2015 Conference

Money Perceptions, Money Expectations, Money Worries, Expected salary, Expected Student Loans

Using survey methodology, we examine subjective measures of financial well-being of US students enrolled in college. Specifically, we investigate how college students shape their financial future by looking at worries about money and the level of preparedness for handling finances upon graduation, as well as the interrelation between them. We find that these subjective measures have a strong association with money worries and the perception of post-graduation preparedness to handle financial matters. Students with conservative attitudes towards money and high student loan expectations are more likely to worry about their finances. Students who worry more about money are less likely to feel prepared to handle finances post-graduation while students who expect high salaries and are more conservative in their attitudes towards money are more likely to feel more prepared.