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Author: Xiang, Xiaoling
Resulting in 3 citations.
1. Zhan, Min
Xiang, Xiaoling
Education Loans and Asset Building among Black and Hispanic Young Adults
Children and Youth Services Review 91 (August 2018): 121-127.
Also: https://www.sciencedirect.com/science/article/pii/S0190740918301300
Cohort(s): NLSY97
Publisher: Elsevier
Keyword(s): Assets; Hispanics; Racial Differences; Student Loans; Wealth

Use of education loans as a way to finance college education has grown rapidly, with minority students and their families being particularly burdened with education loan debt. Given the rising education loans and the racial/ethnic disparity in wealth accumulation, it is timely and important to examine how education loans affect the ability of future wealth building among minority households. This study examines the association between education loans and financial asset building among Black and Hispanic young adults aged 30 years by analyzing data from the 1997 National Longitudinal Survey of Youth. The results from a treatment–effects model indicate that having education loans is negatively related to net worth and nonfinancial assets at age 30, after controlling for respondents' demographic characteristics, years of education, and working hours. The relationship between the amount of education loans and indicators of financial balance sheets, however, is not statistically significant among the Black and Hispanic young adults with outstanding loans.
Bibliography Citation
Zhan, Min and Xiaoling Xiang. "Education Loans and Asset Building among Black and Hispanic Young Adults." Children and Youth Services Review 91 (August 2018): 121-127.
2. Zhan, Min
Xiang, Xiaoling
Elliott, William III
Education Loans and Wealth Building among Young Adults
Children and Youth Services Review 66 (July 2016): 67-75.
Also: http://www.sciencedirect.com/science/article/pii/S0190740916301360
Cohort(s): NLSY97
Publisher: Elsevier
Keyword(s): Assets; College Cost; Debt/Borrowing; Educational Costs; Financial Assistance; Housing/Housing Characteristics/Types; Racial Differences; Student Loans; Wealth

With the use of education loans growing rapidly as a way to finance college education, it is important to examine how such loans impact the future financial well-being. This study examines the association between education loans and postcollege wealth accumulation among young adults, the group with the greatest share of outstanding education loans. Data come from 15 rounds of data of the 1997 National Longitudinal Survey of Youth, and the analyses control for a number of student characteristics, college experiences, and parental income. Results from a treatment-effects model indicate that having education loans upon leaving college is negatively related to postcollege net worth, financial assets, nonfinancial assets, and value of primary housing. Furthermore, having education loans also has an additional negative link to the value of net worth among Black young adults. The relationship between the amount of education loans and wealth accumulation is not statistically significant among those with outstanding loans. The study findings indicate the importance of developing alternative approaches, instead of additional loans and other credits, to meet the financial needs of college students.
Bibliography Citation
Zhan, Min, Xiaoling Xiang and William III Elliott. "Education Loans and Wealth Building among Young Adults." Children and Youth Services Review 66 (July 2016): 67-75.
3. Zhan, Min
Xiang, Xiaoling
Elliott, William III
How Much Is Too Much: Educational Loans and College Graduation
Educational Policy 32,7 (November 2018): 993-1017.
Also: https://journals.sagepub.com/doi/full/10.1177/0895904816682316
Cohort(s): NLSY97
Publisher: Sage Publications
Keyword(s): College Cost; College Graduates; Debt/Borrowing; Educational Costs; Student Loans

Permission to reprint the abstract has not been received from the publisher.

This study examines the association between educational loans and college graduation rates, with a focus on differences by race and ethnicity. Data come from the 1997 National Longitudinal Survey of Youth. Results from the event history analyses indicate that educational loans are positively related to college graduation rates, but only up to a point (about US$19,753). Although this nonlinear relationship holds true among White, Black, and Hispanic students, there are differences in the level of loans where its effect turns negative on graduate rates. There is little evidence overall that educational loans reduce racial and ethnic disparities in college graduation.
Bibliography Citation
Zhan, Min, Xiaoling Xiang and William III Elliott. "How Much Is Too Much: Educational Loans and College Graduation." Educational Policy 32,7 (November 2018): 993-1017.