The authors gratefully acknowledge the financial support of a student mini-grant from the Research Foundation of SUNY/Buffalo State College, awarded to the second author. The authors also wish to thank the members of the SUNY College at Buffalo Psychology Club research team for their efforts in the collection and entering of data.
Factors Influencing Levels of Credit-Card Debt in College Students1
Article first published online: 31 JUL 2006
Journal of Applied Social Psychology
Volume 33, Issue 5, pages 935–947, May 2003
How to Cite
Norvilitis, J. M., Szablicki, P. B. and Wilson, S. D. (2003), Factors Influencing Levels of Credit-Card Debt in College Students. Journal of Applied Social Psychology, 33: 935–947. doi: 10.1111/j.1559-1816.2003.tb01932.x
- Issue published online: 31 JUL 2006
- Article first published online: 31 JUL 2006
The current study examined the relationship between money attitudes, impulsivity, locus of control, life satisfaction, and stress and credit-card debt in 227 college students. Students reported an average credit-card debt of $ 1,518, with over 75% of students holding at least one credit card. Students with credit cards from on-campus solicitation had higher debt-to-income ratios than did those with credit cards from other sources. Personality variables were generally unrelated to level of debt, although they were related to attitudes toward money. Many students requested information about credit and debt, suggesting that knowledge of financial issues may be an important variable for future consideration.