Sheraton Uptown, Albuquerque, NM, USA
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Saturday, April 22 • 4:30pm - 5:30pm
216 - Financial Strain and Student Loan Debt: Does Financial Literacy Play a Mitigating Role?

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This study uses the most recent wave of the FINRA National Financial Capability Study (2015) to examine whether student loan debt increases the financial strain of households. This study also examines whether the financial strain varies by student loan type (federal or private), and whether financial literacy or participation in a financial education course plays a mediating role in this process. The results have implications for both financial educators and policymakers. The significant association between student loan type and financial strain indicates the need for further research to determine the types of private loans that resulted in greater financial strain among households. Additionally, the significantly negative association between financial literacy and financial strain suggests the importance of access to financial education in improving financial well-being of households.

Speakers & Presenters
avatar for Swarn Chatterjee

Swarn Chatterjee

Professor, University of Georgia

Brenda J. Cude

Professor, Unviersity of Georgia

Saturday April 22, 2017 4:30pm - 5:30pm

Attendees (3)