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Implications of financial concerns for college goal commitment among undergraduate students in the United States

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Abstract

Financial stress and student loan debt are on the rise among today’s college students. This study examined the associations between financial factors and students’ college goal commitment. A multi-institutional survey was used to assess students’ financial stress, estimated student loan debt, and the perceived importance of career, economic, academic, and co-curricular college goals. Logistic regression analyses found that, after controlling for demographic and academic factors, students with significant financial stress and high levels of debt were more likely to prioritize career, economic, and academic goals for college. Significant interactions between students’ demographic characteristics and their financial concerns were also found.

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Acknowledgements

Thanks to the Study on Collegiate Financial Wellness team at the Ohio State University’s Center for the Study of Student Life for collecting and sharing this dataset.

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Correspondence to Amanda R. Baker.

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Conflict of interest

The author was previously employed by the Center for the Study of Student Life, which collects the Study on Collegiate Financial Wellness.

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This study was approved by the Institutional Review Board at the Ohio State University.

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Baker, A.R. Implications of financial concerns for college goal commitment among undergraduate students in the United States. Soc Psychol Educ 22, 63–89 (2019). https://doi.org/10.1007/s11218-018-9467-5

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