DETERMINANTS OF FINANCIAL INCLUSION AMONG EARNING STUDENTS

As young adults enter the local economy, their integration into formal banking systems becomes critical for long-term economic participation. This study investigates the primary determinants of formal financial inclusion among earning college students, specifically isolating the impact of demographic backgrounds versus the core components of financial literacy (Knowledge, Behavior, and Attitude). Utilising a cross-sectional design, data was collected from 150 earning college students in a district of West Bengal. A two-stage hierarchical multiple regression analysis was employed to test the predictive power of these variables. Initial findings indicate that while socioeconomic factors, such as postgraduate standing, higher income brackets, extended earning experience, and enrollment in quantitative academic streams, provide a significant foundational advantage (R2 = .507), traditional gender barriers are effectively neutralized by independent income. Crucially, the introduction of financial literacy components significantly improved the model's explanatory power (∆R2 = .133). The final model revealed that cognitive Financial Knowledge (β = .396, p < .001) is the single strongest predictor of financial inclusion, completely eclipsing Financial Behavior and Financial Attitude. The findings suggest that while earning an income prompts initial banking access, concrete financial knowledge dictates the depth of inclusion. Institutional strategies must pivot from behavioural marketing toward delivering transparent, factual financial education to bridge the inclusion gap, particularly for non-quantitative students.