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Research

  • Cultural Barriers to Incurring Debt: An Exploration of Borrowing and Impact on Access to Postsecondary Education

The ECMC Foundation commissioned a statistical analysis of borrowing patterns to explore the question of why certain cultural groups do not take advantage of loan opportunities and as a result, do not pursue postsecondary education. Caliber Associates, a research firm based in Alexandria, Va. worked with the ECMC Foundation on data collection and analysis. Our findings indicate that cultural differences are not statistically significant when socio-economic factors are taken into consideration. However, we found that individuals from lower-income households, non-mortgage households, single parent households, and first generation postsecondary households were less likely to enroll in postsecondary education or if enrolled, more likely to enroll in less expensive programs and less likely to take out educational loans than more advantaged individuals.

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