Table 4. Exploratory study on discrete variables.
| Loan reimbursed (%) | ||||
|---|---|---|---|---|
| Predictors | Yes | No | % (N) | Chi2, sig |
| Grade | ||||
| A | 94.4 | 5.6 | 32.3 (7,901) | 342.041*** |
| B | 89.7 | 10.3 | 31.7 (7,757) | 4.266** |
| C | 85.5 | 14.5 | 20.2 (4,927) | 82.658*** |
| D | 82.8 | 17.2 | 11.6 (2,826) | 130.255*** |
| E | 80.3 | 19.7 | 3.2 (785) | 65.250*** |
| F | 74.7 | 25.3 | 0.8 (198) | 42.300*** |
| G | 61.8 | 38.2 | 0.2 (55) | 42.218*** |
| Loan purpose | ||||
| Wedding | 92.8 | 7.2 | 2.5 (595) | 8.551*** |
| Credit card | 92.4 | 7.6 | 13.0 (3,064) | 38.988*** |
| Car loan | 92.1 | 7.9 | 3.5 (831) | 7.843*** |
| Major purchase | 91.6 | 8.4 | 6,5 (1,518) | 10.863*** |
| Home improvement | 90.7 | 9.3 | 7.4 (1,751) | 5.399** |
| Debt consolidation | 89.0 | 11.0 | 44.6 (10,499) | 0.286 |
| House | 88.4 | 11.6 | 0.9 (215) | 0.112 |
| Vacation | 88.3 | 11.7 | 1.1 (264) | 0.187 |
| Other | 87.6 | 12.4 | 11.1 (2614) | 6.940*** |
| Medical | 85.7 | 14.3 | 1.8 (420) | 4.987** |
| Moving | 85.2 | 14.8 | 1.7 (399) | 6.247** |
| Renewable energy | 85.2 | 14.8 | 0.3 (61) | 0.925 |
| Educational | 83.6 | 16.4 | 1.2 (287) | 8.900*** |
| Small business | 78.1 | 21.9 | 4.3 (1,012) | 132.010*** |
| Housing situation | ||||
| Mortgage | 90.1 | 9.9 | 41.4 (10,121) | 16.881*** |
| Own | 89.2 | 10.8 | 7.9 (1,940) | 0.014 |
| Rent | 88.3 | 11.7 | 50.3 (12,290) | 14.835*** |
| Other | 82.5 | 17.5 | 0.4 (97) | 4.395** |
Number of loans analyzed: 24,449. Defaulted: 2,666 (10.9%). Non-defaulted: 21,783 (89.1%).
*** significant at the 1% level
** significant at 5% the level.