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Financial Stress, Coping Strategy, and Academic Achievement of College Students

Financial Stress, Coping Strategy, and Academic Achievement of College Students <p>The impact of financial stress on college students can range from psychological distress to adverse academic outcomes. The purpose of this study was to identify how resources and perceptions alter the amount of financial stress felt by college students and how this relates to academic achievement. Results from 2,236 Midwestern college students indicate that financial and life stressors, higher subjective financial knowledge, fewer financial resources, negative perceptions, and lower mastery are associated with higher financial stress. Financial stress was not associated with academic achievement, but financial stressors, objective financial knowledge, and financial resources were highly related to financial stress. Increasing available financial resources to students, in addition to providing opportunities to increase financial knowledge for students, would likely be associated with decreased stress and better academic achievement.</p> http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Counseling and Planning Springer Publishing

Financial Stress, Coping Strategy, and Academic Achievement of College Students

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Publisher
Springer Publishing
ISSN
1052-3073
eISSN
1947-7910
DOI
10.1891/1052-3073.27.2.172
Publisher site
See Article on Publisher Site

Abstract

<p>The impact of financial stress on college students can range from psychological distress to adverse academic outcomes. The purpose of this study was to identify how resources and perceptions alter the amount of financial stress felt by college students and how this relates to academic achievement. Results from 2,236 Midwestern college students indicate that financial and life stressors, higher subjective financial knowledge, fewer financial resources, negative perceptions, and lower mastery are associated with higher financial stress. Financial stress was not associated with academic achievement, but financial stressors, objective financial knowledge, and financial resources were highly related to financial stress. Increasing available financial resources to students, in addition to providing opportunities to increase financial knowledge for students, would likely be associated with decreased stress and better academic achievement.</p>

Journal

Journal of Financial Counseling and PlanningSpringer Publishing

Published: Jan 1, 2016

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