Full Citation
Title: Job Loss, Credit Card Loans, and the College-persistence Decision of US Working Students
Citation Type: Working Paper
Publication Year: 2023
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Abstract: Working college students represent 57 percent of the 18- to 24-year-old US undergraduate population. On average, compared with their non-working peers, they have lower family income and receive less parental support, and more than half depend on their own earned income to pay for their college education. Furthermore, most working students have no access to commercial loans but hold one or more credit cards, and in many cases, they carry a credit card balance over months. This paper studies the effect of job loss on the college-persistence decision of US 18- to 24-year-old working college students and whether access to credit through credit card loans buffers this liquidity effect of job loss.
User Submitted?: No
Authors: Wu, Pinghui; McMillan, Lucy
Series Title: Research Department Working Papers
Publication Number: 23-19
Institution: Federal Reserve Bank of Boston
Pages: 1-59
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Data Collections: IPUMS CPS
Topics: Education, Labor Force and Occupational Structure
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