Abstract:

This study aims to examine the effect of demographic characteristics on business students’ financial literacy levels in public urban universities. It used 200 public university students as the sample and employed a probit regression analysis to see the impact of demographic factors on students’ financial literacy level. The study revealed that age and GPA had a positive and significant influence on the level of financial literacy. The higher the age and GPA of students were, the better their levels of financial literacy became. Students’ place of residence and their home-campus also affected the level of financial literacy and level of financial knowledge. Meanwhile, gender, length of study, and parents' income did not affect the level of student financial literacy. It implies that some demographic and academic factors play an essential role in business students’ financial literacy, which indicates a need for comprehensive personal finance course