2022 Student Financial Experience Report is now available!Download here

2 minute read

Key Differences of Payment Habits Amongst Student Groups

11/16/2021 8:00:00 AM

While today’s higher ed students are digital natives, not all use technology in the same ways and with the same frequency. Paying attention to these differences can reveal ways to engage students and improve the services provided to them. As a writing instructor would say, know your audience.

To better understand how different student populations think and act in a digital world, our research disaggregated responses into a few general categories for comparison. The following are a few of the many insights uncovered when we surveyed students about their app usage and financial habits.

Underclassmen — Upperclassmen

  • Freshman are more likely to use college/university apps to pay for things on campus.
  • Juniors and seniors are more likely to use a credit/debit card to pay for things on campus.

Small School — Large School

  • Students at 2-year or small 4-year schools are more likely to prefer their campus card/student ID as a method to make payments to their college/university.
  • Students at large 4-year schools are more likely to use online banking as the main method to pay for tuition.

On-Campus — Off-Campus

  • Students living on campus are more likely to prefer paying tuition through their college’s or university’s app.
  • Students living off campus are more likely to prefer paying tuition with cash or Apple Pay.

Female — Male

  • Female students are more likely to use a credit/debit card to pay for items purchased at campus stores or to not purchase items at stores on campus.
  • Male students are more likely to use cash to pay for dining/food on campus and to pay for items purchased at campus stores.

Download the Report to Learn More

You can gain more insights into students’ tech and money habits by downloading your free copy of the 2021 Student Financial Experience Report. Our second annual survey provides valuable research to inform higher ed professionals administering services across campus.

The 2021 Student Financial Experience Report gathered data from a ten-minute, online survey and utilized accepted standards of statistical practice. Respondents were required to be smartphone owners 18 or older enrolled at a U.S. college or university and not employed in a competitive industry. TouchNet will repeat the survey annually for our clients’ benefit.