Paying for Undergraduate Education: Recent Trends in Tuition, Income, Institution Choice, and Debt
Washburn University. School of Business
Kaw Valley Bank
In 1999-00, business students borrowed substantially less to pay for their educations than non-business students. By 2011-12 this difference had disappeared. We describe changes in tuition, incomes, and choice of institution type (public, private non-for-profit, or private for-profit) to help explain this observation. We find an important determinant of both whether a student will take debt, and how much she will take, is the type of institution she attends. We also find that business students were less likely to borrow than liberal arts and humanities majors in the earlier period, but not in the later period.