Mothers, Fathers, and Student Loans: Contributing Factors of Familial Conflict Among Parents Repaying Student Loan Debt for Children

Abstract

As college costs rise in the United States, many parents are forced to make difficult decisions about how to pay for their children’s higher education. Stress and conflict accompany financial issues and play a role in the financial picture for many families. Using Hill’s (Hill, Social casework 39:139–150, 1958) ABC-X model of family stress as a framework, this study describes results of a national survey of parents contributing to student loan payments for their child’s education and explores how this experience may play a role in familial conflict. Findings suggest marked gender differences in the relationship between contribution reason and the experience of conflict. Results also carry implications for financial professionals, suggesting a need for family-focused and gender-conscious financial education both before and during the student loan repayment process.

Factors Influencing Graduate's Intention to Repay Educational Debt

“…According to Chong's (2021) research, education level, collateral, and monthly budgeting all have significant links with loan payback. According to a recent study by Balmuth et al (2021), parents or family members will be affected before and during the repayment procedure. According to a study conducted in Massachusetts, students with less financial literacy are more likely to disregard loan repayment, implying that knowledge influences the intention to repay educational debt (Artavanis & Karra, 2020).…”

Investigating Young Employee Stressors in Contemporary Society Based on User-Generated Contents

“…Researchers suggest high rates of mental health issues among low-income families and their children [ 28 , 29 , 30 , 31 ]. Second, the considerable cost of education makes it impossible for employees to guarantee their children adequate education, which makes them feel overburdened and stressed [ 32 ]. Third, in recent years, pressing housing issues such as high housing costs, overcrowding, and job-housing imbalance have forced huge pressure on young employees, especially in developing countries such as China [ 33 , 34 , 35 ].…”

“…These research methods are conventional and have the following two advantages: (1) they save time, money and manpower; and (2) the results are easier to quantify. However, the problem with such measures is that the same test object provides all the information and therefore the statistical relationship between the structures may be inflated due to common source bias [ 32 ]. In addition, the data obtained through questionnaires and interviews are subjective and lack authenticity, which may make the study results unrepresentative.…”