Disparities in American Graduate Students’ Tendency to Borrow: Race, Family Background, and Major

Abstract

This study uses National Postsecondary Student Aid Study of 2012 data to examine disparities in graduate students’ borrowing tendency. Results show Black and Hispanic students, students in education, humanities, and social sciences, and students of parents with lower education level are more likely to borrow for graduate education, even after controlling for financial factors and enrollment pattern. Institution’s size and student body racial distribution are associated with borrowing likelihood, while no gender difference is detected.