Sallie Mae and Ipsos Public Affairs: How American College Students Manage Their Finances

Thursday, March 10, 2016

Washington, DC - On March 10, 2016, Sallie Mae and Ipsos Public Affairs published the first report in a new study, Majoring in Money: How American College Students Manage Their Finances adding to the current annual studies How America Pays for College and How America Saves for College.

“Majoring in Money” reports the results of online interviews of 800 college students between the ages of 18 and 24. The report finds college students have adopted behaviors that promote sound credit management:

  • More than three fourths (77 percent) pay their bills on time.
  • Six in ten (60 percent) never spend more money than they have available.
  • More than half (55 percent) save at least some money every month.
  • One in four (24 percent) has an emergency fund.

In addition, most college students are using credit cards responsibly:

  • While most make purchases with debit cards (85 percent), cash (86 percent), and mobile payments (77 percent), more than half (56 percent) have a credit card.
  • Six in 10 (59 percent) report their primary reason for getting a credit card is to build a credit history.
  • Nearly two-thirds (63 percent) pay the full balance duel each month.
  • Nearly three-fourths (73 percent) pay the bill themselves.
  • Seven in 10 (69 percent) report an average monthly balance of $500 or less.

Click here to read the full report.

For more information on this news release please contact:

Julia Clark
Senior Vice President
Ipsos Public Affairs
312.526.4919
julia.clark@ipsos.com

Jennifer Berg
Account Manager
Ipsos Public Affairs
312.526.4224
jennifer.berg@ipsos.com

About Ipsos Public Affairs

Ipsos Public Affairs is a non-partisan, objective, survey-based research practice made up of seasoned professionals. We conduct strategic research initiatives for a diverse number of American and international organizations, based not only on public opinion research, but elite stakeholder, corporate, and media opinion research.

Ipsos has media partnerships with the most prestigious news organizations around the world. In Canada, the U.S., UK, and internationally, Ipsos Public Affairs is the media polling supplier to Reuters News, the world's leading source of intelligent information for businesses and professionals. Ipsos Public Affairs is a member of the Ipsos Group, a leading global survey-based market research company. We provide boutique-style customer service and work closely with our clients, while also undertaking global research.

To learn more visit: www.ipsos- na.com

About Ipsos

Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. Ipsos ranks third in the global research industry.

With offices in 87 countries, Ipsos delivers insightful expertise across five research specializations: brand, advertising and media, customer loyalty, marketing, public affairs research, and survey management.

Ipsos researchers assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media and they measure public opinion around the globe.

Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of €1,669.5 ($2,218.4 million) in 2014.

Visit www.ipsos.com to learn more about Ipsos’ offerings and capabilities.


Sallie Mae and Ipsos Public Affairs: How American College Students Manage Their Finances

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Report

Infographic

Contact

Julia Clark
Senior Vice President, US
Ipsos Public Affairs
+1.312.526.4919
julia.clark@ipsos.com