The issue of credit-card debt among college students has received increasing attention. This study explored factors hypothesized to be causes and effects of credit-card debt in 448 students on five college campuses. Students reported an average of $1,035 (SD 5 $1,849) in debt, including students without credit cards or credit-card debt. Lack of financial knowledge, age, number of credit cards, delay of gratification, and attitudes toward credit-card use were related to debt. Sensation seeking, materialism, the Student Attitude Toward Debt scale, gender, and grade point average were not unique predictors of debt. Students reporting greater debt reported greater stress and decreased financial well being. Results highlight the need for comprehensive financial literacy education among college students.Credit-card debt among college students has become an increasing concern in recent years. Newspapers and magazines cover the topic on a regular basis, and legislators seek ways to stem the tide of indebted students. Although there is a great deal of data indicating that students are in debt, little is known about why students fall into debt. The present study explores the relative weight of personality factors, attitudes toward money and possessions, and financial knowledge as predictors of credit-card debt among college students.

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