Variable | M | SD | Any Student Loan | No Student Loan | T-test |
Total Student Loans | $14,400.60 | $27,737.26 | $24,534.42 | $0.00 | . |
Any Loans | 0.59 | 0.49 | 1.00 | 0.00 | . |
Net Worth 1 | $232,965.80 | $519,692.70 | $199,045.90 | $283,797.60 | ** |
High Net Worth 1 | 0.59 | 0.49 | 0.53 | 0.68 | ** |
Baseline Net Worth 2 | $739,188.00 | $981,457.10 | $680,658.50 | $822,543.50 | ** |
Household Gross Income 3 | $180,752.50 | $258,383.20 | $176,762.30 | $186,464.00 | ** |
Household Wage Income | $87,450.30 | $240,861.70 | $87,491.19 | $87,392.18 |
|
High Gross Income 3 | 0.75 | 0.43 | 0.75 | 0.76 | * |
High Wage Income | 0.57 | 0.50 | 0.56 | 0.58 | ** |
Baseline Gross Income 3 | $125,605.10 | $122,738.70 | $116,522.00 | $138,512.60 | ** |
Baseline Wage Income | $37,588.09 | $43,000.25 | $33,614.78 | $43,234.34 | ** |
Age | 33.37 | 8.22 | 33.28 | 33.49 | ** |
Male | 0.45 | 0.50 | 0.46 | 0.44 | ** |
Female | 0.55 | 0.50 | 0.54 | 0.56 | ** |
Black | 0.20 | 0.40 | 0.22 | 0.18 | ** |
Latino | 0.12 | 0.33 | 0.13 | 0.12 | ** |
Other Race | 0.67 | 0.47 | 0.65 | 0.70 | ** |
Four-Year Degree | 0.79 | 0.41 | 0.74 | 0.86 | ** |
Postgraduate Degree | 0.21 | 0.41 | 0.26 | 0.14 | ** |
Family Size 4 | 2.84 | 1.55 | 2.79 | 2.91 | ** |
Single 5 | 0.35 | 0.48 | 0.38 | 0.32 | ** |
Married 5 | 0.54 | 0.50 | 0.51 | 0.58 | ** |
Separated, Divorced, or Widowed 5 | 0.11 | 0.31 | 0.11 | 0.10 | ** |
Welfare Support | 0.03 | 0.17 | 0.03 | 0.03 | ** |
No Welfare Support | 0.97 | 0.17 | 0.97 | 0.97 | ** |
Professional Occupation 6 | 0.23 | 0.42 | 0.25 | 0.21 | ** |
Sales/Admin Occupation 6 | 0.07 | 0.25 | 0.07 | 0.07 |
|
Service, Operations, Farm, Armed Forces 6 | 0.06 | 0.24 | 0.05 | 0.07 | ** |
No Occupation 6 | 0.64 | 0.48 | 0.62 | 0.65 | ** |
Urban 7 | 0.83 | 0.38 | 0.83 | 0.82 |
|
Rural 7 | 0.17 | 0.38 | 0.17 | 0.18 |
|
North East 8 | 0.20 | 0.40 | 0.20 | 0.19 | * |
North Central 8 | 0.24 | 0.43 | 0.26 | 0.21 | ** |
Table 1 (continued) West 8 | 0.18 | 0.39 | 0.18 | 0.19 | * |
South 8 | 0.38 | 0.48 | 0.36 | 0.41 | ** |