Abstract

MOROCHO GARCIA, Andrés Vicente; ERAZO ALVAREZ, Juan Carlos; NARVAEZ ZURITA, Cecilia Ivonne  and  CARVACHE FRANCO, Silvano Mauricio. Financial literacy in college students and its relationship to the use of educational credit. Conrado [online]. 2023, vol.19, n.91, pp. 179-186.  Epub Apr 30, 2023. ISSN 1990-8644.

Education is one of the fundamental pillars for the development of countries, especially if they are in a situation of poverty. The Educational Credit is an economic and social mechanism, which consists of a loan, with which the student covers all or part of the costs involved in their studies This article aims to determine the relationship between the use of credit and financial education among university students. For this purpose, it is based on a non-experimental design with quantitative techniques, which allow us to recognize the factors of this relationship. Based on the results obtained in the surveys, we found three problematic factors that were generated in the recovery of values: the first is related to the destination of the credits; second, with the reduction of the debtors' income; third, a deficiency in the notifications of overdue payments is visible. In this way, delinquency in the portfolio has been identified, making it necessary to provide exhaustive follow-up by loan managers in both the granting and recovery of loans. Finally, the research will help higher education institutions, both private and public, to make decisions to reduce credit risk and generate adequate financial education.

Keywords : Educational credit; Debt; Higher education; Financial institutions.

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