Student Loans, Budgeting, and Credit: What College Students Need From Peer Financial Wellness Mentors

• In Event: AERA Roundtable Session Wednesday 9:00 am Four Seasons Ballroom 2-3
  In Roundtable Session: Cultural Communication Strategies in College Contexts (Table 13)

Abstract

This study engaged with 54 collegiate peer financial mentors across seven institutions of higher education to explore what financial topics college students struggle with and request mentoring for. This study employs a qualitative approach using focus group data collection techniques (Saldaña & Omasta, 2022). Three core themes emerged from the data related to financial topics that college students seek financial mentoring for: 1.) Understanding student loans, 2.) Learning to budget, and 3.) Learning about credit, including how to build credit, manage credit card debt, and use credit cards. However, peer financial wellness mentors often experienced challenges when providing peers with financial information, as peer financial wellness mentors were cautioned by supervisors to avoid discussing financial aid and investment strategies.

Author

• Zach Taylor, John Burton Advocates for Youth