Thank you for attending the ACCI 2021 Annual Conference! We hope you enjoyed the event as much as we enjoyed seeing you.
Please take a few minutes and complete the conference evaluation for us. Our program committee uses the feedback you provide in planning next year’s conference. The survey is online at https://acci-conf21-eval.questionpro.com.
Student loan debt has been increasing remarkably in the past decade and now is the second highest consumer debt category. In 2019, there are 45 million student loan borrowers with a total loan balance of almost $1.5 trillion in the U.S. With the concern of student debt reaching its record levels and the delay of homeownership of millennials, we are interested in examining potential tradeoffs millennials are using with regards to their borrowing behavior. Specifically, we are interested in the relationship between student loan debt and other forms of debt millennials have, i.e. how student loan debt affects the composition of millennial household’s financial obligations. Our main contribution to this research is one of methodology. We propose a more specific approach of examining the relationships between student loan debt and other financial obligations. Most previous studies focused only on the impact of student loan debt on homeownership. However, as far as we know, no research has been done to determine the causality between student loan debt and other household’s financial obligations such as auto loans, home mortgage, home equity line and other personal loans. Therefore, this study is to fill the gap in the literature on this topic.
Author(s): Xiang Cao, Travis Mountain, Kim Namhoon, Anukul Bhattari
