Wave 4 of the first scientific, longitudinal study of young adults’ changing financial knowledge and practices was released in May 2017. The APLUS (Arizona Pathways to Life Success for University Students) project culminates eight years of research by SoHE’s Dean Soyeon Shim, PhD, who founded the study and now serves as co-principal investigator along with principal investigator Joyce Serido, PhD, University of Minnesota.
Full findings of the study have been released in the booklet “Approaching 30: Adult Financial Capability, Stability and Well-being” (download PDF) with key findings on adulthood, financial capability, goals, well-being, and student loans.
More about APLUS – Wave 4
The research is the first of its kind to explore where Millennials intersect on finances, relationships, and well-being. Launched in 2008, the study began by collecting data from a group of students entering freshman year and, through multiple phases or “Waves,” tracked their financial progress over the years into adulthood. The intent of the study is to provide insights to help young adults make positive life choices as well as policy makers and educators who can influence their paths to better financial, physical, and emotional well-being. A specific focus of Wave 4 is the status of student loans repayment and its impact on young adults’ lives.
The Wave 4 phase of the research surveyed 900, or 43% of the original participants, covering their employment, financial self-efficacy, socioeconomic and demographic, well-being and more. The study was made possible through the support of the National Endowment for Financial Education® and Great Lakes Higher Education Corporation & Affiliates.
Learn more at http://aplus.arizona.edu/