Graduate Debt in Psychology: A Qualitative Analysis

The present study expands on previous work that offered a comprehensive picture of graduate student and early career student loan debt and finances (Doran, Kraha, Reid Marks, Ameen, & El-Ghoroury, 2016). This paper presents qualitative data from the same sample (N = 1,283), recruited from the Am...

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Bibliographic Details
Published in:Training and education in professional psychology 2016-11, Vol.10 (4), p.179-187
Main Authors: Doran, Jennifer M, Reid Marks, Laura, Kraha, Amanda, Ameen, Edward J, El-Ghoroury, Nabil Hassan
Format: Article
Language:English
Subjects:
Female
Finance
Financial Strain
Graduate Psychology Education
Graduate Students
Human
Information
Male
Student Attitudes
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Summary:The present study expands on previous work that offered a comprehensive picture of graduate student and early career student loan debt and finances (Doran, Kraha, Reid Marks, Ameen, & El-Ghoroury, 2016). This paper presents qualitative data from the same sample (N = 1,283), recruited from the American Psychological Association (APA) membership database, and serves to enrich and elaborate on previously reported quantitative data. Consensual Qualitative Research methodology (Hill, Thompson, & Williams, 1997) was used to examine responses to 2 open-ended questions-the first about participant thoughts and feelings related to their educational debt; the second about what information they wished they had prior to enrolling in a program. Responses were coded into categories and quantified. High frequency codes for the first question addressed systemic barriers and problems in the field, the negative impact of debt on participants' lives, and concerns about the cost of education relative to earning potential. A subset of responses also discussed not being fully informed prior to admission, delaying major life milestones because of debt, and having second thoughts about their career choice. The second question yielded information about what respondents wished they had known, ranging from loan types and terms, the full and total cost of earning a graduate degree in psychology, and funding options and opportunities. These data highlight the lived impact of debt on the quality of life and well-being of emerging and early career psychologists, and point to systemic issues that require the urgent attention of the training community.
ISSN:1931-3918
1931-3926
DOI:10.1037/tep0000132