Tuesday, March 05, 2013

Student Survey on Financial Literacy Shows Early Debt Correlates with Risky Behavior

About the Report:

Money Matters on Campus is a new report detailing the findings from a survey of 40,000 first-year college students from across the U.S. and demonstrating to colleges and universities how student financial problems not only impact individual student outcomes but also the institutional mission.

 The study—conducted by EverFi and sponsored by Higher One—surveyed students on banking, savings, credit cards and school loans. The majority of participants (91.2 percent) were first-year college students (mean age = 18.2 years). One of the many survey findings revealed a strong correlation between incurring early debt and not being affiliated with a banking institution. Further, an increased risk of negative financially related outcomes, as students and later in life, was correlated with current risky financial attitudes/behaviors.
Download pdf Report: Money Matters on Campus

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