Attitudes towards risk and socioeconomic factors related to educational loans

Ortiz-Nunez, Aurora (2014) Attitudes towards risk and socioeconomic factors related to educational loans. Contemporary Economic Policy, 32 (4). pp. 710-718. ISSN 1074-3529

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Abstract

We explore the relationship between willingness to take financial risk and the probability of taking out a loan for educational purposes as well as the influence of risk attitudes on the size of the loan using data drawn from the U.S. Survey of Consumer Finances. The findings suggest a positive relationship between individuals' willingness to take financial risk and the probability of taking out a loan for educational purposes. Similarly, individuals' willingness to take financial risk appears to have an important relationship with the size of the educational loan. The findings suggest that non-white individuals and females are less likely to finance education through loans which could potentially increase inequalities in education and income if such individuals are deterred from investing in human capital.

Item Type:
Journal Article
Journal or Publication Title:
Contemporary Economic Policy
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/2000/2002
Subjects:
ID Code:
69413
Deposited By:
Deposited On:
08 May 2014 11:01
Refereed?:
Yes
Published?:
Published
Last Modified:
01 Jan 2020 08:53