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ERIC Number: ED571943
Record Type: Non-Journal
Publication Date: 2015
Pages: 206
Abstractor: As Provided
ISBN: 978-1-3397-3943-4
ISSN: N/A
Identifying Self-Efficacy and Financial Behaviors as Predictors of Undergraduate College Students' Financial Literacy at a Land Grant University in North Carolina
Hucul, Donna T.
ProQuest LLC, Ed.D. Dissertation, North Carolina State University
Financial literacy has become a serious concern in the wake of the Great Recession of 2008. This study explored the financial literacy of undergraduate college students, who as a group constitute a distinct cohort of learners, emerging adults. The college student population represents a financially at-risk group facing mounting student loan debt. This student loan debt has risen to unprecedented pinnacle exceeding one trillion dollars in aggregate. The current quantitative study identified behavior-based predictors of undergraduate college students' financial literacy and was conducted at a research-extensive land-grant university in North Carolina. In a one of a kind research investigation framed in self-efficacy theory, this study identified the importance of two very important behavior-based predictors of undergraduate college students' financial literacy, self-efficacy and financial behaviors. Three distinct predictive models were created in this study. One model, in which the selection of its predictors was based on existing research investigations, identified six predictors of undergraduate college students' financial literacy including demographics, motivation and specific types of financial behaviors. A second model, whose predictors were based on the current study's exploration uniquely framed in Self-Efficacy Theory, identified ten predictors of undergraduate college students' financial literacy including demographics, self-efficacy and specific types of financial behaviors. A third predictive model's hierarchical presentation based on the current study's three research questions emphasized the impact that the second model's predictors, entered in additive blocks, made on the model's overall effect size, with the self-efficacy predictors contributing the greatest impact. Three main conclusions resulted from this study. First, self-efficacy predictors had the greatest amount of influence on the overall effect size of a model predicting the financial literacy of undergraduate college students. Second, financial behaviors of undergraduate college students were found to be statistically significant predictors of the financial literacy of undergraduate college students. Third, older undergraduate college students and those with a business as primary major in college were more financially literate, while female students were not more financially literate. In general, the current study's findings underscored the importance of student demographics as predictors of undergraduate college students' financial literacy. The current study offers new empirical evidence for consideration and discussion among researchers, financial literacy program practitioners, and policy makers. Recommendations are provided along with implications for research, practice and policy based on the study's key findings. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]
ProQuest LLC. 789 East Eisenhower Parkway, P.O. Box 1346, Ann Arbor, MI 48106. Tel: 800-521-0600; Web site: http://www.proquest.com/en-US/products/dissertations/individuals.shtml
Publication Type: Dissertations/Theses - Doctoral Dissertations
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: North Carolina