Why is Math Cheaper than English? Understanding Cost Differences in Higher Education
In: NBER Working Paper No. w25314
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In: NBER Working Paper No. w25314
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Working paper
In: IZA Discussion Paper No. 11968
SSRN
Working paper
In: Journal of labor economics: JOLE, Band 39, Heft 2, S. 397-435
ISSN: 1537-5307
In: The annals of the American Academy of Political and Social Science, Band 671, Heft 1, S. 69-91
ISSN: 1552-3349
A growing number and proportion of students rely on student loans to assist with the costs of postsecondary education. Yet little is known about how first-generation students use federal loans to finance their education. In this article, we examine each of the decisions that culminate in student indebtedness: the decision to apply for aid, whether to borrow, and how much to borrow. We find significant differences by generational status at each step of the student borrowing process. First-generation students are more likely to apply for financial aid, borrow, and take out larger loans than their peers, after controlling for a rich set of covariates for costs and financial resources. We find that student characteristics cannot fully explain these observed differences in borrowing outcomes across generations.