How Does Financial Literacy Impact Attitude Toward Student Loan Providers?

We examined whether financial literacy changes college students' assessments of their student-loan providers. As predictors in our backward regression, we included (a) financial literacy, (b) perceived importance of loan, (c) satisfaction with college, (d) financial optimism, (e) experience usi...

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Bibliographic Details
Published in:Services marketing quarterly 2018-07, Vol.39 (3), p.193-207
Main Authors: Zachary Finney, R., Finney, Treena Gillespie
Format: Article
Language:English
Subjects:
college students
credit cards
Financial literacy
financial services
Student loans
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Summary:We examined whether financial literacy changes college students' assessments of their student-loan providers. As predictors in our backward regression, we included (a) financial literacy, (b) perceived importance of loan, (c) satisfaction with college, (d) financial optimism, (e) experience using credit cards, and (f) perceived importance of decisions about credit cards. We also included two-way interactions between financial literacy and the other variables. Our regression explained about 24% of the variance in the dependent variable. Our results indicated that financial literacy was a significant predictor of attitude toward the student loan provider-but only in the interaction terms.
ISSN:1533-2969
1533-2977
DOI:10.1080/15332969.2018.1471955