Date of Award

January 2025

Document Type

Dissertation

Degree Name

Doctor of Philosophy (PhD)

Department

Education, Health & Behavior Studies

First Advisor

Anthony Perry

Abstract

The growing burden of student loan debt in the United States has raised significant concerns about its broader social and economic impacts, particularly on young adults’ ability to achieve financial milestones such as homeownership. Black American college graduates are especially affected, often carrying higher loan balances and facing greater financial barriers due to historical and structural inequalities. This quantitative study examined the role of student loan debt and other factors influencing delayed homeownership among Black American college graduates, using the public-use Baccalaureate and Beyond (B&B: 2008/2018) dataset from the National Center for Education Statistics (NCES). Findings indicated student loan debt, age, non-STEM occupation, and part-time employment are significant predictors of delayed homeownership. Although, the amount of student loan debt does not alter the odds of delayed homeownership, a strong and statistically significant relationship was found (p < 0.001), supporting the Life Cycle Theory, which explains how debt delays financial milestones. Older graduates were less likely to face delays, while those in non-STEM jobs or part-time roles were 65.5% and 83.5% more likely, respectively, to delay homeownership. This study contributes to the literature by highlighting the role of student loan debt in delaying homeownership for Black American college graduates. It also provides insights to help policymakers and financial institutions develop more equitable financial products and housing policies.

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