| This study centered on University of Memphis first year college students' and transfer students' perceptions of the Federal college loan process during the 2006-2007 academic year. This quantitative, ex post facto study used a modified version of the National Student Loan Survey (NASLS) to gather data regarding students' perceptions of the student loan process, their knowledge of the loan process, and their awareness of their rights and responsibilities. Additionally, the study examined differences between first year college students' and transfer students' knowledge, awareness, and perceptions. The dependent variables were perceptions of borrowing, knowledge, rights, and responsibilities. The independent variable was type of student (first year college, transfer students). The control variables were ethnicity (Caucasian, African American) and SES (parents' income). Descriptive statistics, independent t-test, and Analysis of Variance (ANOVA) were used to analyze the data collected by administration of the survey. First, there were found to be significant differences between the responses of first year students and transfer students with regard to borrowing, knowledge, and awareness of responsibilities and rights for accepting and repaying student loans; the null hypothesis of no difference between the student groups was rejected. Second, there was found to be no difference in the responses of first year and transfer students regarding perceptions of the loan process, based on ethnicity or socio-economic status; the null hypothesis was accepted. |
