Resources / Research

Exploring Financial Habits and Technology Use Among College Students

A 2023 National Study of Current College Students and High School Juniors and Seniors

Smiling woman using phone

Illumia Conducted a National Study of 1,376 Students (Ages 16-30)

This research was created to uncover the trends, expectations, behaviors, and unmet needs shaping higher education that institutions rarely have clear visibility into.

20%

Gen Z in high school (ages 16-18)

62%

Traditional college-aged Gen Z (ages 18-22)

11%

Non-traditional college-aged Gen Z (ages 23-26)

7%

Millennials attending college (ages 27-30)



Emerging Generations Are Reshaping the Payment Experience

College students are frustrated with how they currently pay for tuition, books, and housing. They expect seamless, mobile-first options integrated into their digital lives—on campus and off. Here's what students said:
72%
Ease of payment should factor into college ratings.
74%
Improving payments should be a campus priority.
66%
Feel safer paying online.
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Student IDs, Security, and Emerging Generations

The heightened emphasis on safety in the past few years has made it a top priority for higher education institutions of all sizes and locations, including urban and rural areas. For campus administrators, the issue of safety is multifaceted, as students expect both ease of movement and convenience, while also demanding a comprehensive approach to ensure the security of everyone on campus.

75% of students surveyed say colleges that require student IDs make them feel safer when they're on campus.



Students Expect More from Their Campus ID

Beyond access to buildings, they want a digital credential that works seamlessly across their daily experience—from residence halls and libraries to dining, delivery, and mobile payments. Here's what they think:
55%
Colleges without digital IDs are outdated
70%
Carrying a physical ID is annoying
61%
Replacement cost is the biggest disadvantage to physical IDs

Download the research study