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ERIC Number: EJ1161822
Record Type: Journal
Publication Date: 2016
Pages: 15
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1052-3073
What Are Student Loan Borrowers Thinking? Insights from Focus Groups on College Selection and Student Loan Decision Making
Johnson, Carrie L.; O'Neill, Barbara; Worthy, Sheri Lokken; Lown, Jean M.; Bowen, Cathy F.
Journal of Financial Counseling and Planning, v27 n2 p184-198 2016
This study used data from online focus groups collected from November 2014 to April 2015 to understand college students' decision-making processes when borrowing money to finance their education. Data were collected using an online course management system. Results suggest that (a) students relied heavily on advice from parents, guidance counselors, and friends; (b) attending college was not possible without student loans; and (c) students knew very little about the loans they would be responsible for repaying. Recommendations for financial educators and counselors to help student borrowers make prudent decisions about education debt are presented.
Association for Financial Counseling and Planning Education. 1500 West Third Avenue Suite 223, Columbus, OH 43212. Tel: 614-485-9650; Fax: 614-485-9621; Web site: http://afcpe.org
Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: National Institute of Food and Agriculture (USDA)
Authoring Institution: N/A
Identifiers - Location: Georgia; Pennsylvania; Indiana; New Jersey; South Dakota; Utah