Credit Behavior of Students in Saint-Petersburg

To date, the debt load of the Russian population is an urgent topic for analysis. According to statistics, the debt level of the population is growing, and the average resident of the Russian Federation has two loans. Especially recently, credit has become popular among young people and specifically students. The aim of this study was therefore to understand what socio-psychological, socio-economic and socio-cultural factors may affect student credit behavior. There was conducted a secondary data analysis plus qualitative block in the form of 20 semi-formalized interviews with students from 5 different St-Petersburg universities. The sample is consists of 14 girls and 6 boys. Results of the research showed that the most uncommon reasons to take a loan among students is to create a good credit history from the young age , the most popular credit is installment on a smartphone, the bank is almost never selected, and parents play an important role only for those students who are still financially dependent on them.