No significant differences in gender were found in current debt level, overall current financial situation and attitude toward their financial management skills. The implication this study for educators is to develop programs for women focusing on spending behavior and its consequences. This research suggests that buying behaviors are not necessarily due to just to economic status, but they also reflect social psychological issues. This valuable study indicate that educational programming focusing on specific aspects of savings, debt management, and planning for long-term goals will be out more benefit for targeted audiences. More than 30 billion dollars in loans are currently being distributed annually.
Most students attend college with no intention to accrue debt.
However, as they continue their education they find it easier and more convenient to accumulate debt than to adjust their attitudes and spending behaviors. This increasing pro debt attitude among college students does not bode well for the future of the economic well being of families in America. If the student reported a student loan they felt that their financial security was lessened by that loan. Using aquestionnaire developed by a partnership between the Consumer Federation of America and American Express, the students had an overall correct score of 39 percent as opposed to the national average of 42 percent. Their lowest scores were on questions related to automobile ownership, car insurance, car purchases, and food purchases.