The relationship between debt aversion and college enrollment by gender, race, and ethnicity: a propensity scoring approach
使用倾向得分匹配法，研究了高中生的债务厌恶（不愿借钱上大学）对大学入学和融资选择的影响，发现债务厌恶对男性和白人非西班牙裔学生的入学率有显著负面影响，而女性和黑人学生更可能报告中等程度的债务厌恶。
Borrowing has become increasingly central to U.S. students’ college financing choices. However, concerns about indebtedness may serve as a barrier to attaining a college degree for many students, particularly women and Black and Hispanic students. This study explores the determinants and heterogeneous impacts of debt aversion, or aversion to borrowing for college. I use a propensity score matching strategy to estimate the relationship between debt aversion and the college enrolment and financing choices of high school students while controlling for confounding variables such as students’ pecuniary valuation of college, college preparedness, and family background. More debt-averse students borrow less than other students if they enroll in college and generally attend lower cost colleges. Women and Black students are more likely on average to report moderate debt aversion than other students. Strong debt aversion is associated with lower college enrollment only for men and white, non-Hispanic students, and highly debt-averse women tend to report lower borrowing relative to the control group than similarly situated men. The results point to the need for a combination of robust college counseling in high schools and readily accessible income-based repayment programs.