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Article: Money, money, money: an exploratory study on the financial literacy of Black college students.
- Article from:
- College Student Journal
- Article date:
- September 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Project Innovation (Alabama). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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This exploratory research examined 277 survey responses to assess the influence of race, gender, age, major and parental educational level on the financial knowledge of undergraduate students attending a predominantly Black institution. The overall level of financial literacy was only about 3 correct questions out of 10. Analysis of variance results showed valuable differences in the mean financial literacy scores for all variables, except race. The logistic regression had somewhat different results; race, major, and parental educational level were important factors in explaining whether students would have higher or lower levels of financial acumen. Age and major did not ...