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.
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