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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

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