College Credit
Card Debt
Executive Summary
Our group researched on student’s credit card spending. We
have discussed in our research the relationship between students
at Cal-State San Marcos and their credit card debt in respect to
their grade level, gender, card payments, living status and financial
assistance.
We have used stratified sampling for our survey. We surveyed 95
students from different areas of the campus (The Dome, ACD Building,
UH building and the Craven Hall). Our survey consisted of 21 questions
that pertain to how many credit cards students own, the total amount
they owe, their living status, the student’s educational status
if they are full time or part time students, their grade level and
gender.
According to our findings we have found that there’s no
relation between age and the usage of credit card. It doesn’t
follow that the older we get the smarter we become on our credit
card spending because our research showed that the student who owes
more are senior students. Our research found out too that it’s
not the female who owes more but the male which is contrary to what
everyone expected. We found that students spend their credit cards
more on emergencies. The average amount that student males owe is
about $1,425 and the average amount females owe is about $1,307.
Thirty eight percent of the total students we surveyed meet the
minimum of their payments while 55% meet their credit payment by
paying it all off. Students who live with their parents owe an average
of $1090 while students who own a home owe an average of $1696 and
students who rent owe an average of $1540. Our research has found
out that on average students who don’t receive parental support
owes more on average they owe $1478.43 and students who receive
support from their parents owe on average about $1265.11. On the
other hand our research showed that students who receive grants,
scholarships, and are employed owe more than students who don’t.
On average students who have grants owe $1539.74 while those who
don’t owe $1268.18. Students with scholarship owe on average
about $2000 and those who don’t’ owe about $1298.76.
And the students who are employed owe on average about $1406 and
those who are not employed owe on average about $ 1281.58.
From what we have discovered in our research we recommend that
as a student it’s not really advisable to own a lot of credit
cards. We should only live within our means so that we will not
be lured into so many debts. We should try to use our debit cards
instead and save money. Credit cards are not bad, only when used
appropriately and moderately. Because using it much won’t
help us. We should also be aware of the interest rates that these
credit card companies offer us so that we would not lose much on
the interest. It won’t be well enough to pay only the interest
every month. And one good advice is to pay our debt before the grace
period end so that we will not pay interest at all.
1
> College Student Credit Card Debt - Executive Summary
2
> College Student Credit Card Debt - Introduction
3
> College Student Credit Card Debt - Methodology
4
> College Student Credit Card Debt - Amount Owed by Grade
5
> College Student Credit Card Debt - Purposes for Credit Card
Usage
6
> College Student Credit Card Debt - Amount Owed by Grade Percentages
7
> College Student Credit Card Debt - Financial Assistance
8
> College Student Credit Card Debt - Male vs. Female
9
> College Student Credit Card Debt - Male vs. Female Purposes
10
> College Student Credit Card Debt - Best Predictors for Amount
Owed
11
> College Student Credit Card Debt - Pay in Full or Pay Minimum
12
> College Student Credit Card Debt - Living Status Correlation
13
> College Student Credit Card Debt - References
Related
Earl
Warren
Eight Parts of Speech
Euthanasia
Exemplification Essay
Professional
Organizations in San Diego
Windows
Boot Up Screen
Topics
Tech
Business Computer
Engineering Electrical
Engineering Selected
Topics |