Debt Regret and Concerns: Examining the Effects of Social Class in Liberal Arts College Graduates

• In Event: 523 - Section on Sociology of Education Refereed Roundtable Session and Business Meeting
  In Refereed Roundtable 60min: Table 19. Social Class, Sexuality, and Education: Session II

Abstract

Students and families are increasingly relying on loans to pay for college. In this study we analyzed liberal arts college graduates’ concerns about and the effects of debt in their transitions to adulthood. We used quantitative methods to analyze survey data collected from recent liberal arts graduates of eleven liberal arts colleges in the American South. We were particularly interested in the extent to which social class differences exist in attitudes towards and in the effects of debt burdens. We found that graduates from working-class backgrounds were more likely to regret the amount of debt they had taken out and were more likely to report that debt had affected their post-graduate plans. Compared to their peers from middle- and upper-class backgrounds, they were more concerned about how their debt burdens would continue to adversely affect them. Debt amount was largely unable to explain these class differences. Rather, we found that the presence of a family financial safety net mediated the effects of class background on effects of and concerns about debt, suggesting that working-class students are more likely to shoulder their debt burdens alone.

Authors

• Deborah Warnock, SUNY Cortland

• Allison L. Hurst, Oregon State University