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Louisiana teachers' union concerned about educators' future; Supreme Court hears arguments in Trump immunity case; court issues restraining order against fracking waste-storage facility; landmark NE agreement takes a proactive approach to CO2 pipeline risks.

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Speaker Johnson accuses demonstrating students of getting support from Hamas. TikTok says it'll challenge the ban. And the Supreme Court dives into the gray area between abortion and pregnancy healthcare, and into former President Trump's broad immunity claims.

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The urban-rural death divide is widening for working-age Americans, many home internet connections established for rural students during COVID have been broken, and a new federal rule aims to put the "public" back in public lands.

Illinois Study: Family Debt Affects Ability to Graduate College

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Wednesday, June 4, 2014   

SPRINGFIELD, Ill. - Family financial "smarts" may be just as important as "book smarts" when it comes to a student's ability to finish college. A new study from the University of Illinois suggests that family debt diminishes a student's prospects of graduating from college.

Social work professor Min Zhan said the research found that students from higher-income families are more likely to earn degrees, but the association between income and graduation rates lost its statistical significance when family assets and debt were factored in.

"We still look at income a lot," Zhan said, "but family assets and debt play a very important role in children's education."

The study also found that debt had a greater negative impact on graduation rates for black students than white students. One reason for the discrepancy, Zhan said, is that the debt-to-asset ratio was 50 percent higher among black families - meaning on average, they are shouldering a much heavier financial burden.

Zhan said the findings underscore the importance of a family building financial health and reducing debt in order to better support their college-bound children - not only financially, but to instill good habits for the future. She said she thinks better financial education is needed for families, long before their kids are college-age.

"Encourage the savings from early on to people - for example, the College Saving Plan, 529 plans - long-term investment, instead of relying on loans," she said.

Zhan said the research indicates lower interest rates also would help families manage college loans, and help students reduce the burden of paying for higher education.

The study, published in the academic journal "Children and Youth Services Review," is available online at sciencedirect.com.


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