Financial knowledge of credit among college students

Inês Ulrica Araújo Roquette, Raul M. S. Laureano, Maria do Carmo Botelho


Financial markets are becoming increasingly complex and sophisticated and being developed at an impressive speed. It's necessary to have a good level of financial knowledge to be ready for these constant changes. The consumers with larger financial literacy, that is, those with more financial knowledge, but also greater ability to manage it, are the least vulnerable.

In this context, this study evaluates the level of credit knowledge among college students, as well as possible limitations of this knowledge. Through a questionnaire survey to 396 undergraduate students from ISCTE-IUL, the results show that the level of financial knowledge, about credit, is low. Furthermore, the students overestimate their knowledge, i.e., the students think they know more than what actually happens.

Knowledge is explained by the demographic profile of the student, family background and the student culture and financial inclusion. The knowledge is greater on students attending a course in the business area, especiaslly those who are in the 3rd year and consult some information sources regularly. Students who already have bank accounts also have higher average knowledge


Financial literacy, financial knowledge, financial education, credit, college students

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