Parental Monetary Contributions during College: Effect on Student Post-Graduation Job Attainment
Open Access
- Author:
- Henry, Paige
- Area of Honors:
- Finance
- Degree:
- Bachelor of Science
- Document Type:
- Thesis
- Thesis Supervisors:
- Christoph Hinkelmann, Thesis Supervisor
Brian Spangler Davis, Thesis Honors Advisor - Keywords:
- Parental aid
college financing
paying for college
job attainment
career potential
financial aid
job search
salary - Abstract:
- Attending college is a social norm in America due to its ample benefits, especially better job opportunities and higher earning potential, which are the main motivations for most to attend college. However, a sizable downside accompanies these advantages: the incredibly high financial cost for a four-year degree. There are numerous methods to finance the large expense a college education requires, including awards without the need for future repayment or loans that accrue a great deal of interest over the life of the loan. Despite the many options to pay for school, the most common form of financial contributions toward a student’s education are those directly from parents, whether from their personal income or savings, college savings plans, or borrowing parent loans. Past studies have investigated various factors, such as parental socioeconomic status or working while enrolled in school, that can impact a student’s academic achievement, degree completion, or early work experiences. One study found that more parental monetary contributions increased the likelihood for degree completion, but decreased student GPA, suggesting a negative influence on an important component of a student’s education. With this finding, it is imperative to understand other factors that may impact major student outcomes, such as job attainment experiences. In this thesis, the relationship between parental aid for undergraduate education and student job attainment after graduation is explored through the statistical analysis of three characteristics representing early work experiences: number of job offers received, salary, and degree of career potential at their job one year after receiving their degree. It will be determined whether there is a positive or negative effect on these experiences from parental contributions, as well as other relevant predictors, so that students and families can make more educated decisions when financing a degree.