ANALYZING THE FINANCIAL BURDEN OF USING STUDENT LOANS TO FINANCE A COLLEGE EDUCATION

Increasing the educational level of a population, especially at the tertiary level is key to a country's economic stability and long-term growth and prosperity. However, the rising costs associated with the college process have given rise to grave concern for students who pursue the process and...

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Bibliographic Details
Published in:Global journal of accounting and finance 2021-06, Vol.5 (1), p.152-182
Main Authors: Nolan, James, Robeson, Daniel, McKenna, Colleen, Smith-Hunter, Andrea
Format: Article
Language:English
Subjects:
Education, Higher
Student loans
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Summary:Increasing the educational level of a population, especially at the tertiary level is key to a country's economic stability and long-term growth and prosperity. However, the rising costs associated with the college process have given rise to grave concern for students who pursue the process and are left with insurmountable college loans. This paper looks at student loan borrowing by college students and examine what propels students to take loans and the mitigating factors that may prevent them from repaying those in a timely fashion or not at all. The paper is structured as follows. It begins with a look at the history of student loans, followed by a literature review, a description of the research methodology and a detailed set of results. The purpose of this research project is to delve deeper into the student loan debacle and to find out more about the mitigating factors and antecedents that relate to college students and their student loans. KEYWORDS: College Students; College Loans; Tertiary Education; College Financing
ISSN:2574-0474
2574-0482
DOI:10.47177/GJAF.05.01.2021.152