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Assets and liabilities, educational expectations, and children's college degree attainment

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  • Zhan, Min
  • Sherraden, Michael

Abstract

This research examines relationships among household assets and liabilities, educational expectations of children and parents, and children's college degree attainment. Special attention is paid to influences of different asset types (financial vs. nonfinancial assets) and liabilities (secured vs. unsecured debt). Results indicate that, after controlling for family income and other parent/child characteristics, financial and nonfinancial assets are positively related to, and unsecured debt is negatively related to, children's college completion. Furthermore, there is evidence that financial assets are positively associated with the education expectations of parents and children. Policy directions are suggested.

Suggested Citation

  • Zhan, Min & Sherraden, Michael, 2011. "Assets and liabilities, educational expectations, and children's college degree attainment," Children and Youth Services Review, Elsevier, vol. 33(6), pages 846-854, June.
    • Handle: RePEc:eee:cysrev:v:33:y:2011:i:6:p:846-854
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    References listed on IDEAS

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    Cited by:

    1. Rothwell, David W. & Ottusch, Timothy & Finders, Jennifer K., 2019. "Asset poverty among children: A cross-national study of poverty risk," Children and Youth Services Review, Elsevier, vol. 96(C), pages 409-419.
    2. Zhan, Min & Xiang, Xiaoling & Elliott, William, 2016. "Education loans and wealth building among young adults," Children and Youth Services Review, Elsevier, vol. 66(C), pages 67-75.
    3. Cynthia Feliciano & Yader R. Lanuza, 2016. "The Immigrant Advantage in Adolescent Educational Expectations," International Migration Review, Wiley Blackwell, vol. 50(3), pages 758-792, September.
    4. Cheatham, Gregory A. & Elliott, William, 2013. "The effects of family college savings on postsecondary school enrollment rates of students with disabilities," Economics of Education Review, Elsevier, vol. 33(C), pages 95-111.
    5. David Rothwell & Timothy Ottusch & Jennifer K. Finders, 2018. "Asset Poverty Among Children: A Cross-national Study of Poverty Risk," LWS Working papers 29, LIS Cross-National Data Center in Luxembourg.
    6. Elliott, William, 2013. "The effects of economic instability on children's educational outcomes," Children and Youth Services Review, Elsevier, vol. 35(3), pages 461-471.
    7. Yoko Mimura, 2014. "The Relationship Between Life Satisfaction Among Wives and Financial Preparedness of Households in Japan," Journal of Family and Economic Issues, Springer, vol. 35(4), pages 532-541, December.
    8. Kim, Youngmi & Sherraden, Michael & Clancy, Margaret, 2013. "Do mothers’ educational expectations differ by race and ethnicity, or socioeconomic status?," Economics of Education Review, Elsevier, vol. 33(C), pages 82-94.
    9. Elliott, William & Rauscher, Emily & Nam, Ilsung, 2018. "Unequal returns: Intragenerational asset accumulation differs by net worth in early adulthood," Children and Youth Services Review, Elsevier, vol. 85(C), pages 253-263.
    10. Juan Sebastian Cubillos-Rocha & Juliana Gamboa-Arbelaez & Luis Fernando Melo-Velandia & Sara Restrepo-Tamayo & Maria Jose Roa-Garcia & Mauricio Villamizar-Villegas, 2021. "Effects of interest rate caps on credit access," Journal of Regulatory Economics, Springer, vol. 60(2), pages 117-139, December.
    11. Zhan, Min & Xiang, Xiaoling, 2018. "Education loans and asset building among black and Hispanic young adults," Children and Youth Services Review, Elsevier, vol. 91(C), pages 121-127.
    12. Beverly, Sondra G. & Kim, Youngmi & Sherraden, Michael & Nam, Yunju & Clancy, Margaret, 2015. "Can Child Development Accounts be inclusive? Early evidence from a statewide experiment," Children and Youth Services Review, Elsevier, vol. 53(C), pages 92-104.
    13. Kim, Youngmi & Huang, Jin & Sherraden, Michael & Clancy, Margaret, 2017. "Child Development Accounts, parental savings, and parental educational expectations: A path model," Children and Youth Services Review, Elsevier, vol. 79(C), pages 20-28.
    14. Loke, Vernon, 2013. "Parental asset accumulation trajectories and children's college outcomes," Economics of Education Review, Elsevier, vol. 33(C), pages 124-133.
    15. Xingchen Zhu & Wencan Li & Haohan Zhao & Jinsheng Hu, 2024. "Surfing into trouble? How internet use influences early adolescent behavior through diverse pathways?," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-17, December.
    16. Kang, Yankun & Liang, Shuyuan & Bai, Caiquan & Feng, Chen, 2020. "Labor contracts and parents’ educational expectations for children: Income effect or expected effect?," Children and Youth Services Review, Elsevier, vol. 118(C).
    17. Ansong, David & Wu, Shiyou & Chowa, Gina A.N., 2015. "The role of child and parent savings in promoting expectations for university education among middle school students in Ghana: A propensity score analysis," Children and Youth Services Review, Elsevier, vol. 58(C), pages 265-273.
    18. Elliott, William & Destin, Mesmin & Friedline, Terri, 2011. "Taking stock of ten years of research on the relationship between assets and children's educational outcomes: Implications for theory, policy and intervention," Children and Youth Services Review, Elsevier, vol. 33(11), pages 2312-2328.
    19. Maria José Roa, 2015. "Financial Inclusion in Latin America and the Caribbean: Access, Usage and Quality," Documentos de Investigación - Research Papers 19, CEMLA.
    20. Shaojie Qi & Hao Liu & Fengrui Hua & Xiangshu Deng & Zheng Zhou, 2022. "The Impact of Household Assets on Child Well-being: Evidence from China," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 17(5), pages 2697-2720, October.
    21. Lewis, Melinda & Cramer, Reid & Elliott, William & Sprague, Aleta, 2014. "Policies to promote economic stability, asset building, and child development," Children and Youth Services Review, Elsevier, vol. 36(C), pages 15-21.

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