Why Bear the Burden of Student Loans?

Abstract This essay investigates what it means for young people in East Asia to go to college by looking at the growing number of young adults who attend higher education using National Student Loans. In-depth interviews with nineteen low-income young adults in South Korea and Japan revealed that the decision to attend college has become more common in both societies, with positive evaluations of National Student Loans and student debts. They strategically positioned their student loans by distinguishing them from other loans. In addition, the author found that higher education has more complex meanings in East Asia than simply a means of economic benefit. For example, in South Korea, higher education was equated with gaining prestige goods, while in Japan, going to college was considered the ideal way for young people to spend their twenties.