JOURNAL ARTICLE

Attitudes Toward Educational Loan Repayment Among College Students: A Qualitative Enquiry.

  • Published In: Journal of Financial Counseling & Planning, 2023, v. 34, n. 2. P. 281 1 of 3

  • Database: Academic Search Ultimate 2 of 3

  • Authored By: Bhandary, Rakshith; Shenoy, Sandeep S.; Shetty, Ankitha; Shetty, Adithya D. 3 of 3

Abstract

The mounting educational loan delinquency is compelling bankers to discover various methods to reduce defaults in educational loan repayment. Policymakers emphasize designing a self-sustaining education financing model as a pathway to achieve inclusive education advocated by the United Nations. Willingness to repay is an attitudinal factor that envisages delinquency. With an aim to study the attitude of borrowers toward educational loan repayment using phenomenological research design, in-depth interviews were conducted with 40 postgraduate student borrowers from India to explore students' loan repayment concerns. A qualitative data analysis software was used to consolidate data and visualize themes. The thematic analysis results include 11 subthemes classified under themes of positive and negative attitudes. Gratification, quality of life, and debt burden are the subthemes of negative attitude that may cause educational loan delinquency. Credit history, debt utility, financial knowledge, prioritizing repayment, integrity, and parenting practices are the subthemes of positive attitude that may help reduce educational loan delinquency. Practitioners in consumer finance can use the themes to assess the repayment attitude of the borrower, and educators can increase the financial knowledge of the borrowers. [ABSTRACT FROM AUTHOR]

Additional Information

  • Source:Journal of Financial Counseling & Planning. 2023/07, Vol. 34, Issue 2, p281
  • Document Type:Article
  • Subject Area:Economics
  • Publication Date:2023
  • ISSN:1052-3073
  • DOI:10.1891/JFCP-2022-0069
  • Accession Number:164818566
  • Copyright Statement:Copyright of Journal of Financial Counseling & Planning is the property of Springer Publishing Company, Inc. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Looking to go deeper into this topic? Look for more articles on EBSCOhost.