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Study Shows Students' Finances, Well-Being Looking Better
The third snapshot in a longitudinal study of University of Arizona students has produced some surprising insights on their personal and financial well-being.
Although the study shows some mixed results, after four years of economic turmoil, for many of these young people the future is starting to become a little clearer and, perhaps, brighter.
And the data that's been collected ultimately should prove useful in planning ahead, both for future students and their families, and for college administrators.
The APLUS study started tracking a cohort of just more than 2,000 students who began at the UA in 2007. The study evolved out of questions about how students were dealing with credit card debt and how those behaviors developed. It is the first study of its kind, looking at how financial behaviors form and then change over time in the same group of people.
"This study isn't just about money; it's about life. It's about the process by which our students transition into young adults and how their financial habits that they develop during this transitional period influence their life success, including academic success, psychological and physical well-being, as well as relationships well-being," said Soyeon Shim, director of the Norton School of Family and Consumer Sciences and co-principal investigator for the APLUS.
"APLUS is an outstanding example of translational research in that we put our research findings into creating best practice for parenting, college education and financial education."
Contact name:Joyce Serido
Released date:Mar 18 2011