Blog Post #10: Abstract and Works Cited

Abstract

     This research paper addresses the problem of student loan debt among Americans, especially low-income students. The increase in college tuition has led to a rise in the number of students and families, who take out loans to pay for education expenses. By the time students graduate college, whether with their bachelor's, master's or doctoral degree, they are swamped in debt. This paper examines the importance of obtaining a graduate degree and uses the theory of human capital to support the idea that through education, people are able to strengthen their knowledge and abilities, which enables them to serve the public and benefit others. Because human capital is a social concept, low-income students, especially those in healthcare professions, should be provided with sufficient financial assistance that allows them to graduate college debt free. Those in healthcare professions have the role of promoting health and delivering health care services to meet the needs of individuals in their communities, contributing to the overall well-being of society. Therefore, the government should create an educational assistance program that covers tuition and fees for students seeking to pursue a career in healthcare. 

Works Cited

“About GI Bill Benefits.” Veterans Affairs, www.va.gov/education/about-gi-bill-benefits/.

Armstrong, Elizabeth, and Laura Hamilton. Paying for the Party: How College Maintains Inequality. Harvard UP, 2013.

Bakalian, Serge and Aurora Meneghello, directors. Default: The Student Loan Documentary.

YouTube, 16 Feb. 2016, www.youtube.com/watch?v=wvQR93C6n2E.

Belasco, Andrew S., Michael J. Trivette, and Karen L. Webber. "Advanced degrees of debt:

Analyzing the patterns and determinants of graduate student borrowing." The Review of Higher Education 37.4 (2014): 469-497.

Carter, Matt. “U.S. Average Student Loan Debt Statistics [March 2020].” Credible, Credible, 18

Nov. 2019, www.credible.com/blog/statistics/average-student-loan-debt-statistics/.

Chakrabarti, Rajashri, et al. “Tuition, Debt, and Human Capital.” FRB of New York Staff Report

912 (2020).

Chiwaya, Nigel. “These Five Charts Show How Bad the Student Loan Debt Situation Is.”

NBCNews.com, NBCUniversal News Group, 24 Apr. 2019, www.nbcnews.com/news/us-news/student-loan-statistics-2019-n997836.

Cooper, Melinda. “In Loco Parentis: Human Capital, Student Debt, and the Logic of Family

Investment.” Family Values: Between Neoliberalism and the New Social Conservatism. Zone Books, 2017. 215-257.

Cord, Robert Daniel, and J. Daniel Hammond. Milton Friedman: Contributions to Economics

and Public Policy. Oxford University Press, 2016, https://www-oxfordscholarship-com.proxy.libraries.rutgers.edu/view/10.1093/acprof:oso/9780198704324.001.0001/acprof-9780198704324-chapter-24?print=pdf.

Draut, Tamara. Strapped: Why America's 20- and 30- Somethings Can't Get Ahead. Doubleday.

2006.

“Education Loans Should Teach Responsibility.” The Wall Street Journal, Dow Jones &

Company, 4 Dec. 2017, www.wsj.com/articles/education-loans-should-teach-responsibility-1512421294.

Malcom, Lindsey E., and Alicia C. Dowd. "The impact of undergraduate debt on the graduate

school enrollment of STEM baccalaureates." The Review of Higher Education 35.2

(2012): 265-305.

Millett, Catherine M. "How undergraduate loan debt affects application and enrollment in

graduate or first professional school." The Journal of Higher Education 74.4 (2003): 386-

427.

Nova, Annie. “The Student Debt Crisis Has Hit Black Students Especially Hard. Here's How.”

CNBC, 27 July 2019, https://www.cnbc.com/2019/07/27/how-the-student-debt-crisis-has-hit-black-students-especially-hard.html

Ortiz, Erik. “These Medical Workers Are Tackling the Coronavirus. They're Also Saddled with

Student Debt.” NBCNews.com, NBCUniversal News Group, 15 Apr. 2020, www.nbcnews.com/news/us-news/these-medical-workers-are-tackling-coronavirus-they-re-also-saddled-n1182211.

Pyne, Jaymes, and Eric Grodsky. “Inequality and opportunity in a perfect storm of graduate

student debt.” Sociology of Education 93.1 (2020): 20-39.

Ryan, C. J. “Paying for Law School: Law Student Loan Indebtedness and Career

Choices.” Available at SSRN 3527863 (2020).

Schultz, Theodore W. “Investment in human capital.” The American economic review 51.1

(1961): 1-17.

Stampen, Jacob O., and Robert H. Fenske. "The impact of financial aid on ethnic minorities."

The Review of Higher Education 11.4 (1988): 337-353.

“Unemployment Rates and Earnings by Educational Attainment.” U.S. Bureau of Labor

Statistics, U.S. Bureau of Labor Statistics, 4 Sept. 2019, www.bls.gov/emp/chart-unemployment-earnings-education.htm.

Winters, John V. “Do Higher Levels of Education and Skills in an Area Benefit Wider Society?”

IZA World of Labor , https://wol.iza.org/Uploads/Articles/462/Pdfs/Do-Higher-Levels-of-Education-and-Skills-in-Area-Benefit-Wider-Society.pdf, Dec. 2018. 

Zhang, Liang. "Evaluating the Impact of the Post-9/11 GI Bill on Veterans' Graduate School

Enrollment." (2019).

Blog Post #9: Argument and Counter-Argument

Argument: Education= Community Benefit= Societal Responsibility

• Because human capital is a social element, the government and citizens should support graduate students. By receiving a higher degree, these individuals are contributing to the wellbeing of society. Therefore, these students, especially those in the medical field, should be provided with sufficient financial assistance, which would be possible in the form of a GI bill.

Counter-Argument: Education = Individual Benefit= Personal Responsibility

• "As a current graduate student, I understand the heavy burden of paying back student loans. However, forgiving student loans fails to prepare students for realistic financial future. I am attending graduate school because I want to increase my future earning potential, and that comes with responsibility to pay for that education." 
• The individual benefits of higher education include higher earnings, better health and better job opportunities. These benefits allow people to live a comfortable lifestyle, leading to the idea that paying for one's education is a personal responsibility. 
• Unlike Schultz, Milton Friedman believed that education leads people to be at a professional advantage; therefore, it is a personal benefit.

Blog Post #8: Case

The following two cases will be used in my paper to explain why members of society should provide support for graduate students. 

Example 1: "How Undergraduate Loan Debt Affects Application and Enrollment in Graduate or First Professional School"

• Students with just $5,000-$10,000 of loan debt from their undergraduate years had between 9%-12% lower probabilities of submitting an application to graduate school than their counterparts, who did not have loan debt.
• Undergraduate indebtedness discourages students from applying to graduate school.
• An individual's socioeconomic status, as well as the financial aid available, plays a major role in their ability to apply and attend a higher education institution.

Example 2: Default: The Student Loan Documentary

• Matt, a borrower of student loans, "It's a weird feeling. Because I wanted to go to school and I wanted to get my master's degree, the rest of my life is dramatically altered. Can I get married? Real, real questions. Can I honestly have children? Because of the loan. And I don't feel like I can do it" (1).
• Matt's personal testimony demonstrates how student loan debt can negatively affect lives.
• Through the concept of human capital, his decision to get a master's degree was his way of boosting his human capital.

Blog Post #7: Frame

The theoretical frame that I will be using in my paper to support my argument is human capital.

Human capital is defined as the knowledge, habits, traits and skills that are unique to an individual, but that influence society's productivity. As the image below demonstrates, education influences the formation of one's human capital. Theodore Schultz, an American, academic economist, viewed education as an investment, in which people gain personal and societal benefits. This means that by receiving a higher education, individuals are able to develop skills and knowledge that lead them to become productive members of society and valuable employees.

Literature Review #4

"The Impact of Undergraduate Debt on the Graduate School Enrollment of STEM Baccalaureates"

Malcom, Lindsey E., and Alicia Dowd. "The impact of undergraduate debt on the graduate school enrollment of STEM baccalaureates." The Review of Higher Education 35.2 (2012): 265-305.

In "The Impact of Undergraduate Debt on the Graduate School Enrollment of STEM Baccalaureates," the authors discuss how heavy borrowing for schooling can affect further schooling and future investments. They explore the question of whether undergraduate debt, for those in STEM fields, affects application into graduate school. 

Lindsey Malcom is the Associate Director for Research and Policy at the Center for Urban Education in the USC Rossier School of Education. Most of her research has involved analyzing the relationship between minority students in STEM fields, the financial aid provided to these students, and their

Lindsey E. Malcom

Alicia C. Dowd

educational outcomes. Her main focuses have been educational equity in STEM and gender equity among minority students.

Alicia Dowd is a senior research associate at Penn State's Center for the Study of Higher Education and is also a professor of education at PSU. Most of her research focuses on problems involving racial equity in postsecondary outcomes. Dowd's research has enabled her to identify several factors that affect student experiences and their drive towards attaining a higher degree.

Malcom and Dowd's roles and involvement in education makes them credible sources for my research paper. The problems they focus on exploring and explaining through their research connect to one of my main ideas, which is that debt falls heavily on non-affluent students, affecting various aspects of their lives. 

Key Terms:

• "Investment Decisions:" making decisions based on one's funds; how much can one spend based on their current economic situation and how it will affect them.
• "Baccalaureates:" one who has attained a college bachelor degree.
• "STEM:" science, technology, engineering and mathematics. 

Quotations:

• "Increases in college participation among low-income students and students from underrepresented racial-ethnic minority groups in the second half of the 20th century indicate that the federal role in promoting equity had been a partial success" (Malcom & Dowd 266-267).
• "The estimates of the negative effect of typical debt, as measured by the ATT, ranged between 13.8% and 10.0% among Latinos, African Americans, and Asians, who were all less likely to enroll in graduate school than their counterparts who did not borrow" (Malcom & Dowd 289).
• "For Latinos, the negative effect of heavy borrowing on graduate school enrollment is larger than the effect of typical borrowing" (Malcom & Dowd 293).
• "The insignificant effect of heavy debt among African Americans and Asian could provide evidence that graduate degree aspirations can endure heavy borrowing for students who have concrete career plans and are willing to borrow to the extent necessary to realize those plans" (Malcom & Dowd 294).

Value:
This article has provided me with useful information on the relationship between debt and application into graduate school. Because the researchers focus on minority students in STEM fields, I believe that the data and information presented can support my research question. 

Blog Post #6: Visual

This graph demonstrates that student loan debt is the highest type of debt in the U.S. Beginning in 2010, student debt became the second highest consumer debt category, putting auto loan and credit card debt at the bottom of the list. 

Throughout the years, tuition has skyrocketed, causing individuals to have to take out loans in order to receive a higher education. These two graphs display the average cumulative student loan balance for master's and doctorate degree completers, by degree program. Although the graphs only demonstrate the change until 2016, I am certain that these numbers have increased since then. By looking at these graphs, it is evident that the rise of tuition has contributed to the increase in student loan debt. The amount of loan debt an individual has depends on the degree program they are in and the years of schooling. For professions such as doctors, pharmacists, lawyers and teachers, advanced study in graduate school is required. However, the problem is, how are students, especially those who come from a low socioeconomic background, supposed to afford a higher education? The answer simply becomes, loans. Because these individuals value education and understand that it is likely that they will be successful in their future if they receive a higher education, they are willing to take out as many loans as needed. 

These graphs become important for my research paper because they serve as a basis for my main idea, which is how the rise of tuition and the need to take out loans to pay for schooling influences application into graduate school. 

Literature Review #3

"How Undergraduate Loan Debt Affects Application and Enrollment in Graduate or First        Professional School"

Millett, Catherine M. "How undergraduate loan debt affects application and enrollment in graduate or first professional school." The Journal of Higher Education 74.4 (2003): 386-427.

In "How Undergraduate Loan Debt Affects Application and Enrollment in Graduate or First Professional School," Catherine Millett discusses one of her studies, which focuses on the effect of undergraduate debt on a student's likelihood of enrolling in graduate or professional school. Through her research, she found that undergraduate indebtedness discourages students from applying to graduate school. She also found that an individual's socioeconomic status plays a major role in their ability to apply and attend a higher education institution. 

Catherine M. Millett

Catherine M. Millett is a senior research scientist in the Policy Evaluation and Research Center at Educational Testing Service, or ETS, in Princeton, New Jersey. Most of her research focuses on educational equity, student performance and achievement and educational access. Millett's involvement in educational programs and support services makes her a credible source for my research paper.

Key Terms:

• "Foregone Income or Earnings:" the amount of money achieved vs. the amount of money that could have been achieved with the absence of fees.
• "Indebtedness:" having to make repayments.

Quotations: 

• "The rather large gap between the high degree expectations of recent bachelor's degree recipients and their low rate of enrolling in graduate school raises questions about how accessible graduate education is to recent U.S. college graduates" (Millett 389).
• "One predictor of enrollment in graduate or first professional school that may offset the influence of undergraduate debt is the offer of financial aid" (Millett 394). 
• "On the basis of this research, students with relatively high foregone income can be less likely to apply or less likely to enroll in graduate or professional school than students with comparatively low foregone incomes" (Millett 418). 

Value: 
Although this research was performed years ago, I believe that it gives a clear understanding of the effects of undergraduate debt on students. Undergraduate indebtedness still continues to be a factor that students consider before determining what their next steps in life will be. Through her research, Millett found that those with high levels of loan debt are less likely to attend graduate school; however, the importance of a master's and doctoral degree in today's workforce, has led students to attend graduate or professional school regardless of the amount of debt they are already in.

Blog Post #5: Bibliography

Armstrong, Elizabeth, and Laura Hamilton. Paying for the Party: How College Maintains Inequality. 
     Harvard, UP, 2013.
Bakalian, Serge and Aurora Meneghello, directors. Default: The Student Loan Documentary. 
     YouTube, 16 Feb. 2016, www.youtube.com/watch?v=wvQR93C6n2E.
Belasco, Andrew S., Michael J. Trivette, and Karen L. Webber. "Advanced degrees of debt:
     Analyzing the patterns and determinants of graduate student borrowing." The Review of Higher 
     Education 37.4 (2014): 469-497.
Chakrabarti, Rajashri, et al. "Tuition, Debt, and Human Capital." FRB of New York Staff Report 912
     (2020).
Cooper, Melinda. "In Loco Parentis: Human Capital, Student Debt, and the Logic of Family
     Investment." Family Values: Between Neoliberalism and the New Social Conservatism. Zone
     Books, 2017. 215-257.
Draut, Tamara. Strapped: Why America's 20- and 30- Somethings Can't Get Ahead. Doubleday.
     2006.
Malcom, Lindsey E., and Alicia C. Dowd. "The impact of undergraduate debt on the graduate school
     enrollment of STEM baccalaureates." The Review of Higher Education 35.2 (2012): 265-305.
Millett, Catherine M. "How undergraduate loan debt affects application and enrollment in graduate             or first professional school." The Journal of Higher Education 74.4 (2003): 386-427.
Pyne, Jaymes, and Eric Grodsky. "Inequality and opportunity in a perfect storm of graduate student
     debt." Sociology of Education 93.1 (2020): 20-39.
Ryan, C. J. "Paying for Law School: Law Student Loan Indebtedness and Career Choices." Available 
     at SSRN 3527863 (2020).

Blog Post #4: Research Proposal

A Working Title
Higher Education: A Road to Success or a Debt Trap for Less Affluent Students?

Topic Description
     There are numerous professions in which advanced study in graduate school is required: doctors, pharmacists, lawyers, public school teachers, etc. Along with being necessary for certain professions, graduate degrees are associated with higher pay and career stability. As Anya Kamenetz explains in Default: The Student Loan Documentary, "for the people who are just getting a bachelor's degree, the bonus or the payoff of that degree has not actually been growing" (3). According to the U.S. Bureau of Labor Statistics, unemployment rates and earning vary by an individual's educational attainment. For example, the unemployment rate for someone with a bachelor's degree is 2.2%, while for someone with a master's degree it is 1.7% and with a professional degree it is 1.2%. This demonstrates that the main benefits of graduate school include greater employment opportunities, professional growth, higher pay and greater career advancement. Although higher education provides better job opportunities and increases the likelihood of living a comfortable lifestyle, the cost of graduate school and the need to take out loans impacts the number of opportunities that are available.
     Loans have become the major form of financial assistance for students across the United States. There are about 44 million Americans with student loan debt. In 2019, the country's student loan debt reached $1.5 trillion-40% being graduate school debt (Carter). The average undergraduate loan debt is $35,000 and the average for graduate school is $84,300 (this number being higher for law and medical school students). Student loan debt is a burden that this generation of students are experiencing, and that the generations to follow will most likely experience to a greater degree. Reflecting on the total amount of loans one must repay after their undergraduate education, along with how it might interfere with their ability to reach financial stability and important life milestones, is an image that might steer individuals away from attending graduate school.
     In this research paper, I will explore how student loans may affect one's decision to enroll in graduate school. I will focus on explaining the reasons why individuals might be hesitant to apply and register to graduate school, and describing some of the difficulties they might experience due to their student loan debt.

Research Question
To what extent do student loans affect one's decision to enroll in graduate school? If one decides to attend graduate school, how does the total amount of student loan debt then affect their lives?

Theoretical Frame
     The human capital theory can be used to explain the reason why individuals enroll in graduate school, regardless of the amount of debt they are, and will be in. Human capital can be defined as the knowledge, traits, habits and skills that are unique to an individual, but that influence society's productivity. Human capital is formed and improved through education; therefore, it is often viewed as an investment. Theodore Schultz, who was an American, academic economist, "first popularized the idea that spending on human services such as education should be considered an investment rather than an act of consumption (Cooper 219). He believed that education was a tool to help the entire society, not only the individuals with college degrees. An individual's human capital contributes to their nation's growth because they are able to share their abilities with others and take on important roles within their careers. One's decision to receive an undergraduate education, followed by graduate or professional school, even if their family does not have the funds, is their way of wanting more of themselves and increasing their human capital. By taking out loans to pay for one's education, one is supporting their human capital, which they are able to benefit from once they finish their schooling. In this case, the benefits of a college education and degree outweigh the effects of student loan debt because pursuing higher education can leads to higher earnings, better health, better job opportunities and a comfortable lifestyle.

Example
     Default: The Student Loan Documentary shares the stories of several borrowers, who have found themselves drowning in debt. Throughout the documentary, each of the individuals describe the process of paying off their debt and the challenges they have experienced. Matt, one of the borrowers, begins his story stating, "it's a weird feeling. Because I wanted to go to school and I wanted to get my master's degree, the rest of my life is dramatically altered. Can I get married? Real, real questions. Can I honestly have children? Because of the loan. And I don't feel like I can do that" (1). Matt made the decision to attend graduate school because he wanted to obtain a master's degree, but little did he know that it would change various aspects of his life. In the documentary, he questions if he will ever be able to form a family and make large future payments, such as buy a house, because of the debt he is in. Matt's personal testimony clearly demonstrates how student loan debt can damage lives; however, if his story is viewed through the concept of human capital, his decision to get a master's degree was his way of boosting his human capital.

Works Cited
Armstrong, Elizabeth, and Laura Hamilton. Paying for the Party: How College Maintains Inequality. 
     Harvard, UP, 2013.
Bakalian, Serge and Aurora Meneghello, directors. Default: The Student Loan Documentary. 
     YouTube, 16 Feb. 2016, www.youtube.com/watch?v=wvQR93C6n2E.
Belasco, Andrew S., Michael J. Trivette, and Karen L. Webber. "Advanced degrees of debt:
     Analyzing the patterns and determinants of graduate student borrowing." The Review of Higher 
     Education 37.4 (2014): 469-497.
Chakrabarti, Rajashri, et al. "Tuition, Debt, and Human Capital." FRB of New York Staff Report 912
     (2020).
Cooper, Melinda. "In Loco Parentis: Human Capital, Student Debt, and the Logic of Family
     Investment." Family Values: Between Neoliberalism and the New Social Conservatism. Zone
     Books, 2017. 215-257.
Draut, Tamara. Strapped: Why America's 20- and 30- Somethings Can't Get Ahead. Doubleday.
     2006.
Malcom, Lindsey E., and Alicia C. Dowd. "The impact of undergraduate debt on the graduate school
     enrollment of STEM baccalaureates." The Review of Higher Education 35.2 (2012): 265-305.
Millett, Catherine M. "How undergraduate loan debt affects application and enrollment in graduate             or first professional school." The Journal of Higher Education 74.4 (2003): 386-427.
Pyne, Jaymes, and Eric Grodsky. "Inequality and opportunity in a perfect storm of graduate student
     debt." Sociology of Education 93.1 (2020): 20-39.
Ryan, C. J. "Paying for Law School: Law Student Loan Indebtedness and Career Choices." Available 
     at SSRN 3527863 (2020).

Literature Review #1

Draut, Tamara. Strapped: Why America's 20- and 30- Somethings Can't Get Ahead. Doubleday. 2006.

In Strapped: Why America's 20- and 30- Something Can't Get Ahead, Tamara Draut explains how Americans in their 20's and 30's struggle to achieve financial independence because of their student loan debt. Draut describes the economic changes that have occurred over the last few decades by connecting them to the social and cultural aspects of one's life. Throughout her book, she provides different examples of adulthood milestones that are either put on hold or achieved with difficulties.

Tamara Draut

Tamara Draut is the Vice President of Policy and Research at Demos, a think tank in New York City, that focuses on analyzing policies and practices that maintain inequality within communities and larger systems. She is a part of a group of individuals that value diversity and hope for a better future, in regard to politics, the economy and educational opportunities. Draut's role in this organization, as well as her focus on wealth inequality, makes her knowledgeable on the topic of student loan debt and its effect on college graduates.




Key Terms: 

• "Strapped:" short of money, or tied down by debt and bills. 
• "Generation Debt:" the generation of young individuals carrying student loan debt.
• "Dreams Deferred:" postponing a dream.

Quotations:

• "First job. First house. First child. These 'firsts' when strung together, traditionally signal the arrival of adulthood. Today, we can add dodging debt collection calls and filing bankruptcy to the list. Between college debt and the spillover effects of paycheck paralysis, piling up debt has become a new rite of passage into adulthood" (Draut 91).
• "After paying back loans for three years, some young adults are less likely to agree that the benefits of a college degree make the debt worthwhile. Borrowing for college is a lot like buying a new car. By the time that great 'new car smell' wears off, so does the joy of owning the car" (Draut 96). 
• "Today's young adults are hitting the marker of home ownership later in life and paying more in real terms than their parents did. It now takes two full-time earners to pay the mortgage for a modest house in a good school district-which increasingly is located farther from jobs and families than in the past" (Draut 147). 

Value: 
This book can help me explore my research question because it provides me with information on the debt crisis and examples of obstacles young adults face as they transition from college into "adulthood." This book was written a while back; therefore, the data presented has most likely changed. However, I think that it would be useful in comparing the change in tuition fees and different generations of students.

Blog Post #3: Research Question & Three Academic Sources

Adulthood is characterized by major life milestones-moving out, buying a house, getting married and having children. Throughout college, many students dream of reaching these milestones and achieving greatness; however, their debt puts a hold on their life, delaying the transition into adulthood and hindering their ability to thrive. Therefore, my research question is, how does student loan debt affect a young adult's transition into adulthood?


Source 1: Bozick, Robert, and Angela Estacion. "Do Student Loans Delay Marriage? Debt Repayment and Family Formation in Young Adulthood." Demographic Research 30 (2014): 1865-1891.

In "Do student loans delay marriage? Debt repayment and family formation in young adulthood," Robert Bozick and Angela Estacion explore whether or not student loan debt influences family formation. They explain that "while paychecks and bills, to varying degrees, are not unfamiliar to college graduates, the student loan repayment process represents a new and oftentimes substantial 'shock' to their cash flow;" (Bozick and Estacion 1868-1869) therefore, influencing their ability to transition into adulthood. Bozick and Estacion's research demonstrates that student loan debt limits choices and affects life decisions in young adults, especially in women. Their findings serve to show that loan repayment affects decision-making, economic stability and relationships, leading to delayed adulthood.

Source 2: Elliott, William, and Sondra Beverly. "Staying on course: The effects of savings and assets on the college progress of young adults." American Journal of Education 117.3 (2011): 343-374.

In "Staying on Course: The Effects of Savings and Assets on the College Progress of Young Adults," William Elliott and Sondra Beverly focus on education as a part of the American Dream. Their research seems to suggest that saving money for college leads to success; however, there are financial and personal differences among individuals. Not every student and their family have the finances to save for college or are provided with financial assistance. In their conclusion, Elliott and Sondra state that "many [students and their families] have to rely on education loans that may be difficult to repay, leaving them strapped with debt much of their adulthood" (368). This connects with my idea that debt have a negative effect on personal growth and delays financial stability, which impacts other aspects of adulthood.


Source 3: Arnett, Jeffrey Jenson. "Emerging adulthood: A theory of development from the late teens through the twenties." American psychologist 55.5 (2000): 469-480.

In "Emerging Adulthood: A Theory of Development From the Late Teens Through the Twenties," Jeffrey Arnett discusses about the concept of emerging adulthood, its characteristics and the differences among people. He explains that "emerging adulthood is distinguished by relative independence from social roles and from normative expectation" (Arnett 469). It is a period of change and exploration, where individuals learn about the opportunities around them and make important life decisions. I believe that this article can be used in the beginning of my research paper, where I will focus on explaining the concept of emerging adulthood and its importance, followed by how student loan debt effects this period of life.