Using a random sample of college students, this study identifies the factors that significantly affect the probability a college student is financially at risk for mismanaging/misusing credit. Financially at-risk students are more likely to be financially independent, to receive need-based financial aid, to hold $1000 or more in other debt, and to have acquired their credit card(s) by mail, at a retail store, and/or at a campus table. Students having difficulty making credit card payments are also more likely to be female, black, and/or Hispanic. Campus administrators and financial professionals can use this information to better allocate their resources and develop materials that specifically target those students who need them most.
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