Abstract

Despite record student debt and the growing importance of graduate education, little is known about what drives graduate student borrowing. In response to that research gap, this study draws on several national data sources to analyze the patterns and predictors of education-related debt among graduate students specifically. Adjusted Wald tests show that borrowing among graduate students has increased in recent years, particularly at the master’s and doctoral level, while multilevel tobit analysis suggests that several demographic, disciplinerelated, and institution-level variables exert significant influence on cumulative graduate debt.

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