Page 30 - Payne Research Center ~ Money Matters

P A Y N E C E N T E R . OR G
By examining the interplay of various debt types, this future study could provide valuable insights for enhancing financial education and counseling programs.
While this research provides valuable insights into the credit and debt behaviors of HBCU students, it is important to acknowledge that credit card debt is only one component of their overall debt burden. Many students also carry significant amounts of student loan debt, which can have a profound impact on their financial well-being and their ability to achieve their long-term goals. Future research should take a more holistic approach to understanding student indebtedness by examining the combined impact of credit card debt, student loans, and other forms of borrowing.
This research could also explore how the deferred repayment of student loans, which often begins after graduation, may mask the true extent of students’ debt burden. Students may not fully realize the financial implications of their student loans until they enter the workforce and begin making payments. This deferred impact can lead to financial difficulties and stress, particularly for students who struggle to find well-paying jobs or who face unexpected financial challenges. By examining this issue, future research can provide valuable insights into the long-term consequences of student loan debt and inform the development of more effective interventions and support services.
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