Date of Award
12-2024
Culminating Project Type
Dissertation
Styleguide
apa
Degree Name
Higher Education Administration: Ed.D.
Department
Educational Administration and Higher Education
College
School of Education
First Advisor
Jennifer Jones
Second Advisor
Gresham Collom
Third Advisor
Emeka Ikegwuonu
Fourth Advisor
Tara Winchester
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Keywords and Subject Headings
COVID-19, FASFA, Financial Literacy, Student Loan Debt, Student Loan Moratorium
Abstract
The current study was conducted to better understand the impact of student loan debt and student loan moratorium for graduates during the COVID-19 pandemic. This study utilized a qualitative research design using narrative inquiry to better understand participants experiences. The conceptual framework for this study was Bourdieu’s (1977) Framework on Economic Capital, Cultural Capital, and Reproduction and Perna’s (2006) College Choice Model. Participants in this study graduated in 2020 or 2021 with student loan debt, had federal loans and were enrolled in a repayment plan, and had forbearance status for part or all of the COVID-19 pandemic. This study had four participants that completed a demographic survey, and two zoom interviews. This study’s findings reveal that all participants wouldn’t have been able to pursue higher education if it wasn’t for student loans. Findings from this study indicate that the COVID-19 pandemic and student loan moratorium provided borrowers with a feeling of peace and stability, and the opportunity to accrue wealth. Findings also indicate that our student loans system is broken, more borrowers are struggling with mental health, and that there is a need for financial literacy for college students. Suggestions for future research include following up with these current participants five years from now, completing a cross-generational student interviewing student loan borrowers and their parents to have a better understanding on financial decision-making, student loan debt, and financial literacy knowledge overtime. Further exploration on Public Student Loan Forgiveness due to the changes in the FAFSA, eligibility for PELL Grants and the SAVE repayment plan is also recommended.
Recommended Citation
Meints, Britta R., "The Impact of Student Loan Debt and the Student Loan Moratorium for Graduates During the COVID-19 Pandemic" (2024). Culminating Projects in Higher Education Administration. 91.
https://repository.stcloudstate.edu/hied_etds/91
Comments/Acknowledgements
As a first-generation college student, I never thought I’d be here today. I thought I was done after obtaining my bachelor’s degree from Iowa State (Go Cyclones!). But, like many Higher Education and Student Affairs professionals, my higher education journey was positively influenced by faculty and staff members. Before I knew it, I was working towards a master’s degree, and now today, I am finishing my doctorate degree. It’s been an incredible journey, and there a few people I need to thank.
First and foremost, I need to thank my husband, Ethan. Ethan has been my cheerleader since day one, and has constantly encouraged me, even when I was ready to throw in the towel. During this program, we navigated parenthood as we welcomed two babies into this world, Rudy (3) and Rory (1). Pursuing a doctorate degree while navigating parenthood has been a constant challenge, but Ethan has been there every step of the way. Operating most days on little to no sleep (thanks kids), there’s still no one I’d rather do this life with. Thank you for supporting me every step of the way and keeping me company on the late nights of writing – I am forever thankful for you.
To my littlest loves, Rudy and Rory: you’ve attended more doctoral classes than most people; you’ve been a big part of this journey over the last four years. While your support wasn’t quite there yet, you offered joy and laughter during stressful times, and smiles and snuggles whenever I needed them. Being your mom is the greatest joy of my life.
Finally, I want to thank my committee: Drs. Jennifer Jones, Gresham Collom, Emeka Ikegwuonu, and Tara Winchester. Dr. Jones has always been a listening ear and has always pushed me to be better. I am so thankful for her encouragement throughout this process, and her constant support. She reminded me consistently that “Moms can do hard things!” and I am so thankful to have had her as an advisor.