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Using the Education of Engineering Economy to Impact the Reduction of Engineering Student Loan Debt

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Conference

2018 ASEE Annual Conference & Exposition

Location

Salt Lake City, Utah

Publication Date

June 23, 2018

Start Date

June 23, 2018

End Date

July 27, 2018

Conference Session

Engineering Economy Division Technical Session 1

Tagged Division

Engineering Economy

Page Count

11

DOI

10.18260/1-2--31214

Permanent URL

https://peer.asee.org/31214

Download Count

496

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Paper Authors

biography

Erick Jones University of Texas, Arlington

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Dr. Erick C. Jones is a Professor in Industrial and Manufacturing Systems and focuses on Internet of things (IoT) RFID technologies, Lean Six Sigma Engineering Economics, and Engineering Management research. As a former Alfred P. Sloan Minority PhD Scholar and Center director he has addressed diversity challenges such as implicit bias and unconscious assumptions throughout his career.

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biography

Billy Gray Tarleton State University

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Billy Gray is the Department Head and Assistant Professor in the Department of Engineering Technology at Tarleton State University. He holds a PhD in Industrial Engineering from the University of Texas at Arlington, a Master’s degree from Texas Tech University in Systems and Engineering Management and a Bachelor’s degree from Tarleton in Manufacturing Engineering Technology. He has 10 years of work experience in manufacturing, operations, and engineering management.

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Abstract

The U.S. student debt crisis has become an epidemic for the last two generation of graduate students. Unfortunately, this virus has now expanded to the Engineering fields where debt was minimized by such pursuits as internships, co-ops, and research projects that were supported by scholarships and fellowship funds, especially at the undergraduate level. Many feel that this excessive borrowing is due to student lack of understanding of debt. Faculty who teach Engineering Economy could feel dumbfounded that any engineering student would claim lack time value of money, compound Interest, and depreciation. This study seeks to investigate the impact Engineering courses impact on student decisions towards incurring excessive student debt.

We seek to introduce a test instrument to be used by Engineering Economy courses through the ASEE Econ division outreach that provides insights to student knowledge, perception and intentions on debt before, during, immediately after the class, and longitudinally until one year after graduation. The expected results of the model is to increase understanding and responsibility for EE faculty to educate future engineers about debt, motivate engineering students to be more responsible with money, and to positively impact the student debt crisis.

Jones, E., & Gray, B. (2018, June), Using the Education of Engineering Economy to Impact the Reduction of Engineering Student Loan Debt Paper presented at 2018 ASEE Annual Conference & Exposition , Salt Lake City, Utah. 10.18260/1-2--31214

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