Economics at your fingertips  

Attitudes to debt among indebted undergraduates: A cross-national exploratory factor analysis

Neil Harrison, Steve Agnew and Joyce Serido

Journal of Economic Psychology, 2015, vol. 46, issue C, 62-73

Abstract: This paper reports the results of a cross-national study spanning England, New Zealand and the United States. A total of 496 first year undergraduates studying business or social science completed a 20-item questionnaire. This focused on their attitudes to their debt incurred while studying, as measured on a five-point Likert scale. A factor analysis model was developed, from which four consistent factors emerged, explaining 45 percent of the variation and consistent between countries. These factors were named: Anxiety, Utility-For-Lifestyle, Utility-For-Investment and Awareness. The first three factors were found to be uncorrelated with each other, but higher Awareness was associated with lower levels of Anxiety and Utility-For-Lifestyle and higher levels of Utility-For-Investment. The relationship with previous studies and implications for theory and practice are discussed.

Keywords: Debt attitudes; Factor analysis; Higher education; Consumer attitudes and behaviour; Educational finance (search for similar items in EconPapers)
JEL-codes: I22 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

DOI: 10.1016/j.joep.2014.11.005

Access Statistics for this article

Journal of Economic Psychology is currently edited by G. Antonides and D. Read

More articles in Journal of Economic Psychology from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

Page updated 2021-09-14
Handle: RePEc:eee:joepsy:v:46:y:2015:i:c:p:62-73