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Do student loans delay marriage? Debt repayment and family formation in young adulthood

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Listed:
  • Robert Bozick

    (Rice University)

  • Angela Estacion

    (Quill Research Associates (QRA))

Abstract

Background: With increasing levels of student loan debt, the path to economic stability may be less smooth than it was for earlier generations of college graduates. This paper explores this emerging trend by assessing whether or not student loan debt influences family formation. Objective: The objective of this study is to examine whether student loan debt delays marriage in young adulthood, whether or not the relationship between student loan debt and marriage differs for women and for men, and if this relationship attenuates during the years immediately after college graduation. Methods: We estimate a series of discrete-time hazard regression models predicting the odds of first marriage as a function of time-varying student loan debt balance, using a nationally representative sample of bachelor’s degree recipients from the 1993 Baccalaureate and Beyond Longitudinal Study (N = 9,410). Results: We find that the dynamics of loan repayment are related to marriage timing for women, but not for men. Specifically, an increase of $1,000 in student loan debt is associated with a reduction in the odds of first marriage by two percent a month among female bachelor degree recipients during the first four years after college graduation. This relationship attenuates over time. Conclusions: Our study lends support to the proposition that the financial weight of monthly loan repayments impedes family formation in the years immediately following college graduation -- however, only for women. This finding questions traditional models of gender specialization in family formation that emphasize the economic resources of men.

Suggested Citation

  • Robert Bozick & Angela Estacion, 2014. "Do student loans delay marriage? Debt repayment and family formation in young adulthood," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 30(69), pages 1865-1891.
    • Handle: RePEc:dem:demres:v:30:y:2014:i:69
    DOI: 10.4054/DemRes.2014.30.69
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    References listed on IDEAS

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    Cited by:

    1. Melissa A. Curran & Emily Parrott & Sun Young Ahn & Joyce Serido & Soyeon Shim, 2018. "Young Adults’ Life Outcomes and Well-Being: Perceived Financial Socialization from Parents, the Romantic Partner, and Young Adults’ Own Financial Behaviors," Journal of Family and Economic Issues, Springer, vol. 39(3), pages 445-456, September.
    2. Robin Henager & Sophia T. Anong & Joyce Serido & Soyeon Shim, 2021. "Does Financial Satisfaction Vary Depending on the Funding Strategy Used to Pay for College?," Journal of Family and Economic Issues, Springer, vol. 42(3), pages 429-448, September.
    3. Alexa Balmuth & Julie Miller & Samantha Brady & Lisa D’Ambrosio & Joseph Coughlin, 2021. "Mothers, Fathers, and Student Loans: Contributing Factors of Familial Conflict Among Parents Repaying Student Loan Debt for Children," Journal of Family and Economic Issues, Springer, vol. 42(2), pages 335-350, June.
    4. Stella Min & Miles G. Taylor, 2018. "Racial and Ethnic Variation in the Relationship Between Student Loan Debt and the Transition to First Birth," Demography, Springer;Population Association of America (PAA), vol. 55(1), pages 165-188, February.
    5. Sieg, Holger & Wang, Yu, 2018. "The impact of student debt on education, career, and marriage choices of female lawyers," European Economic Review, Elsevier, vol. 109(C), pages 124-147.
    6. Philip Armour & Melanie A. Zaber, 2020. "Does Student Loan Forgiveness Drive Disability Application?," NBER Working Papers 26787, National Bureau of Economic Research, Inc.
    7. Holger Sieg & Yu Wang, 2017. "The Impact of Student Debt on Education, Career, and Marriage Choices of Female Lawyers," NBER Working Papers 23453, National Bureau of Economic Research, Inc.
    8. Fabio Blasutto, 2024. "Cohabitation vs. Marriage: Mating Strategies by Education in The USA," Journal of the European Economic Association, European Economic Association, vol. 22(4), pages 1723-1761.

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    More about this item

    Keywords

    family formation; marriage; debt; student loan; college;
    All these keywords.

    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics
    • Z0 - Other Special Topics - - General

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