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High school seniors who are likely to borrow money when college costs substantially exceed what they, their family, and a scholarship can provide are significantly more likely to attend college than other students who would choose other options (delaying college entrance, attending a less expensive college, or getting a job). The policy shift from grants to loans as the major form of student financial aid had been blamed for the diminished participation of minority students in higher education. However, the analysis that examined variables associated with attitudes toward borrowing did not show any significant effects for race or ethnicity after variables such as knowledge about costs, educational aspirations, achievement, influence from others, and socio-economic status were considered.