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What Are Student Loan Borrowers Thinking? Insights From Focus Groups on College Selection and Student Loan Decision Making

What Are Student Loan Borrowers Thinking? Insights From Focus Groups on College Selection and... <p>This study used data from online focus groups collected from November 2014 to April 2015 to understand college students’ decision-making processes when borrowing money to finance their education. Data were collected using an online course management system. Results suggest that (a) students relied heavily on advice from parents, guidance counselors, and friends; (b) attending college was not possible without student loans; and (c) students knew very little about the loans they would be responsible for repaying. Recommendations for financial educators and counselors to help student borrowers make prudent decisions about education debt are presented.</p> http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Counseling and Planning Springer Publishing

What Are Student Loan Borrowers Thinking? Insights From Focus Groups on College Selection and Student Loan Decision Making

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Publisher
Springer Publishing
ISSN
1052-3073
eISSN
1947-7910
DOI
10.1891/1052-3073.27.2.184
Publisher site
See Article on Publisher Site

Abstract

<p>This study used data from online focus groups collected from November 2014 to April 2015 to understand college students’ decision-making processes when borrowing money to finance their education. Data were collected using an online course management system. Results suggest that (a) students relied heavily on advice from parents, guidance counselors, and friends; (b) attending college was not possible without student loans; and (c) students knew very little about the loans they would be responsible for repaying. Recommendations for financial educators and counselors to help student borrowers make prudent decisions about education debt are presented.</p>

Journal

Journal of Financial Counseling and PlanningSpringer Publishing

Published: Jan 1, 2016

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