Financial Behavior and Problems Among University Students: Need for Financial Education

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  • Masud Jariah
  • A. R. Husniyah
  • P. Laily
  • Sonya Britt

Published 2004, "Financial Behavior and Problems Among University Students: Need for Financial Education", Journal of Personal Finance, 2004- Volume 3


  • Many students rely on loans to get them through college. Yet, sometimes students borrow too much money while in school. Excess loan money leads to debt that students must pay back after graduation delaying other financial goals. With the proper educational support about living independently, students can reduce their chance of obtaining unnecessary debt from educational loans. Young adults generally learn their skills from parents and teachers as children. However, parents often overlook teaching financial skills, such as budgeting and investing, while their children are still living at home. Instead, children are forced to learn how to handle their money when entering college and sometimes they make mistakes that will cost them several years of repayment of loans. This study examines what kinds of financial problems students face. By knowing what problems students encounter, it is possible for educators to offer a course that teaches the financial skills necessary to overcome these problems. The participants were asked to indicate what financial education they would be interested in if offered. Nearly all of the students expressed an interest in learning about financial management.