Implications of financial concerns for college goal commitment among undergraduate students in the United States

Financial stress and student loan debt are on the rise among today’s college students. This study examined the associations between financial factors and students’ college goal commitment. A multi-institutional survey was used to assess students’ financial stress, estimated student loan debt, and the perceived importance of career, economic, academic, and co-curricular college goals. Logistic regression analyses found that, after controlling for demographic and academic factors, students with significant financial stress and high levels of debt were more likely to prioritize career, economic, and academic goals for college. Significant interactions between students’ demographic characteristics and their financial concerns were also found.