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Journal of Student Financial Aid
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Degree Attainment of Undergraduate Student Borrowers in Four-Year Institutions: A Multilevel Analysis
Vol. 37, No. 3, 2008 p. 5
by Dai Li
Recent research on loan effects on student borrowers has focused
on pre-college and post-college behavior, neglecting the loan effects
during the within-college period. This study integrated the
student retention models and financial nexus model to investigate
the effects of different kinds of financial aid on degree attainment
of undergraduates in 4-year institutions. The author employed
multilevel analysis to examine the effects of loans and grants
in within-institution, between-institutions, and comprehensive
models, and found that grants were a better financial means than
loans in assisting students to receive a degree.