Beyond Financial Need: Predictors of Student Loans and Student Loan Attitudes

Although public concern about student loan debt has been increasing, little research has examined predictors of debt beyond financial need or demographic factors. The present study explored the role of several psychological and attitudinal variables in student loan debt among 189 college students. Results indicate that loan initiative and loan resignation attitudes predicted level of student loan debt. In addition, locus of control, delay of gratification, and social comparison are also related to loans and loan attitudes. Parental instruction marginally predicted loan attitudes, but not loan totals. Overall, these results suggest the need to consider non-need based factors when counseling students about accepting loans

Psychological and Environmental Correlates of Well-being Among Undergraduate University Students

This study explored whether the university environment provides similar well-being enhancing elements to those that have been found in the workplace and school contexts. Whether psychological inflexibility accounts for well-being over and above personality and environmental influences was also explored. A representative sample of 163 undergraduate university students in an Australian university completed an online survey measuring the key constructs. Environmental influences assessed included financial resources, physical security, opportunity to use new skills, externally generated goals, variety, environmental clarity, interpersonal contact, and valued social position. Hierarchical multiple linear regression analyses were then conducted to test for predictors of three domains of subjective well-being: positive affect, negative affect, and life satisfaction. The results suggested that university context contributes significantly to undergraduate students’ well-being by providing a valued social role, externally generated goals, and variety. Students’ perception of their physical security was also an important influence on their well-being. These results are consistent with the literature on well-being and employment. Neuroticism significantly predicted negative affect, while psychological inflexibility accounted for unique variance in life satisfaction and negative affect even when personality and environmental influences were taken into account. The implications of these findings for enhancing undergraduate university students’ well-being are discussed

S1.3 Jill Norvilitis & Gail Daniels... On Human Trafficking

This episode of the Family and Community Focus Show focuses on some of the issues regarding human trafficking and the impact of social media on children and teens

Understanding credit card payment behavior among college students

College students remain a lucrative target market for credit card companies even after the advent of the Credit Card Act of 2009. Unfortunately, many students are not prepared to use credit responsibly or make payments in a timely manner. Numerous studies reveal risky student credit behaviors, lack of credit knowledge or irresponsible management of credit. However, there remains a need for more information on college students\u27 payment behaviors. This paper aims to explain credit card payment behavior among college students by segmenting college students into payment behavior groupings. Using an online survey, students provided their credit card payment activity and demographic characteristics. The results of this study shed light on different credit card payment behaviors by segmenting college students into four behavioral segments based on useful characteristics. Clear distinctions exist between segments who behave in responsible ways versus those who do not practice responsible behaviors. These segmentation results add to the understanding of Lyons (2004; Journal of Consumer Affairs 38 (1): 56-80) who determined a means of identifying Financially at Risk students (FAR) with payment behavior. Given potentially dangerous effects of targeted credit card marketing to college students, findings about payment behavior of college students will help policymakers, credit card companies and college administrators

Behavioral finance: advances in the last decade

As recently as three decades ago, human factors were rarely considered in theoretical and empirical research in finance (Miller, 1986). However, this has gradually changed, especially after the internet bubble at the beginning of the twenty-first century. As part of this new understanding of the importance of human factors, a new field of knowledge has gained prominence: Behavioral Finance, which uses ideas derived from psychology, many of which draw upon the seminal work of Daniel Kahneman, winner of the Nobel Prize in 2002. Behavioral Finance is a growing approach that sparks fertile and innovative field research in finance, with potential for development of new management tools, whether in the area of corporate finance or investments. Since the work of Kahneman (2002), the behavioral approach has provided results that are relevant for assessing the quality of executive decisions (Campelo, 2012, p. 881). In the area of asset pricing, in the last decade, for example, researchers have tried to discover and interpret anomalies in stock returns, such as reactions to news and extreme events (Bange & Miller, 2004; Hwang & Salmon, 2004). Thus, in April 2012, the Observatório da Inovação Financeira, a nucleus research of the Escola de Administração de Empresas de São Paulo, Fundação Getulio Vargas (FGV/EAESP), in partnership with researchers working in Brazil, the United States and Europe, and with the support of the Editorial Board of the RAE-Revista de Administração de Empresas, issued a call for papers devoted to modern issues in Behavioral Finance. From the methodological point of view, we understand that Behavioral Finance works on three levels: i) experiments with subjects under controlled laboratory conditions; ii) study of financial decisions in the real world, with applications in personal, family, professional and corporate spheres; and iii) the behavior of financial markets. The papers selected for this special issue of RAE cover topics that address all three levels of studies in Behavioral Finance. We received 25 submissions, four were selected. We thank all authors and reviewers, as well as the Editorial Team of the RAE, especially the editor-in-chief Eduardo Diniz, and Eduarda Pereira (Editorial Assistant) for the attention with which they treated the work and the whole manuscript evaluation and improvement process. We are extremely grateful to Professor Hersh Shefrin (University of Santa Clara), who presented his overview of the contemporary literature on Behavioral Finance. We also thank the authors of the book review and recommendations, which complete this special issue.COMPETE; QREN; FEDE

College students and credit card companies: Implications of attitudes

More knowledge and understanding is needed regarding the mechanisms influencing college student attitudes toward credit card companies and the behavior that students exhibit using credit cards. Prior literature in the area has been sparse. The current article is an attempt to fill the gap in existing literature. Using survey data, we try to find the determinants of college student attitude toward credit card companies and the responsible use of credit cards. Our findings indicate that a strong positive link exists between student attitude toward credit card companies and responsible credit behavior. Two distinct groups of students are identified - one with a positive attitude toward credit card companies and positive credit use behaviors; the other with the opposing attitude and behavior. Reward cards, payment behavior, number of credit cards, modes of acquisition, awareness about credit card policies, purpose for using credit cards, impulsiveness and certain student characteristics are all indicated as variables that help discriminate between the two different student groups. Our findings have implications for both higher education institutions and credit card firms