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

**