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Title: A New Midlife Crisis?: An Examination of Parents Who Borrow to Pay for Their Children's College Education
Resulting in 1 citation.
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Walsemann, Katrina Michelle Ailshire, Jennifer A. |
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A New Midlife Crisis?: An Examination of Parents Who Borrow to Pay for Their Children's College Education Presented: Chicago IL, Population Association of America Annual Meeting, April 2017 Cohort(s): NLSY79 Publisher: Population Association of America Keyword(s): Children; College Cost; College Education; Debt/Borrowing; Parental Investments; Student Loans / Student Aid Permission to reprint the abstract has not been received from the publisher. Discussions of educational debt often overlook the debts parents take on to pay for their children's education. We identify parental characteristics associated with child-related educational debt among the late baby boom cohort using data from the National Longitudinal Survey of Youth 1979. We restrict our sample to parents who had at least one child ≥17 years old and answered questions on educational debt during mid-life (n=6,562). Craggit models estimated 1) having any child-related educational debt and 2) the amount of debt owed among debtors. Black parents and parents with more education, higher income, and higher networth were more likely to report child-related educational debt than White parents and parents with no degree, low-income, or negative networth. Among debtors, high-income parents had more debt than low-income parents. Our findings suggest the student debt crisis is a looming concern for mid-life adults and may have important implications for the aging population. |
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Bibliography Citation
Walsemann, Katrina Michelle and Jennifer A. Ailshire. "A New Midlife Crisis?: An Examination of Parents Who Borrow to Pay for Their Children's College Education." Presented: Chicago IL, Population Association of America Annual Meeting, April 2017. |