The main part of the research for this project will be compiled from a survey of students at the university, financial statistics from previous university students, and research on financial practices. Over the course of the project, the survey will be collected first.
Personal data will be collected from the surveyor first with questions regarding their year in school, gender, dining plan, and amount of BuckID cash and dining dollars in their account. The next questions include ones focused on their school account, financial proficiency, and opinion on the upcoming election:
- Did you know that the amounts roll over into the next semesters?
- Did you spread out your BuckID and dining dollar credit throughout the semester?
- Do you use BuckID cash on off-campus locations where its accepted or do you still use your own money?
- Do you plan to pursue Graduate/Professional school after graduation?
- Did you take any financial wellness/spending programs in high school that taught you about balancing your budget?
- Have you spoken with a financial wellness coach at the university?
- How do you keep track of your spending?
- Do you plan to create a budget once you have monthly rent and grocery expenses to take care of?
- Are you working this semester?
- Rate your proficiency in financial literacy: (Budgeting, tax planning, interest rates, etc.) 1-5
- Rate the importance of financial proficiency when living independently: 1-5
- How much do you take part in when it comes to figuring out your FAFSA and filling out your payment information for each semester?
- Select the options that you own: (They have been taken out in your own name, not your parents) (Leave blank if none apply)
- Select the payments that you make: (Leave blank if none apply)
- Do you believe students could benefit from a required financial class, dealing with loan repayment, interest rates, paying taxes, etc.?
- Would you say that a candidate’s policy on the Student Debt Crisis is a factor you look for when choosing your 2020 election candidate?
The survey’s information will be used to collect firsthand data on students currently in college. The data and spending of BuckID cash and dining dollars will help reflect the student’s spending habits in order to gain insight on their habits regarding paying back their debt in the future. The data can be converted into graphs using excel in order to display the data for the people to see.
The next part of the process includes researching and pulling data from online resources about the average financial aid students require for the university along with the costs of attending. The purpose of this is to see how much students are borrowing, and the average price students have to pay after graduation.
After collecting the surveys and data on financial need, the last part of research will focus on normal patterns in student’s financial health, and plans that students can take to plan in advance for repaying their debt after college and preparing for their future payments.
The first part of data collection will happen towards the end of the fall semester before winter break. This way, the data collected from students can represent spending during a whole semester. During winter break, the statistics from online resources about financial aid will be collected, and the first round of updates will be ready by February.