Student Characteristics Associated With Unmet Financial Needs and Financial Stress

Drawing on the Social Determinants of Health (SDOH) model, the present study identified student characteristics associated with two aspects of financial strain: unmet financial needs and financial stress. Data were from 535 undergraduate and graduate students (70.7% female, 82.4% White non-Hispanic, 80.0% undergraduates, 18.7% first-generation students, M age = 20.70). Students reported if they had past-month unmet financial needs and their financial stress. Sociodemographic characteristics, consistent with the SDOH, were also captured. Approximately, 28.6% of the students had past-month unmet financial needs. Having unmet financial needs was more common for older students, international students, and first-generation students. Financial stress was greater for first-generation students, female students, gender minority students, and employed students. Study findings illustrate that financial strain is common, but not equally distributed, among college students.