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ERIC Number: EJ1121009
Record Type: Journal
Publication Date: 2016
Pages: 16
Abstractor: As Provided
ISSN: ISSN-0884-9153
Which U.S. Households Use Education Loans?
Hsu, Chungwen; Fisher, Patti J.
Journal of Student Financial Aid, v46 n3 Article 5 2016
This empirical study uses the 2013 Survey of Consumer Finances (SCF) to investigate the characteristics of households that hold at least one loan for educational expenses. The benefit of using household-level data is that a single household may have education loans for multiple people in the household, including the household head, spouse/partner, and children. In studies of the education loan debt of individuals, the true effect on households may be overlooked. The present results show that the respondent's age, respondent's marital status, having at least one dependent child under the age of 18, net worth, home ownership, stock ownership, being retired, being Hispanic, and being in the "other" race/ethnicity group each have a negative relationship with the likelihood of holding education loans. In contrast, the respondent's education, having at least one dependent child who is 18-25 years of age, being a female, and being non-Hispanic Black have a positive relationship with the likelihood of holding education loans.
National Association of Student Financial Aid Administrators. 1101 Connecticut Avenue NW Suite 1100, Washington, DC 20036. Tel: 202-785-0453; Fax: 202-785-1487; e-mail:; Web site:
Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A