ERIC Number: EJ1073924
Record Type: Journal
Publication Date: 2015
Reference Count: N/A
Student Loan Debt Levels and Their Implications for Borrowers, Society, and the Economy
Cornelius, Luke M.; Frank, Sharon A.
Educational Considerations, v42 n2 p35-38 Spr 2015
Upward mobility is a prized aspect of the American dream based upon the belief that those from humble origins can climb the socioeconomic ladder through education and hard work. Increasingly, postsecondary education is an essential component of that dream. However, many students, particularly those from low to moderate income families, find it necessary to rely upon student loans, which include direct loans from the U.S. Department of Education as well as those from private lenders, to finance their studies. A growing concern among policymakers is the increasing amount of debt students incur to pay for their postsecondary education. This article provides an overview of the implications associated with the growing student loan debt burden for borrowers, society, and the economy.
Descriptors: Student Loan Programs, Debt (Financial), Economic Impact, Educational Benefits, Federal Aid, Federal Programs, Community Benefits, Paying for College, Statistical Distributions
Kansas State University, College of Education. 1100 Mid-Campus Drive, 006 Bluemont Hall, Manhattan, KS 66506. Tel: 785-532-5525; Fax: 785-532-7304; e-mail: firstname.lastname@example.org; Web site: http://coe.ksu.edu/EdConsiderations
Publication Type: Journal Articles; Reports - Evaluative
Education Level: Higher Education; Postsecondary Education
Authoring Institution: N/A