Debt, Cohabitation, and Marriage in Young Adulthood

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Abstract

<p class="first" id="P1">Despite growing evidence that debt influences pivotal life events in early and young adulthood, the role of debt in the familial lives of young adults has received relatively little attention. Using data from the NLSY 1997 cohort (N = 6,749) and a discrete-time competing risks hazard model framework, I test whether the transition to first union is influenced by a young adult’s credit card and education loan debt above and beyond traditional educational and labor market characteristics. I find that credit card debt is positively associated with cohabitation for men and women, and that women with education loan debt are more likely than women without such debt to delay marriage and transition into cohabitation. Single life may be difficult to afford, but marital life is unaffordable as well. Cohabitation presents an alternative to single life, but not necessarily a marital substitute for these young adults. </p>

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Event History Analysis

Paul Allison (1984)

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Trends in educational assortative marriage from 1940 to 2003.

Christine R. Schwartz, Robert D. Mare (2005)

This paper reports trends in educational assortative marriage from 1940 to 2003 in the United States. Analyses of census and Current Population Survey data show that educational homogamy decreased from 1940 to 1960 but increased from 1960 to 2003. From 1960 to the early 1970s, increases in educational homogamy were generated by decreasing intermarriage among groups of relatively well-educated persons. College graduates, in particular; were increasingly likely to marry each other rather than those with less education. Beginning in the early 1970s, however; continued increases in the odds of educational homogamy were generated by decreases in intermarriage at both ends of the education distribution. Most striking is the decline in the odds that those with very low levels of education marry up. Intermarriage between college graduates and those with "some college" continued to decline but at a more gradual pace. As intermarriage declined at the extremes of the education distribution, intermarriage among those in the middle portion of the distribution increased. These trends, which are similar for a broad cross section of married couples and for newlyweds, are consistent with a growing social divide between those with very low levels of education and those with more education in the United States.