loan Survey II. Final Report.
Pedalino, Marilyn; And Others.
The New England Student Loan Survey (NESLS) II investigated the impact of student loans on borrowers, their consumption patterns, and their attitudes towards repayment. The 1,442 subjects, recent borrowers now repaying their student loans, included 283 high debt-low income borrowers and 207 prior defaulters now in repayment. Findings included the following: (1) over 70% said that the availability of student loans was an important factor in continuing their education beyond high school and 67% of those who completed school said that student loans enabled them to do so; (2) more than 70% of the sample said the benefits of having a student loan outweighed the drawbacks; (3) three-quarters of all borrowers said that they did not change their careers because of their student loans, while 15% percent claimed that they did; (4) the majority (70%) of the borrowers said that student loans did not prevent them from moving out of their parents' home, purchasing a home (63%), purchasing a car (69%), getting married (86%), or having children (79%), but those with higher debt levels were most likely to believe their education debt influenced these decisions. Both NESLS I and II revealed that individuals with higher debt levels are more likely than others to perceive their debts as burdensome, but debt level has little impact on consumption patterns. (LPT)
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: Massachusetts Higher Education Assistance Corp., Boston.; New England Education Loan Marketing Corp.