๐ฐ Which type of student loan borrower are you? ๐ฐ
New research led by Dr. Gaurav Sinha uncovers four distinct financial profiles among young adults repaying student loans:
๐ด Financially Strained (21%) โ Struggling to make ends meet
๐ก Financially Capricious (20%) โ Unpredictable spending habits
๐ข Financially Balanced (29%) โ Managing debt responsibly
๐ต Financially Vulnerable (30%) โ At high risk of default
Your gender, race, and education level may influence where you land. Employment, income, and even marital status also play a role.
๐ These findings could help financial counselors tailor interventions to prevent student loan defaults.
Grateful to have worked with an excellent team, including Christopher Larrison
@crlarrison and Sicong Sun to bring this research to light!
Check out the full study here:
ir.library.louisville.edu/jsโฆ
#StudentLoans #DebtCrisis #FinancialWellness #HigherEd