Office of Student Life: Creating the Extraordinary Student Experience



The purpose of the Study on Collegiate Financial Wellness (SCFW), previously known as the National Student Financial Wellness Study, is to gain a more thorough and accurate picture of the financial wellness of students throughout the United States.

The study is driven by the following research questions:

  1. How are financial attitudes (including stress), financial behavior, and financial knowledge related to academic success, decisions to borrow, and career selection?
  2. How is student loan debt related to the issues of student financial stress, enrollment success, decisions to borrow, career selection, investment in education?
  3. What factors (e.g. self-efficacy, financial knowledge, ability to repay, financial behaviors, family socioeconomic status, seeking financial advice) moderate the relationships outlined in questions 2 and 3?

The study includes questions on each of the following key concepts:

  • Financial Education
  • Financial Management Behaviors
  • Financial Self-Efficacy 
  • Financial Socialization
  • Financial Stress & Strain
  • Financial Optimism
  • Paying for College
  • Student Loans
  • Consumer Debt
  • Debt-Related Stress
  • Financial Knowledge
  • Academic Information 
  • Demographic Information

The study will enable participating institutions to better understand the needs of their current student bodies and how they compare to others. This data will inform how we can improve our services to help students succeed based on: spending habits and attitudes, financial management, student loan debt, debt perception, credit card debt and usage patterns, stress level related to finance, employment and academic progress.