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Does studying economics in college influence loan decisions later in life?

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  • William Bosshardt
  • William B. Walstad

Abstract

The authors investigate the relationship between undergraduate economics coursework or majoring in economics and the debt behavior of the college graduates. The data come from the Baccalaureate and Beyond (B&B) longitudinal survey of the National Center for Education Statistics. College graduates who took courses in undergraduate economics or majored in the subject appear less willing to assume debt through auto loans or federal student loans. If they do assume debt, the amount of the monthly payment (auto loans) or the total amount owed (student loans) is less for college graduates with economics coursework or an economics major compared with other students. The findings are robust for college graduates one year and four years after graduation.

Suggested Citation

  • William Bosshardt & William B. Walstad, 2018. "Does studying economics in college influence loan decisions later in life?," The Journal of Economic Education, Taylor & Francis Journals, vol. 49(2), pages 130-141, April.
    • Handle: RePEc:taf:jeduce:v:49:y:2018:i:2:p:130-141
    DOI: 10.1080/00220485.2018.1438948
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    Cited by:

    1. Ruijun Zhang & Caiyan Lin & Zeping Tong, 2021. "A visual risk identification and early warning research for college net loan based on microblog texts," Risk Management, Palgrave Macmillan, vol. 23(4), pages 261-281, December.

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