Financial Independence By Education Attainment Of Young Adults: Evidence From The 2009 Transition To Adulthood National Study

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Major Area of Focus

Secondary area of focus

Short Abstract

The purpose of this study is to identify factors associated with perceived financial independence among a national sample of young adults aged 18-23 who are transitioning from financial dependence to financial independence. Specifically, the association between education attainment and financial independence of young adults is examined. Data used were from the 2009 Transition to Adulthood and its parental companion data set, Panel Studies of Income Dynamics. Results indicate that college graduates demonstrate a higher level of financial independence than their counterparts who never attended college or are currently in college. Common and differential factors associated with financial independence are also identified among four education groups, having never attended college, been in college, dropped out of college, and graduated from college.

Corresponding Author

Jing Jian Xiao, Ph.D., Univeristy of Rhode Island

Job Title

Professor

City & State (or Province & Country)

Kingston, RI

Additional Authors

Swarn Chatterrjee, University of Georgia

Job Title

Assistant Professor

City & State (or Province & Country)

Athens, GA

2013 Conference

April 10–12, 2013

The Benson Hotel, Portland, Oregon

This section lists poster sessions as well as concurrent sessions by day, time, and room. Concurrent sessions have multiple presentations. You may search by title, author names, or keyword. A Schedule-at-a-Glance is posted on the Website and will provide the overview. This is the detail.