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ERIC Number: EJ996782
Record Type: Journal
Publication Date: 2012
Pages: 13
Abstractor: As Provided
Reference Count: 75
ISBN: N/A
ISSN: ISSN-1052-3073
Outstanding AFCPE[R] Conference Paper: Debt Burden of Young Adults in the United States
Kim, Jinhee; Chatterjee, Swarn; Kim, Jung Eun
Journal of Financial Counseling and Planning, v23 n2 p55-67 2012
Factors associated with the borrowing behavior of young adults who are transitioning from financial dependence to financial independence were identified. Data used were from the 2009 Transition to Adulthood and its parental companion data set, Panel Studies of Income Dynamics. Results indicate that age, gender, race, and work status are associated with the debt burden of young adults. Conversely, closeness to mother and communication, parental resources, and human capital attainment are negatively associated with borrowing behavior. Financial independence was positively associated with both credit card borrowing and student loan debt of college students. (Contains 4 tables.)
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: N/A
Authoring Institution: N/A
Identifiers - Location: United States