The Effects of K-12 Financial Education Mandates on Student Postsecondary Education Outcomes
Montana State University
The Effects of K-12 Financial Education Mandates on Student Postsecondary Education Outcomes, Montana State University, examines how personal finance graduation requirements in high school change whether or not young adults attend college, the types of institutions attended, and the methods by which individuals finance their postsecondary educations. Students in states with mandates and lower Expected Family Contributions (EFC) made better financial aid decisions as college freshmen, shifting from higher-cost to lower-cost borrowing options. Students with lower EFC increased acceptance of subsidized federal loans, decreased credit card balances and decreased the amount they worked while in school. Students who reside in states with mandates and higher EFCs took on smaller amounts of private loan debt.
Diverging Paths: Youth Debt, College and Family Background
Ohio State University
Diverging Paths: Youth Debt, College and Family Background, Ohio State University, examines student loan debt along with secured and unsecured consumer debt to illustrate the broader financial risk experienced by young adults with education ranging from high school diplomas to graduate degrees. Associate (A.A.) degree holders had a relatively similar propensity to carry debt as four-year degree holders, and at age 30 many still were accruing educational debt. A.A. degree holders held secured debt (particularly car loans) at earlier ages, and at age 30 held riskier portfolios of debt compared to any other educational group, including those with high school diplomas/G.E.D. and those who did not finish high school.