The impact of family assets and debt on college graduation

Min Zhan, Deirdre Lanesskog

Research output: Contribution to journalArticle

Abstract

This study examines the influence of family financial assets and debt, both measured during the time of youth's college enrollment, on the chances of college graduation. Data come from the National Longitudinal Survey of Youth. Results from analyses controlling for a number of student, parental, and institutional characteristics indicate that family assets are positively related to the chances of college graduation among White and Black students; family debt is negatively associated with the odds of college graduation among Black students, but neither family assets nor family debt is related to the chances of college graduation among Hispanic students. Overall, results indicate that family assets and debt explain a small portion of racial/ethnic gaps in college graduation. Policy implications are considered.

Original languageEnglish (US)
Pages (from-to)67-74
Number of pages8
JournalChildren and Youth Services Review
Volume43
DOIs
StatePublished - Aug 2014

Keywords

  • Assets
  • College graduation
  • Debt
  • Income
  • National longitudinal survey of youth
  • Race/ethnicity

ASJC Scopus subject areas

  • Education
  • Developmental and Educational Psychology
  • Sociology and Political Science

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