HOPE or No-HOPE: Merit-Based College Scholarship Status and Financial Behaviors Among College Students

8 Pages Posted: 4 Mar 2013

See all articles by Joseph W. Goetz

Joseph W. Goetz

University of Georgia

Yoko Mimura

California State University, Northridge - Department of Family and Consumer Sciences

Miti Desai

Department of Housing & Consumer Economics

Brenda J. Cude

University of Georgia Department of Financial Planning, Housing and Consumer Economics

Date Written: 2008

Abstract

The current study explored differences in financial behaviors between college students in Georgia who retained the merit-based HOPE Scholarship and those who lost it. Logistic regression was used to analyze data from a sample of 557 undergraduate students from a large southeastern university. Students who initially had HOPE Scholarships but lost them were less likely to have used recommended financial management practices and had higher credit card as well as student loan debt than students who retained HOPE Scholarships. The results suggest that students who had lost the HOPE Scholarship may be more financially vulnerable than initially expected, particularly given their higher levels of debt and maladaptive financial management practices.

Keywords: college students, financial behavior, financial management

Suggested Citation

Goetz, Joseph W. and Mimura, Yoko and Desai, Miti and Cude, Brenda J., HOPE or No-HOPE: Merit-Based College Scholarship Status and Financial Behaviors Among College Students (2008). Journal of Financial Counseling and Planning, Vol. 19, No. 1, 2008. Available at SSRN: https://ssrn.com/abstract=2228195

Joseph W. Goetz (Contact Author)

University of Georgia ( email )

Athens, GA 30602-6254
United States

Yoko Mimura

California State University, Northridge - Department of Family and Consumer Sciences ( email )

18111 Nordhoff Street
Northridge, CA 91330-8308
United States

Miti Desai

Department of Housing & Consumer Economics ( email )

Athens, GA 30602-6254
United States

Brenda J. Cude

University of Georgia Department of Financial Planning, Housing and Consumer Economics ( email )

Athens, GA 30602-3622
United States

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