Loan burdens and educational outcomes

There is widespread concern among educators, policy makers, and students th at the current generation of college graduates is being unduly burdened wit h debt. This study examines the impact of debt on the educational outcomes of recent graduating seniors from a set of private, expensive, highly selec tive colleges and universities. In particular, I investigate the relationsh ip between borrowing levels and the likelihood of pursuing a graduate degre e, a professional degree, and the career plans of the college class of 1998 . The central conclusion drawn from this analysis is that students do not a ppear to be significantly influenced by their debt. (C) 2001 Elsevier Scien ce Ltd. All rights reserved.