College loans and scholarships and economic status of parents: An analysis based on the JHPS Second Generation Supplement

Hideo Akabayashi, Jie Wang, Masayuki Kobayashi, Shinpei Sano, Teruyuki Tamura and Michio Naoi
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Jie Wang: Faculty of Economics, Keio University
Masayuki Kobayashi: Oberlin University
Shinpei Sano: Faculty of Economics, Keio University
Teruyuki Tamura: Department of Management, Kyoto College of Economics

No 2021-006, Keio-IES Discussion Paper Series from Institute for Economics Studies, Keio University

Abstract: This paper descriptively analyzes the relationship between college loans and scholarships and the economic status of parents at the time of college attendance using the JHPS Second Generation Supplement (JHPS-G2). We focus on the parental household income, assets, and home ownership as their financial status. Even controlling for observable attributes, household income, asset holdings (net worth), and homeownership are correlated with college enrollment. Among college attendees, those from families with lower parental income, lower financial assets, and higher debt or without home ownership tend to have a higher probability of receiving college scholarships and loans. Although the analysis of this paper remains rather descriptive, the results suggest the need to consider not only parental household income but also their asset status as a determinant of college attendance and scholarship/loan decisions.

Keywords: higher education; scholarship and loan; income inequality; asset inequality (search for similar items in EconPapers)
JEL-codes: I22 I23 I24 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2021-03-31
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Persistent link: https://EconPapers.repec.org/RePEc:keo:dpaper:2021-006

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