College Student Financial Wellness: Student Loans and Beyond

Montalto, Catherine P.; Phillips, Erica; McDaniel, Anne; Baker, Amanda R.

doi:10.1007/s10834-018-9593-4

Cited by 74 publications

(54 citation statements)

References 59 publications

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“…Earlier student loan debts are negatively associated with health status among Hispanic students (Kim and Chatterjee, 2019). Researchers have called for higher education institutions to better understand the needs of college students and effectively plan and implement financial wellness initiatives on campus (Montalto et al ., 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

Financial capability of student loan holders who are college students, graduates, or dropouts

Xiao

Porto

Mason

2020

Journal of Consumer Affairs

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Effective consumer financial education provides relevant information to meet special needs of targeted audiences. The purpose of this study is to examine differences in financial capability among student loan holders who are college students, graduates, and dropouts. Using data from the 2015 U.S. National Financial Capability Study, the results show that student loan holders who have completed their education program have higher scores in all financial capability indicators than college students and dropouts. Further analyses show differences in specific financial knowledge items among college students, graduates, and dropouts. In addition, college graduates are more likely to perform several specific desirable financial behaviors than college students and dropouts. The findings suggest that financial educators should emphasize action taking when they provide financial education for student loan holders who are college students and dropouts.

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Section: Literature Reviewmentioning

confidence: 99%

Financial capability of student loan holders who are college students, graduates, or dropouts

Xiao

Porto

Mason

2020

Journal of Consumer Affairs

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“…There is also a substantial body of research that has considered student financial wellness during the study (Montalto et al 2019). A particular concern is that to meet rising costs of living and to minimise debt, some students are taking on high levels of employment during the academic year.…”

Section: Economic Wellbeingmentioning

confidence: 99%

Student debt and wellbeing: a research agenda

Nissen

Hayward

McManus

2019

Kōtuitui: New Zealand Journal of Social Sciences Online

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With levels of student debt unprecedented and rising in many democracies, growing attention has been given by academics and practitioners to its possible effects for student wellbeing. This article makes three contributions to this debate. First, it offers a critical review of literature that considers the relationship of student debt and wellbeing to open up discussion about the dimensions, limitations and possibilities of the field. Second, the paper points to potential avenues for future research about student debt and wellbeing by considering indicative comments made by New Zealand university students as part of a series of indepth interviews. Third, the article makes a practical contribution to current debates about the tuition 'fees free' policy in New Zealand. We argue that developing a more robust understanding of how student debt affects wellbeing may help to broaden and reinvigorate academic and public debate about student debt.

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“…A subgroup of Family Resource Management (FRM) professionals at large, public land-grant universities identified student loan debt as a national issue, specifically, repaying student loans. Student loan debt has become a financial and psychological burden for many young adults (Montalto, Phillips, McDaniel, & Baker, 2019;Zhang & Kim, 2019). When it comes to repayment, evidence strongly suggests that students are confused both about their borrowing practices and their options for repayment (Shim, Serido & Lee, 2018;Whitsett & O'Sullivan, 2012).…”

mentioning

confidence: 99%

Launching a Text Message Intervention to Assist Student Loan Borrowers with Repayment Decisions

Johnson

Bartholomae

Serido

et al. 2020

Family & Consum Sci Res J

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Student loan debt has become a financial burden for many young adults in the United States. Previous research has found that many college student borrowers do not understand repayment terms and options. This multistate collaboration among Cooperative Extension Specialists sought to develop a way of supporting and informing recent college graduates on the process of student loan repayment. Text messaging was used as the intervention strategy. The purpose of this article is (i) to explain the process and methods of developing the student loan repayment text messaging campaign and (ii) present suggestions for someone interested in launching this type of intervention. Also, the article provides initial participation numbers across the nine land‐grant universities that were participants in the intervention.

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College Student Financial Wellness: Student Loans and Beyond

Cited by 74 publications

References 59 publications

Financial capability of student loan holders who are college students, graduates, or dropouts

Financial capability of student loan holders who are college students, graduates, or dropouts

Student debt and wellbeing: a research agenda

Launching a Text Message Intervention to Assist Student Loan Borrowers with Repayment Decisions

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