University of Illinois Urbana-Champaign

Credit Card Use Among Undergraduate College Students

Anonymous

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https://hdl.handle.net/2142/101434

Description

Title
Credit Card Use Among Undergraduate College Students
Author(s)
Anonymous
Contributor(s)
Arends-Kuenning, Mary
Issue Date
2018-09-20
Keyword(s)
  • credit cards
  • student debt
  • financial literacy
  • personal finance
Geographic Coverage
Illinois
Abstract
Researching individual characteristics of students that indicate successful personal finance skills led our research team to learn about undergraduate college student use of credit cards at the University of Illinois at Urbana-Champaign. We set out to find answers to our initial hypothesis and our research lead us to interview a university official in charge of a student financial wellness program, conduct two focus groups, and sent out a survey to random sample of the undergraduate population. Our hypothesis predicted that students who have finance related majors, personal interest in financial matters, or parental guidance were more likely to utilize credit cards appropriately compared to other students. Some obvious correlations helped us identify student major, year in school, financial guidance, and budgeting skills to indicate financially stable students. We then took these results and compared them to students with credit cards and without credit cards to find a relationship among the various characteristics. We used the results from our paper to suggest several solutions to the University of Illinois to better market their financial wellness programs to students and improve financial awareness across campus.
Series/Report Name or Number
ACE 471/FALL/2017
Type of Resource
text
Language
en
Permalink
http://hdl.handle.net/2142/101434

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