Student Loans, College Attendance and Completion, and Family Formation
Student loans are increasingly common among young adults, but implications for family formation patterns and childbearing circumstances have not been fully explored. We analyze the National Longitudinal Survey of Youth 1997 Cohort dataset to examine the relationships of student loans and college attendance and completion to family formation patterns, specifically marriage, parenthood, age at marriage, and age and marital status at first birth. Data examined were collected between 1997 and 2015, and we examine respondents ranging in age from 17-35 during those years, allowing for the consideration of effects across the life course. We find women who had children at early ages were more likely to take out loans to attend college, but at older ages loans were associated with lower parenthood rates among women. Women with loans had marginally lower marriage rates at older ages, were significantly younger on average when they did have children, and were significantly less likely to be married at first birth, even after accounting for differences in age at first birth and selection effects. Loans were not associated with differences in these trends among men, but education was related to distinct family formation trajectories for both men and women.