The Financial Literacy of Social Work Students

The financial literacy of social work students has become the focus of curriculum development and research, but no study to date has attempted to assess the financial knowledge possessed by social work students. This study addressed that gap by assessing the level of objective financial knowledge reported by social work student respondents (N?=?1,506) to an Internet-based survey. Results indicated that the majority of social work student respondents scored more than 70% correct on a 48-item measure of financial literacy. Multiple regression analysis explained 33.7% of the variance and suggested that the dominant pathway to acquiring objective financial knowledge is through personal experience. Accordingly, financial education programs for social work students may be most appropriate for traditional undergraduates.     

Deficits in young men's knowledge about accessing sexual and reproductive health services

Objective: The current study aimed to examine (1) gender differences in college students' knowledge of sexual and reproductive health care (K-SRHC) service access points, and (2) the relationship between demographic and psychosocial factors and college students' overall K-SRHC service access points. Methods and Participants: Self-report online surveys were administered to 18- and 19-year-old college students from a northern California public university (N = 183; 39.9% men; 32.2% Latino). Results: Women reported higher overall K-SRHC service access point scores than men. Findings indicated that gender and family planning self-efficacy were the strongest correlates of K-SRHC service access points. Men with a regular source of health care had higher K-SRHC service access points than men without. Conclusions: Results suggest that college men need additional education about how to access sexual and reproductive health services to support their own and their partner's health.     

The Price of Opportunity: Race,Student Loan Debt,and College Achievement

This paper examines racial differences in student loan debt and concurrently assesses the potential payoffs and countervailing risks inherent in reliance on loans in a cohort of black and white first‐year college students. Using the 1996–2001 Beginning Postsecondary Student study we find that the use of loans results in greater enrollment persistence and higher odds of college completion, especially for black students. However, black students acquire larger amounts of student loan debt and face a higher risk of default than white students. This is in part due to associated racial differences in family socioeconomic status and type of institution attended. We suggest these findings illuminate the dual‐sided nature of college loans that makes them an imperfect, but overall positive, tool for reducing educational inequality. On the one hand, student loans reduce educational inequality that otherwise results from disadvantaged students' struggles to pay for college and complete college in a timely fashion. At the same time, the degree to which loans reduce racial inequality is diminished by black students' higher loan amounts, the large number of black students who borrow but do not finish college, and the large racial difference in the odds of defaulting on a loan.     

The impact of student loans on college access,completion, and returns

Nearly half of all first‐time undergraduates take a loan to pay for college, and many students will borrow tens of thousands of dollars by the time they leave. Low‐income students and students of color borrow student loans more often and in larger amounts, yet attend less selective institutions, are more likely to drop out with debt. Among students who complete college, those with larger amounts of debt may struggle to pay back their loans or to invest in a house, family, or future education. Researchers are just beginning to untangle how the availability and use of student loans affects college access, educational attainment, and life after college, yet this topic has important implications for economic inequality and social stratification. In this article, we summarize what is known and what remains to be investigated, about the impact of student loan availability and use on college enrollment, degree completion, and postcollege outcomes.     

College knowledge: a critical component of college and career readiness

Policy has traditionally emphasized the completion of academic requirements as the gateway to postsecondary education. There is, however, growing understanding that youth need to develop a wide range of knowledge, skills, abilities, and personal resources for career success, civic engagement, and lifelong learning. It also is necessary to address the social, informational, and financial barriers to college that many first-generation and low-income youth come up against. Allowing youth to participate in programs that provide access to college campuses and classes, through dual or concurrent enrollment, early college models, or expanded learning opportunities, is an effective way to help students gain college knowledge and see themselves as college students. This article offers an expanded definition of college and career readiness and profiles three programs drawn from a larger review of twenty-three programs designed to support college and career success for students from underrepresented groups.     

Perceived Career Barriers and Career Decidedness of First-Generation College Students

We examined the effects of perceived career barriers on career decidedness among first-generation college (FGC) students (n = 149) and non-FGC students (n = 182) at a 4-year university (mean age = 19.3 years). Participants responded online to measures of perceived career barriers and career decidedness. Results indicated that FGC students scored higher on lack of support and lack of time and financial resources than non-FGC students. For both groups, higher levels of perceived lack of skills were related to lower levels of career decidedness, whereas greater levels of family-related responsibilities predicted higher levels of career decidedness. FGC student status moderated the association between perceived lack of time/financial resources and career decidedness. Further research is needed to investigate the differential effects of various domains of career barriers. Career counselors are advised to consider FGC students' perceived career barriers in guiding students' career exploration and decision-making.     

Does Financial Satisfaction Vary Depending on the Funding Strategy Used to Pay for College?

This study sought to determine whether the levels of financial satisfaction reported by college undergraduates and graduates differ in relation to whether they funded their college education by working or borrowing or a combination of the two. Data for this study came from a survey sample of full-time freshmen that formed the basis of a longitudinal study conducted at a large public university. Funding sources examined were grouped into those who worked only, those who borrowed only, those who worked and borrowed, and those who used grants, scholarships, or other sources of money to fund their college education. Compared to those who had student loans, those who had financed college with grants, scholarships, or other money (usually from family and/or friends) were more likely to report greater financial satisfaction than those who had used student loans to pay for college. There was evidence that this was only true during college rather than after college. The results obtained suggest that merely possessing a student loan may not necessarily decrease the level of financial satisfaction as many suspect, especially considering other funding alternatives such as working during college. While there was no significant impact of these funding strategies on financial satisfaction either during or after college, there was evidence for possible thresholds at which overall student loan balances may begin to erode financial satisfaction. The results obtained suggest that student loans may not decrease the level of financial satisfaction as much as many have suspected when compared with working to pay for college, as long as the amount of the student loan is not excessive, and is not accompanied by other types of debt (which also reduced financial satisfaction).

     

The impact of family assets and debt on college graduation

This study examines the influence of family financial assets and debt, both measured during the time of youth's college enrollment, on the chances of college graduation. Data come from the National Longitudinal Survey of Youth. Results from analyses controlling for a number of student, parental, and institutional characteristics indicate that family assets are positively related to the chances of college graduation among White and Black students; family debt is negatively associated with the odds of college graduation among Black students, but neither family assets nor family debt is related to the chances of college graduation among Hispanic students. Overall, results indicate that family assets and debt explain a small portion of racial/ethnic gaps in college graduation. Policy implications are considered.     

Student debt and hardship: Evidence from a large sample of low- and moderate-income households

Student debt has risen in recent years as higher education costs have shifted to students and their families, particularly those with low-to-moderate incomes (LMI). Though a college degree continues to convey higher earnings, those who finance their degrees have lower net worth and greater financial difficulties than persons without student debt. We assess the relationship between student debt and material and health care hardship among a large sample (n = 5558) of LMI tax filers, using propensity score analysis to adjust for self-selection into student debt status and loan amount and monthly payment quartiles. We find that participants with student debt have a higher likelihood of hardship. Loan amounts only partially predict hardship, and borrowers making current loan payments are at lower odds for hardship than non-payers. We also find that among those with student debt, non-payers and those without college degrees have much greater social and economic disadvantages.     

Elementary Preservice Teachers’ and Teacher Educators’ Perceptions of Financial Literacy Education

The authors conducted an online survey of elementary teacher education programs within a large midwestern state to assess preservice teachers’ and teacher educators’ beliefs about and preparedness to teach financial literacy. Very few preservice teachers had meaningful experiences with personal finance in high school, college, or personal decision making. No teacher educators reported ever teaching financial literacy in their higher education roles. Only 13% of teacher educators and 25% of preservice teachers thought that it was very important to teach financial literacy in elementary education. Most teacher education faculty and preservice teachers reported that they were not well qualified to use state economics standards or the JumpStart standards for financial literacy. Preservice teachers were more confident in meeting financial literacy standards than teacher educators. Both preservice teachers and teacher educators expressed openness to collaborating with other faculty members, members of the financial service industry, and parents to teach financial literacy. Follow-up phone interviews affirmed that elementary preservice teachers and teacher educators value social studies education (and financial literacy) less than reading and mathematics education. Qualitative results also suggest that elementary preservice teachers and teacher educators would like more easily accessible resources for teaching financial literacy.     

College Students Define Binge Drinking and Estimate Its Prevalence: Results of a National Survey

Abstract

Data from the 1999 College Alcohol Study were used to examine how students define the term binge drinking, to determine how much binge drinking the students think exists on their campuses, and to analyze how students' estimates compare with aggregated self-reports of student drinking. The findings indicate that the median of the students' definitions of binge drinking is 6 drinks in a row for men and 5 for women, 1 drink higher than the definition used by researchers. Students' definitions of binge drinking vary with their own drinking levels, suggesting that dissenting views of the research definition may represent voices of the heaviest drinkers. At the median, students estimated that 35% of all students were binge drinkers. Half (47%) of the students underestimated the binge drinking rate at their school, 29% over-estimated it, and 13% were accurate. Although programs designed to reduce the frequency or prevalence of binge drinking by emphasizing healthier norms would be most useful in addressing binge drinkers who overestimate drinking norms, this group includes only 13% of college students.     

Keys That Jingle and Fold: Federal Student Aid and the Expansion of Educational Opportunity for Black Women

Since the mid-20th century, the United States has seen a dramatic increase in Black women’s educational attainment. Given Black women’s status as “double minorities” and their disproportionate representation among low-income Americans, this trend has important implications for equal opportunity in the United States. While scholars recognize higher education as a central determinant of socioeconomic well-being and political engagement, we have yet to consider the role that federal higher education policies have played in expanding Black women’s access to college degrees. This article examines the extent to which student aid programs have supported Black women’s educational pursuits and influenced their educational attainment. I find that financial aid usage is associated with greater educational attainment and is perceived by Black women as significantly expanding educational opportunity.     

College Students' Perception of Philip Morris's Tobacco-Related Smoking Prevention and Tobacco-Unrelated Social Responsibility

This study examined the effects of 2 Philip Morris corporate social responsibility (CSR) programs—a tobacco-related smoking prevention versus a tobacco-unrelated program—on college students' perceived CSR motive, attitudes toward Philip Morris, and behavioral intentions to support the company. Using 2 college student samples in the United States and South Korea, this study found that the tobacco-unrelated program and a positively perceived CSR motive elicited more positive responses about CSR values, attitudes toward CSR activities and the company, and behavioral intentions to support Philip Morris. Korean college students were more likely to perceive Philip Morris's CSR activities as mutually beneficial and to support Philip Morris than were American college students.     

Outness among LGBTQ Social Work Students in North America: The Contribution of Environmental Supports and Perceptions of Comfort

This study examines various environmental factors that may impact a lesbian, gay, bisexual, transgender, or queer (LGBTQ) social work student's level of ‘outness’ (disclosure) with regard to their sexual orientation or gender identity. An internet-based survey was conducted, comprised of LGBTQ undergraduate and graduate students from social work programs across North America (n = 1,018). Utilizing Pearson's chi square analysis, significant associations correlated between outness and the following six areas: (1) LGBTQ student perception of other students' overall level of comfort with their sexual orientation or gender identity within the program; (2) the number of faculty that know about their sexual orientation or gender identity; (3) the number of students that know about their sexual orientation or gender identity; (4) how supported they felt with regard to their LGBTQ identity within the program; (5) the percent of faculty that are supportive of LGB and Q issues; and (6) awareness of openly LGBTQ administrators or staff members. Implications for social work education and practice are examined, as are suggestions for continued research.     

Educational background,high school stress,and academic success

This research considers whether students without college-educated parents encounter more stressful life events, and if this exposure influences high school academic success, college matriculation and college degree attainment. Analyses were performed on 7989 students between 1988 and 2000 from NELS:88/2000. Findings suggest that students without college-educated parents encounter more stressful life events. This difference did not account for group differences in outcomes. However, exposure to certain stressors affects high school success over the entire sample. These stressors tend to be beyond student control. In addition, total life events in high school relates to students' ability to finish a college degree over the entire sample. This research extends current knowledge by considering stress' impact on student growth, academic trajectory and retention.     

Sex and Cultural Differences in the Acceptance of Functional Foods: A Comparison of American,Canadian, and French College Students

Objective: Functional foods (FF)—foods containing nutritional supplements in addition to natural nutrients—have an increasing presence in the marketplace. Expanding on previous research, the authors investigated college students' acceptance of FF. Participants: In September-March 2004, 811 undergraduates in Canada, the United States, and France participated in the study. Methods: A self-administered questionnaire measured students' general food attitudes and beliefs as well as FF-related knowledge, attitudes, beliefs, and purchase intention. Results: Overall, participants slightly favored FF over traditional foods. However, although most respondents associated FF with positive health benefits, many remained dubious of currently available FF information. In terms of culture and sex, the authors found small but significant divergences in FF knowledge, attitudes, and behaviors. Conclusions: Stronger labeling and education efforts may increase cross-cultural acceptance of FF by college students.     

Impediments to Health Care for the Foreign Student

Abstract

Today's college students occupy a “window” between older adults, whose need for hepatitis B vaccination is minimal, and younger people who receive the vaccine as part of their childhood immunization series. However, because of the high-risk activities that are often part of student behavior, college students are among the individuals who are at the highest risk for this disease; 75% of all reported hepatitis B cases occur in persons between the ages of 15 and 39 years. It is therefore imperative that college health professionals take seriously their responsibility to educate students about issues related to hepatitis B and make available programs that enable the students to receive immunizations. This article briefly describes a successful hepatitis B education and immunization program at an institution that has no mandatory prematriculation immunization requirements.     

Attitudes Toward Lesbian,Gay, and Bisexual College Students: The Contribution of Pluralistic Ignorance,Dynamic Social Impact,and Contact Theories

Abstract

Social psychology theories may be useful in developing new interventions to reduce prejudice against lesbian, gay, and bisexual (LGB) college students. For this preliminary study, the authors surveyed 109 college dormitory residents to determine their personal comfort with LGB students and their perceptions of other students' comfort with these individuals. They found widespread evidence of pluralistic ignorance—the students rated themselves as significantly less anti-gay than either their friends or the typical student. Students' attitudes showed geographic clustering, with the building of residence a significant predictor of students' attitudes. Finally, consistent with the contact hypothesis, the perception that 1 or 2 LGB students lived on the same floor or in the same building was associated with more positive attitudes.     

Financial Credit: Social Work's Role in Empowering Low-Income Families

Social workers interact with families and communities that financially struggle and have credit challenges. Social workers could benefit from increasing their financial literacy to knowledgeably educate, assist, and refer families in financial need. Specifically, knowledge about credit is imperative in today's economy. This article provides information about financial credit, financial literacy efforts, and the basics about credit, credit reports, and credit scores. Discussion is centered on the roles social workers could play in assisting families to build credit and make sound financial decisions. Areas for policy advocacy about financial literacy and credit are delineated.