The Effect of Households’ Student Debt on Life Satisfaction

The Effect of Households’ Student Debt on Life Satisfaction

This study finds a negative effect of holding student-loan debt on the life satisfaction of household heads using longitudinal data from the 2011 to 2017 U.S. Panel Study of Income Dynamics and a fixed-effects modeling approach. Although debt is taken to improve future utility, it provides disutilit...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Journal of family and economic issues 2021-12, Vol.42 (4), p.757-772
Hauptverfasser: Korankye, Thomas, Kalenkoski, Charlene M.
Format: Artikel
Sprache:eng
Schlagworte:
Central banks
Datasets
Debt
Family
Financial planners
Financial planning
Head of household
Higher education
Households
Human capital
Influence
Life satisfaction
Older people
Original Paper
Personality and Social Psychology
Social Policy
Social Sciences
Sociology
Student debt
Student loans
Teachers
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:This study finds a negative effect of holding student-loan debt on the life satisfaction of household heads using longitudinal data from the 2011 to 2017 U.S. Panel Study of Income Dynamics and a fixed-effects modeling approach. Although debt is taken to improve future utility, it provides disutility to the head of household until it is paid off. Thus, financial planners and educators should remind their clients about the consequences of holding student-loan debt in the short term, not just the future benefits.
ISSN:1058-0476
1573-3475
DOI:10.1007/s10834-021-09753-9