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2. Conducted each Spring and Fall semester Conducted each Spring and Fall semester On campus, one-on-one intercepts conducted by professional interviewers during the two week period March 12 th to 26 th, 2012 On campus, one-on-one intercepts conducted by professional interviewers during the two week period March 12 th to 26 th, 2012 1,200 Four Year full-time undergrads (Representative sample, 100 campuses stratified by Enrollment, Type, Location (Census Region/Division) 1,200 Four Year full-time undergrads (Representative sample, 100 campuses stratified by Enrollment, Type, Location (Census Region/Division) Margin of error +/- 2.4% Margin of error +/- 2.4% Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 2

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4. Compared to last year, increases are seen for monthly discretionary spending, annual personal earnings and the amount of money students receive from home Monthly discretionary spending: $225 (+15%) Monthly discretionary spending: $225 (+15%) Annual personal earnings: $4,809 (+15%) Annual personal earnings: $4,809 (+15%) 54% get money from home averaging $315 monthly (+19%) 54% get money from home averaging $315 monthly (+19%) 9% are employed full-time and 46% are employed part-time and 6% have an internship during the school year 9% are employed full-time and 46% are employed part-time and 6% have an internship during the school year Average age: 20.7 Average age: 20.7 Family HH income: $88,671 Family HH income: $88,671 Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 4

5. Business, followed by Engineering, Health Professions, Biology, Education and Psychology continue to be the most common majors Business, followed by Engineering, Health Professions, Biology, Education and Psychology continue to be the most common majors Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 5

6. S TUDENT B ANKING - 63% have a checking account in their own name, (average balance $631, down 2% from $647 last year) 63% have a checking account in their own name, (average balance $631, down 2% from $647 last year) 42% (up somewhat from 38% last year) were offered a credit card when they opened their checking account and 28% accepted the offer and received the card 42% (up somewhat from 38% last year) were offered a credit card when they opened their checking account and 28% accepted the offer and received the card 46% have a savings account in their own name (48% last year, average balance $1,039 compared to $1,127 last year) 46% have a savings account in their own name (48% last year, average balance $1,039 compared to $1,127 last year) 28% (20% last year) were offered a credit card when they opened their savings account and 26% (30% last year) accepted the offer and received the card 28% (20% last year) were offered a credit card when they opened their savings account and 26% (30% last year) accepted the offer and received the card 38% have an ATM card in their own name (44% last year) and 64% have a debit or check card in their own name 38% have an ATM card in their own name (44% last year) and 64% have a debit or check card in their own name 57% of those with a Campus Card have a card that acts as an ID, provides building access and also serves as a payment card 57% of those with a Campus Card have a card that acts as an ID, provides building access and also serves as a payment card 85% use their computer for online banking or financial services transactions 85% use their computer for online banking or financial services transactions Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 6

7. P AYMENT M ETHODS - 37% of monthly spending is cash-based, 55% with an ATM/debit or check card, 23% with a credit card and 5% with a school issued Campus Card 37% of monthly spending is cash-based, 55% with an ATM/debit or check card, 23% with a credit card and 5% with a school issued Campus Card 73% (74% last year) use their ATM card to pay for purchases and 84% of these students use their card to pay for purchases weekly or more often. Students using their ATM card to pay for purchases use their card an average of 18 times monthly (up from 14 times last year) 73% (74% last year) use their ATM card to pay for purchases and 84% of these students use their card to pay for purchases weekly or more often. Students using their ATM card to pay for purchases use their card an average of 18 times monthly (up from 14 times last year) 64% have a debit or check card in their own name (compared to 62% last year. Nearly half are Bank of America (21%), Chase (15%) or Wells Fargo (12%) issued check cards 64% have a debit or check card in their own name (compared to 62% last year. Nearly half are Bank of America (21%), Chase (15%) or Wells Fargo (12%) issued check cards 79% of students with a debit/check card use their card to pay for purchases weekly or more often. Students using their debit/check card to pay for purchases use their card an average of 17 times monthly 79% of students with a debit/check card use their card to pay for purchases weekly or more often. Students using their debit/check card to pay for purchases use their card an average of 17 times monthly By wide margin “Cash back” (58%) is the most commonly reported reward students are interested in receiving from the issuer of their debit/check card (17% mention “Entertainment” and 15% mention “Rebates on gas purchases”) By wide margin “Cash back” (58%) is the most commonly reported reward students are interested in receiving from the issuer of their debit/check card (17% mention “Entertainment” and 15% mention “Rebates on gas purchases”) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 7

8. C REDIT C ARDS - “Card in own name requiring proof of income” (43%) is the type of credit card most students prefer “Card in own name requiring proof of income” (43%) is the type of credit card most students prefer 27% have a general purpose credit card in their own name (VISA, MasterCard, Discover or American Express). 18% of all students have a VISA card in their own name, 8% MasterCard, 2% American Express and 3% Discover 27% have a general purpose credit card in their own name (VISA, MasterCard, Discover or American Express). 18% of all students have a VISA card in their own name, 8% MasterCard, 2% American Express and 3% Discover The average student cardholder has 1.4 cards (1.3 last year), 70% have one card, 23% have two cards and 7% have three or more cards. 7% (down from 14% two years ago) report that their parents “Don’t know” they have a credit card. The average student cardholder has 1.4 cards (1.3 last year), 70% have one card, 23% have two cards and 7% have three or more cards. 7% (down from 14% two years ago) report that their parents “Don’t know” they have a credit card. Chase (19%), Bank of America (17%), and Wells Fargo (15%) are the largest issuers of all VISA and MasterCard credit cards in students’ own name. Chase (23%) is the largest VISA issuer and Bank of America and Capital One (each 14%) are the largest MasterCard issuers Chase (19%), Bank of America (17%), and Wells Fargo (15%) are the largest issuers of all VISA and MasterCard credit cards in students’ own name. Chase (23%) is the largest VISA issuer and Bank of America and Capital One (each 14%) are the largest MasterCard issuers 67% of are satisfied with their credit limit and 78% received a credit limit increase in the past year 67% of are satisfied with their credit limit and 78% received a credit limit increase in the past year Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 8

9. C REDIT C ARDS (continued) - 88% use their credit card monthly or more often spending an average of $205 based on an average of 11 transactions 88% use their credit card monthly or more often spending an average of $205 based on an average of 11 transactions 70% (compared to last year’s 68% finding) pay their bill in full each month (among the 30% who carry a balance forward, the average balance is $641, down 8% from $695 last year) 70% (compared to last year’s 68% finding) pay their bill in full each month (among the 30% who carry a balance forward, the average balance is $641, down 8% from $695 last year) The largest share acquired their credit card by “Applying in person at my bank” (also their preferred method of acquiring a credit card The largest share acquired their credit card by “Applying in person at my bank” (also their preferred method of acquiring a credit card 62% (up from last year’s 56%) acquired their first card before starting college 62% (up from last year’s 56%) acquired their first card before starting college 67% believe they or their parents and family have the primary responsibility to educate them about managing their finances 67% believe they or their parents and family have the primary responsibility to educate them about managing their finances Somewhat more students (53%) believe they received enough credit education from the issuer of their credit card as those who did not (47%) Somewhat more students (53%) believe they received enough credit education from the issuer of their credit card as those who did not (47%) About one in four students (26%) are interested in obtaining a credit card in the next year About one in four students (26%) are interested in obtaining a credit card in the next year Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 9

10. S TUDENT L OANS - “Parents” (73%) and “School’s financial aid office” 58% continue to be the most influential sources of information about paying for college (27% identify their bank) “Parents” (73%) and “School’s financial aid office” 58% continue to be the most influential sources of information about paying for college (27% identify their bank) 68% of students expect to have undergrad student loan debt averaging $29,996 and more than $34,000 among students attending Private schools 68% of students expect to have undergrad student loan debt averaging $29,996 and more than $34,000 among students attending Private schools 60% of student loan debt is from government sources, 22% (20% last year) private, bank loans and 21% (20% last year) are loans direct from their school. More than half (55%) plan to consolidate their loans 60% of student loan debt is from government sources, 22% (20% last year) private, bank loans and 21% (20% last year) are loans direct from their school. More than half (55%) plan to consolidate their loans 54% (down somewhat from 61% last year and 65% two years ago) are “Confident in my ability to repay student loans according to the loan’s terms and conditions” 54% (down somewhat from 61% last year and 65% two years ago) are “Confident in my ability to repay student loans according to the loan’s terms and conditions” I NSURANCE AND I NVESTMENT P RODUCTS - “Automobile insurance” is the most commonly owned insurance or investment product and the product students are most likely to purchase in the next year “Automobile insurance” is the most commonly owned insurance or investment product and the product students are most likely to purchase in the next year 11% “Don’t have” health insurance (64% have health insurance via their parents policy) 11% “Don’t have” health insurance (64% have health insurance via their parents policy) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 10

11. Students report the highest level of interest in increasing their knowledge and literacy about “Investments” (49%) and the lowest level of interest in “Secured credit cards” (38%) Students report the highest level of interest in increasing their knowledge and literacy about “Investments” (49%) and the lowest level of interest in “Secured credit cards” (38%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 11

12. “Builds a credit history” (68%) is the highest rated feature of a payment card “Builds a credit history” (68%) is the highest rated feature of a payment card “Cool design or unique card shape” (24%) is the lowest rated feature of a payment card “Cool design or unique card shape” (24%) is the lowest rated feature of a payment card Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 12

13. Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 13

14. “ATM card/debit or check card” (55%, up from 44% last year) accounts for the largest share of monthly spending “Cash” (37%, down from 42% last year) accounts for the second highest share of monthly spending Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 14

15. Students report parents have their greatest level of influence when “Obtaining health insurance (54%, up from 49% last year) Students report parents have their greatest level of influence when “Obtaining health insurance (54%, up from 49% last year) Parents have comparatively less influence when “Opening a credit card account (37%) or “Obtaining renter’s insurance” (28%) Parents have comparatively less influence when “Opening a credit card account (37%) or “Obtaining renter’s insurance” (28%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 15

16. Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 16

17. 85% of students (including 82%) of Seniors) “Don’t know” what their credit score is Including this 85%, about one in ten (9%) report their credit score is between 700 to 850 (categorized as “Very” good”) 3% report their credit score falls into the 300 to 619 range Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 17

18. Nearly seven in ten (67%) believe a good credit score is “Very important” while 20% believe it is “Somewhat important” Among the 49% describing their credit score, nearly half (49%) describe their score as “Above average” or “Excellent” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 18

19. 88% of students are interested in receiving their credit score 88% of students are interested in receiving their credit score No single preferred method of receiving their credit score is mentioned by more than 18% of those interested in receiving their credit score No single preferred method of receiving their credit score is mentioned by more than 18% of those interested in receiving their credit score Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 19

20. Nearly two in three students believe they (35%) or their parents (32%) have the primary responsibility for educating them about managing finances Nearly two in three students believe they (35%) or their parents (32%) have the primary responsibility for educating them about managing finances About one in eight (13%) identify their bank About one in eight (13%) identify their bank Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 20

21. Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 21

22. About three in four students (76%) believe it is as least “Somewhat important” to have all of their financial products with one institution About three in four students (76%) believe it is as least “Somewhat important” to have all of their financial products with one institution Nearly half (47%) believe it to be “Very important” Nearly half (47%) believe it to be “Very important” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 22

23. More than six in ten (63% compared to last year’s 65%) report they have a checking account in their own name More than six in ten (63% compared to last year’s 65%) report they have a checking account in their own name Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 23

24. Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 24

25. About half (49%) of students’ checking accounts are Bank of America (21%), Chase (17%) or Wells Fargo (11%) checking accounts About half (49%) of students’ checking accounts are Bank of America (21%), Chase (17%) or Wells Fargo (11%) checking accounts Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 25

26. Including the 3% of students who “Don’t know” when they opened their checking account, nearly three in four (74%) opened their account before starting college Including the 3% of students who “Don’t know” when they opened their checking account, nearly three in four (74%) opened their account before starting college Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 26

27. 81% opened their checking account by visiting a branch with a family member or by themselves 81% opened their checking account by visiting a branch with a family member or by themselves Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 27

28. “Located near my parents’ home” was the most important criteria used by students when selecting where to open their checking account (more important than “Reputation” or “Reasonable pricing and fees” “Located near my parents’ home” was the most important criteria used by students when selecting where to open their checking account (more important than “Reputation” or “Reasonable pricing and fees” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 28

29.  59% were offered overdraft protection when they opened their checking account (another 26% “Don’t know)  56% have overdraft protection  “Transfer from a saving account” (63%) is the most common type of overdraft protection reported  “Avoid bounced check fees” (52%) and “Avoid potential negative reports to credit reporting agencies” (29%) are the most commonly reported benefits of overdraft protection  42% were offered a credit card when they opened their checking account (28% of these students accepted the offer) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 29

30.  64% don’t write any paper checks in a typical month  Among the 36% who write papers checks, in a typical month this group writes 2.5 paper checks  Students report an average monthly checking account balance of $631 (15% report $15 or less) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 30

31. More than four in ten (41%) report their bank offers text and/or email alerts and they use these alerts More than four in ten (41%) report their bank offers text and/or email alerts and they use these alerts One in four (24%) report the availability of these alerts but do not use them One in four (24%) report the availability of these alerts but do not use them Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 31

32. More than half (52%) are at least “Somewhat interested” in receiving text or email alerts from their bank More than half (52%) are at least “Somewhat interested” in receiving text or email alerts from their bank About three in ten (29%) report being uninterested About three in ten (29%) report being uninterested Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 32

33. Among the 53% of students who are offered and use alerts, 70% use balance alerts while 30% use general banking, spending or bill payments alerts Among the 53% of students who are offered and use alerts, 70% use balance alerts while 30% use general banking, spending or bill payments alerts Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 33

34. More than four in ten (46% and similar to last year’s 48%) have a savings account in their own name More than four in ten (46% and similar to last year’s 48%) have a savings account in their own name 33% (34% last year) don’t have a savings account 33% (34% last year) don’t have a savings account Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 34

35.  28% of those with a savings account in their own name were offered a credit card when they opened their savings account  Among the 28% offered a credit card, 26% accepted the offer  Students with a savings account report an average monthly balance of $1,039 (10% report a balance of $50 or less) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 35

36.  38% report they have a ATM card  75% of this group can make a purchase using a PIN number  73% can withdraw cash from their account, 52% can make a deposit. “Get cash” (81%) is the most commonly reported transaction  47% use their card weekly or more often for banking transactions  73% use their card to make purchases (84% of this group use their card weekly or more often to pay for purchases using it an average of 18 times monthly Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 36

37.  64% report they have a Debit/Check card  86% of this group reports their card has a VISA, MC logo on it  57% of this group can make a purchase using a PIN number  59% can withdraw cash from their account, 49% can make a deposit  48% can sign for a purchase using their debit/check card  79% use their card weekly or more often to make a purchase using it an average of 17 times monthly Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 37

38. Nearly half of all students’ debit or check cards are issued by Bank of America (21%), Chase (15%) or Wells Fargo (12%) Nearly half of all students’ debit or check cards are issued by Bank of America (21%), Chase (15%) or Wells Fargo (12%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 38

39. By a wide margin, “Cash back” (58%) is the debit/check card reward students are most interested in receiving By a wide margin, “Cash back” (58%) is the debit/check card reward students are most interested in receiving About one in six mention “Entertainment” or “Rebates on gas purchases” (15%) About one in six mention “Entertainment” or “Rebates on gas purchases” (15%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 39

40.  69% are interested in banking online  85% bank online and among this group the most common transactions are; “Check balances” (86%) “Check transactions” (60%) “Pay bills” (38%) “Transfer funds between accounts” (31%) “Find out if a check has cleared” (22%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 40

41. “Start building a credit history” (60%) is the highest rated reason for having a credit card “Start building a credit history” (60%) is the highest rated reason for having a credit card More than half mention “Additional purchasing power for the unexpected” or “track and review spending with statement” More than half mention “Additional purchasing power for the unexpected” or “track and review spending with statement” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 41

42.  62% report they would shift 1% or more of their spending from other payment methods to the credit card  Among this 62%, on average students would shift 31% of their spending from other payment methods to the credit card  24% would use their credit card weekly or more often and 34% would use their credit card “a couple times a year” or “Never/almost never”  Among those who would use the card, in a typical month they would charge $164 to their card Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 42

43. Students far prefer a credit card independent of their parents’ involvement Students far prefer a credit card independent of their parents’ involvement By a wide margin a “Card in own name requiring proof of income” is the most preferred type of credit card By a wide margin a “Card in own name requiring proof of income” is the most preferred type of credit card Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 43

44. “Use debit card, apply for a credit card after graduation” (33%) is students’ most common response to be declined or offered an insufficient credit line “Use debit card, apply for a credit card after graduation” (33%) is students’ most common response to be declined or offered an insufficient credit line A similar number of students (29%) would “apply for a different card” A similar number of students (29%) would “apply for a different card” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 44

45. More than half of all students express one or more concerns about having a credit card More than half of all students express one or more concerns about having a credit card “Identity theft” (68%) is the most commonly mentioned concern “Identity theft” (68%) is the most commonly mentioned concern Somewhat fewer students mention “Payment anxiety” (59%) Somewhat fewer students mention “Payment anxiety” (59%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 45

46. When asked what one brand of credit card that comes to mind first, 21% mention VISA (27% mention VISA or any iteration of VISA) When asked what one brand of credit card that comes to mind first, 21% mention VISA (27% mention VISA or any iteration of VISA) About one in six (17%) mention American Express About one in six (17%) mention American Express 10% mention MasterCard or any iteration of MasterCard 10% mention MasterCard or any iteration of MasterCard Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 46

47. 36% have access to a credit card (own card or authorized use of someone else’s card) 36% have access to a credit card (own card or authorized use of someone else’s card) 27% have a VISA, MasterCard, American Express or Discover card in their own name 27% have a VISA, MasterCard, American Express or Discover card in their own name Students with a credit card in their own name are more than twice as likely to have a VISA than a MasterCard Students with a credit card in their own name are more than twice as likely to have a VISA than a MasterCard Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 47

48. The first credit card in students’ own name; 63% VISA 63% VISA 24% MasterCard 24% MasterCard 8% Discover 8% Discover 4% American Express 4% American Express Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 48

49. 40% of students’ first credit card in their own name was a; Chase (14%) Chase (14%) Bank of America (also 14%) Bank of America (also 14%) Wells Fargo (12%) credit card Wells Fargo (12%) credit card Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 49

50. 62% of students applied for their first credit card before starting college 62% of students applied for their first credit card before starting college Average age 18 Average age 18 52% applied during the 3 month period June-August excluding the 31% who “Don’t know” 52% applied during the 3 month period June-August excluding the 31% who “Don’t know” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 50

51. More than 90% of students report being at least “Somewhat prepared” for the responsibility of owning and using a credit card More than 90% of students report being at least “Somewhat prepared” for the responsibility of owning and using a credit card 43% report being “Very prepared” 43% report being “Very prepared” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 51

52. More than half of students (53%) report receiving at least “Enough” credit education from the issuer of their first card More than half of students (53%) report receiving at least “Enough” credit education from the issuer of their first card About one in five (18%) report “More than enough” while about three in ten report “Very little” or “None” About one in five (18%) report “More than enough” while about three in ten report “Very little” or “None” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 52

53. “Located near my parents’ home” (33%) is the highest rated importance factor when selecting where to open their credit card account “Located near my parents’ home” (33%) is the highest rated importance factor when selecting where to open their credit card account One in four (25%) mention “Referred by a parent or other family member” One in four (25%) mention “Referred by a parent or other family member” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 53

54. One in seven report they are likely to cancel their credit card in the next 12 months One in seven report they are likely to cancel their credit card in the next 12 months Considering the number of students with a VISA or MasterCard, a larger share of student with a MasterCard plan to cancel their card than those with a VISA Considering the number of students with a VISA or MasterCard, a larger share of student with a MasterCard plan to cancel their card than those with a VISA Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 54

55. About one in four (26%) are interested in obtaining a credit card in their own name in the next 12 months About one in four (26%) are interested in obtaining a credit card in their own name in the next 12 months Among this 26%, 58% are interested in VISA, 27% MasterCard, 23% American Express and 12% Discover Among this 26%, 58% are interested in VISA, 27% MasterCard, 23% American Express and 12% Discover Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 55

56. By a wide margin “Cash back” (53%) is the highest rated reward students are interested in receiving from the issuer of their credit card By a wide margin “Cash back” (53%) is the highest rated reward students are interested in receiving from the issuer of their credit card Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 56

57. Chase is the largest issuer of all VISA and MasterCards in students’ own name Chase is the largest issuer of all VISA and MasterCards in students’ own name Chase is the largest issuer of all VISA cards in students’ own name Chase is the largest issuer of all VISA cards in students’ own name Capital One and Bank of America (each 14%) are the largest issuers of all MasterCards in students’ own name Capital One and Bank of America (each 14%) are the largest issuers of all MasterCards in students’ own name Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 57

58. 81% of all students with a VISA credit card in their own name have a checking account with the same bank as issued their VISA card 81% of all students with a VISA credit card in their own name have a checking account with the same bank as issued their VISA card 69% of all students with a MasterCard credit card in their own name have checking account with the same bank as issued their MasterCard 69% of all students with a MasterCard credit card in their own name have checking account with the same bank as issued their MasterCard Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 58

59. Students with an American Express credit card report a somewhat higher credit limit than others Students with an American Express credit card report a somewhat higher credit limit than others Students with a MasterCard report the highest level of satisfaction with their credit card limit and also report the highest incidence of a credit limit increase in the past year Students with a MasterCard report the highest level of satisfaction with their credit card limit and also report the highest incidence of a credit limit increase in the past year Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 59

60. By a wide margin, students are most likely to have applied at their bank when applying for their VISA or MasterCard By a wide margin, students are most likely to have applied at their bank when applying for their VISA or MasterCard About a third of Discover cardholders and the largest share responded to an offer in the mail About a third of Discover cardholders and the largest share responded to an offer in the mail Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 60

61. By a wide margin, nearly half (49%, including 25% who “Don’t know”) would prefer to apply in person at their bank when applying for a credit card By a wide margin, nearly half (49%, including 25% who “Don’t know”) would prefer to apply in person at their bank when applying for a credit card Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 61

62. One in five students report “Have account at bank”, the most commonly reported reason for applying for the last credit card they applied for One in five students report “Have account at bank”, the most commonly reported reason for applying for the last credit card they applied for Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 62

63. American Express cardholders report a somewhat higher incidence of using their card at least once monthly and also report using it somewhat more frequently American Express cardholders report a somewhat higher incidence of using their card at least once monthly and also report using it somewhat more frequently VISA cardholders report a somewhat higher average monthly amount charged VISA cardholders report a somewhat higher average monthly amount charged MasterCard cardholders are somewhat more likely to carry a balance and have been charged a late payment fee and have been charged a late payment fee more than once MasterCard cardholders are somewhat more likely to carry a balance and have been charged a late payment fee and have been charged a late payment fee more than once Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 63

64. The top three reasons for acquiring a credit card in their own name are; 1.“Become more financially responsible” (47%) 2.“Establish a credit history” (44%) 3.“Convenience” (36%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 64

65. “How a credit card effects my credit rating” (15%), “Fees on the card such as over limit fees” (also 15%) and “The interest rate on the card” (14%) are the three most commonly mentioned items students would have liked to know when they first opened their account “How a credit card effects my credit rating” (15%), “Fees on the card such as over limit fees” (also 15%) and “The interest rate on the card” (14%) are the three most commonly mentioned items students would have liked to know when they first opened their account Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 65

66. Nearly seven in ten (69%) report “My parents think I can handle the responsibility of my own credit card” Nearly seven in ten (69%) report “My parents think I can handle the responsibility of my own credit card” More than six in ten (61%) report “My parents did not discourage me from acquiring my own credit card More than six in ten (61%) report “My parents did not discourage me from acquiring my own credit card Nearly six in ten (59%) report “my parents did not discourage me from acquiring my own credit card Nearly six in ten (59%) report “my parents did not discourage me from acquiring my own credit card Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 66

67. By a wide margin (and consistent with the number os students with a VISA credit card in their own name) VISA is the credit card students use most often (61%) By a wide margin (and consistent with the number os students with a VISA credit card in their own name) VISA is the credit card students use most often (61%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 67

68. 42% of students’ credit cards in own name are issued by; Chase (16%) Chase (16%) Bank of America (13%) Bank of America (13%) Wells Fargo (also 13%) Wells Fargo (also 13%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 68

69. Students report a variety of reasons why they use one particular card most often Students report a variety of reasons why they use one particular card most often “First card I obtained” is the reason mentioned most often “First card I obtained” is the reason mentioned most often Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 69

70. More than half of all students with a credit card in their own name “Don’t know” when their interest rate was last increased More than half of all students with a credit card in their own name “Don’t know” when their interest rate was last increased 17% report an increase within the last year or more recently 17% report an increase within the last year or more recently One in five (20%) report their interest rate has “Never” been increased One in five (20%) report their interest rate has “Never” been increased Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 70

71. In a typical month; 53% of students receive a credit card solicitation in the mail (down from 59% last year) 53% of students receive a credit card solicitation in the mail (down from 59% last year) 39% via eMail (unchanged from last year) 39% via eMail (unchanged from last year) 16% from a telemaketer (17% last year) 16% from a telemaketer (17% last year) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 71

72. 12% of students have applied for 1 or more credit cards in their own name in the past year 12% of students have applied for 1 or more credit cards in their own name in the past year 7% of students were approved for one or more credit cards in their own name in the past year 7% of students were approved for one or more credit cards in their own name in the past year 7% of students activated one or more credit cards in their own name in the past year 7% of students activated one or more credit cards in their own name in the past year Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 72

73. “Accepts payment online” (41%) and “24 hour toll-free customer service” (also 41%) are the highest rated credit card characteristics and features “Accepts payment online” (41%) and “24 hour toll-free customer service” (also 41%) are the highest rated credit card characteristics and features 35% mention “Can be used at ATM” and an equal number mention “Card for college students” 35% mention “Can be used at ATM” and an equal number mention “Card for college students” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 73

74. The three highest rated credit card design attributes are; 1.“Cool design” (62%) 2.“Photo on card for ID purposes” (56%) 3.“Associated with the brand or organization I identify with” (53%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 74

75. More than six in ten (63%) believe “It is or would be my responsibility to keep track of how much I spend with credit cards” More than six in ten (63%) believe “It is or would be my responsibility to keep track of how much I spend with credit cards” 26% believe “I can build my credit history buy using my parent’s card” 26% believe “I can build my credit history buy using my parent’s card” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 75

76. Less than three in ten report being likely to use 1 or more of 8 types of spending alerts Less than three in ten report being likely to use 1 or more of 8 types of spending alerts 70% prefer to receive the alert “within seconds of purchase:” 70% prefer to receive the alert “within seconds of purchase:” Nearly six in ten (57%) prefer to receive the alert in the form of a text message Nearly six in ten (57%) prefer to receive the alert in the form of a text message Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 76

77. 64% report receiving money from home (the incidence of receiving money from home decreases with year in school) 64% report receiving money from home (the incidence of receiving money from home decreases with year in school) Among this 64%, 52% receive cash and 44% report their parents transfer money into a checking account Among this 64%, 52% receive cash and 44% report their parents transfer money into a checking account Among this 64%, 75% use this money for living expenses, 63% general spending money and 45% for books and supplies Among this 64%, 75% use this money for living expenses, 63% general spending money and 45% for books and supplies Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 77

78. More students “Keep spending in my head” (33%) than “Record spending” (29%) More students “Keep spending in my head” (33%) than “Record spending” (29%) About one in ten “Do not keep track of spending” and nearly one in five (18%) “Receive alerts from bank/credit card About one in ten “Do not keep track of spending” and nearly one in five (18%) “Receive alerts from bank/credit card Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 78

79. 15% have closed a bank or credit card account in the past 6 months 15% have closed a bank or credit card account in the past 6 months Among this 15%, 60% closed a checking account and 47% closed a check account Among this 15%, 60% closed a checking account and 47% closed a check account Far fewer students closed a credit card account Far fewer students closed a credit card account Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 79

80. Students who closed a checking or savings account were most likely to have closed a Bank of America checking or savings account Students who closed a checking or savings account were most likely to have closed a Bank of America checking or savings account Students who closed a VISA account were most likely to have closed a Chase VISA account Students who closed a VISA account were most likely to have closed a Chase VISA account Students who closed a MasterCard account were most likely to have closed a Wells Fargo, Chase or BB&T MasterCard account Students who closed a MasterCard account were most likely to have closed a Wells Fargo, Chase or BB&T MasterCard account Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 80

81. Nearly half (47%) have a Campus Card Nearly half (47%) have a Campus Card Students at Private schools (57%) are more likely than students at Public schools (41%) to have a school-issued campus card Students at Private schools (57%) are more likely than students at Public schools (41%) to have a school-issued campus card Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 81

82. Among the 47% with a Campus Card, 57% have a campus card that acts as a Student ID, provides building access and serves as a payment card Among the 47% with a Campus Card, 57% have a campus card that acts as a Student ID, provides building access and serves as a payment card 26% of those with a Campus Card report their card has a bank logo 26% of those with a Campus Card report their card has a bank logo Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 82

83. About two in three (65%) believe it is at least “Somewhat important” for their school to provide them with a school issued Campus Card About two in three (65%) believe it is at least “Somewhat important” for their school to provide them with a school issued Campus Card Importance ranges from a high of 74% among students living on campus to a low of 47% among students living at home and commuting to school Importance ranges from a high of 74% among students living on campus to a low of 47% among students living at home and commuting to school Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 83

84. Students are most likely to use their school issued Campus Card for;  “On campus dining” (90%)  “On campus bookstore” (76%)  “On campus printers/copiers” (65%)  “On campus vending” (57%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 84

85. Among those whose Campus Card serves as a payment card, 72% use it to make purchases Among those whose Campus Card serves as a payment card, 72% use it to make purchases Among this 72%, 63% use it to make purchases several times a week or more often Among this 72%, 63% use it to make purchases several times a week or more often Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 85

86. Among the 72% who use their school issued campus card to make purchases, these students spend an average of $30 weekly Among the 72% who use their school issued campus card to make purchases, these students spend an average of $30 weekly As would be expected, students living on campus report spending nearly three times what students living off campus report ($43 compared to $15) As would be expected, students living on campus report spending nearly three times what students living off campus report ($43 compared to $15) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 86

87. Among the 72% who use their school issued campus card to make purchases, students make an average of 7 transactions weekly Among the 72% who use their school issued campus card to make purchases, students make an average of 7 transactions weekly Students living on campus report making more than twice as many transactions compared to students living off campus (10 compared to 4) Students living on campus report making more than twice as many transactions compared to students living off campus (10 compared to 4) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 87

88. 87% spend on campus with their Campus Card (little difference based on residency) 51% spend some portion with their card off campus Among the 51% spending off campus, students living at home spend more than students living on campus Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 88

89. The three, highest rated benefits of a school issued Campus Card are; 1.“Convenience” (53%) 2.“Don’t have to carry cash” (49%) 3.“Handles most on campus needs” (47%) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 89

90. 45% own one or more of seventeen insurance or investment products in their own name Among this 45%, 42% own automobile insurance and 40% own cell phone or personal electronics insurance 5% of all students own student loans insurance and 2% own tuition insurance Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 90

91. 23% of students plan to purchase one or more of seventeen insurance or investment products in their own name in the next 12 months Among this 23%, 39% plan to purchase auto insurance and 26% plan to purchase cell phone or personal electronics insurance Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 91

92. 49% report their school requires students to have health insurance Among the 90% with health insurance, 60% report their health insurance coverage is part of their parents’ policy Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 92

93. 50% report a high risk and concern for personally experiencing hospital care for an accident related injury 48% report a high risk and concern for personally experiencing an auto accident resulting in vehicle damage or injury Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 93

94. Nearly half of all students (47%) “Don’t know” where they are most likely to purchase insurance products Nearly half of all students (47%) “Don’t know” where they are most likely to purchase insurance products Among the 53% with a preference, 57% report being most likely to purchase insurance products from a “Local insurance agent” and 17% from an internet insurance web site Among the 53% with a preference, 57% report being most likely to purchase insurance products from a “Local insurance agent” and 17% from an internet insurance web site Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 94

95. Nearly four in ten (48%) report they have or have had a friend hospitalized in the past two years Nearly four in ten (48%) report they have or have had a friend hospitalized in the past two years About one in eight (12%) report they have or have has a friend withdraw from college for emergency or family reasons About one in eight (12%) report they have or have has a friend withdraw from college for emergency or family reasons Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 95

96. More than seven in ten (73% and the largest group of students) believe “Parents” are the most influential source about paying for college More than seven in ten (73% and the largest group of students) believe “Parents” are the most influential source about paying for college Nearly six in ten (58%) mention their school’s financial aid office Nearly six in ten (58%) mention their school’s financial aid office Fewer than four in ten (38%) mention a student loan company and even fewer (27%) mention a bank Fewer than four in ten (38%) mention a student loan company and even fewer (27%) mention a bank Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 96

97. Only somewhat more than half (54%) are confident about paying back their student loans Only somewhat more than half (54%) are confident about paying back their student loans More than four in ten (43%) believe “the process of identifying ways to pay for college to be complicated and confusing” More than four in ten (43%) believe “the process of identifying ways to pay for college to be complicated and confusing” Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 97

98. 68% expect to have undergraduate student loan debt 68% expect to have undergraduate student loan debt Among this 68%, students attending Private schools expect to have an average of $34,381 in student loan debt or 26% more than students attending Public schools ($27,250) Among this 68%, students attending Private schools expect to have an average of $34,381 in student loan debt or 26% more than students attending Public schools ($27,250) Students believe it will take an average of 7.5 years to payoff their loan Students believe it will take an average of 7.5 years to payoff their loan Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 98

99. Among the 68% who expect to graduate with undergrad student loan debt, 60% of that debt is a Government student loan Among the 68% who expect to graduate with undergrad student loan debt, 60% of that debt is a Government student loan Virtually equal shares of student loan debt are represented by Private loans from a bank or credit union and Loans direct from my school (22% and 21% respectively) Virtually equal shares of student loan debt are represented by Private loans from a bank or credit union and Loans direct from my school (22% and 21% respectively) Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 99

100. F ALL 2012 P RODUCTION T IMETABLE L IFESTYLE & M EDIA, C OMPUTING & T HE I NTERNET 20 th DraftQuestionnaireDistributed ToplineResultsDistributed 17 th Final Report, PresentationsBegin 9 th In Field A UGUST S EPTEMBER O CTOBER N OVEMBER D ECEMBER 10thComments, Proprietary Questions Due 17 th QuestionnaireFinalized Spring 2012 © STUDENT MONITOR LLC – All Rights Reserved, Unauthorized Use Prohibited 100