Doctoral student socialization is the most popular theoretical lens for understanding doctoral education. Socialization perspectives have illuminated the complex processes doctoral students undergo within their doctoral programs. Very little attention has focused on forces external to doctoral education. This study highlighted the ways in which 35 advanced doctoral student’s financial considerations exerts influence on their financial decision-making as they navigate the series of socialization decisions confronting them throughout their doctoral education journey.This dissertation study offers insight into a series of decisions involving financial implications doctoral students make about their education. I utilized rational choice and socialization theory to explore how these decisions made by doctoral students shaped aspects of their educational trajectories. Study participants demonstrated that they conducted cost-benefit analyses about their doctoral program with particular emphasis on activities known to foster socialization. Guided by these theoretical perspectives, participants evaluated financial considerations in decisions concerning: (1) going to graduate school, (2) selecting a graduate program, (3) financing doctoral education, (4) participating in professional aspects of doctoral education, and (5) factoring a doctoral student’s family finances into their decision-making process. Study findings illuminated complex calculations participants evaluated as they navigated their doctoral education. I conclude by offering suggestions for practice, policy, theory and future research on doctoral student financial decision-making and doctoral student socialization.
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