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Abstract

This study examined the employment activity of master's graduates and the student debt they carry into the workplace over the early years following graduation. State unemployment insurance records were merged with student data files to determine the relationship between academic achievement, financial success, and debt burden of these graduates. Quarterly earnings from the first two years following graduation were regressed on age, grade point average, academic major, gender, race, and industry. Major, industry, age, and grade point average were significant in both years examined. Student debt was regressed over grade point average, gender, race, age, and academic major. Major, grade point average, and age were significant. Excess student debt-calculated based on total student loan debt and earnings-was regressed on academic major, industry, grade point average, age, gender, and race for the first year following graduation. Major, grade point average, gender, and industry were found significant.

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