College student performance and credit card usage

Journal of College Student Development, Jan/Feb 2001 by Pinto, Mary Beth, Parente, Diane H, Palmer, Todd Starr

Other future research could be drawn from the literature concerning the financial literacy of Generation Y and consumer socialization. What impact does knowledge and perceived knowledge of credit concepts (APR, teaser rates, etc.) have on student credit card use? What role does explicitly taught parental values have on usage? What is the impact of modeling on credit card usage?

The list of factors that can potentially affect college student performance is long and varied. Academics and practitioners in the field of higher education have worked at length to identify these factors and, where possible, establish policies and procedures designed to mitigate their effect. Although becoming more pronounced on college campuses in recent years, one issue that has not been adequately addressed is the impact that credit card usage and student spending patterns can have on their scholastic performance. Our findings demonstrated some interesting relationships between credit card usage, employment, and the psychological effects that excessive credit card debt could have. As campus administrators continue to examine the relatively new phenomenon of student access to credit cards and consumer debt, a number of alternatives and proposed remedies are likely to emerge. Care needs to be taken to consider how best to address this artifact of our consumer-oriented society in relation to the effects it can have in the classroom.

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