Abstract

http://ssrn.com/abstract=2430795
 


 



Financial Literacy and the College Student


Kerry M. Tew


Arkansas State University

Philip L. Tew


Arkansas State University

April 29, 2014


Abstract:     
A multi-school, multi-state survey of 513 students is utilized to determine the financial literacy of college students as it relates to their own financial situation. We find that over one fourth of college students are not participants in the financial system, over one third do not know how much credit card or student loan debt that they currently owe, and they overestimate their future earnings by more than 20%. We do find that these troubling statistics are lowered when the students receive their financial information from college personnel rather than high school personnel and family and friends. Our findings illustrate the importance of financial literacy training for all college students.

Number of Pages in PDF File: 22

Keywords: financial literacy, student loan debt, credit card debt, college students

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Date posted: April 30, 2014  

Suggested Citation

Tew, Kerry M. and Tew, Philip L., Financial Literacy and the College Student (April 29, 2014). Available at SSRN: http://ssrn.com/abstract=2430795 or http://dx.doi.org/10.2139/ssrn.2430795

Contact Information

Kerry M. Tew
Arkansas State University ( email )
2713 Pawnee
P.O. Box 1750
Jonesboro, AR 72467-115
United States
Philip L. Tew (Contact Author)
Arkansas State University ( email )
2713 Pawnee
P.O. Box 1750
Jonesboro, AR 72467-115
United States
870-972-3742 (Phone)
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