2Running Head: STUDENT SUCCESSIntroductionHigher education is becoming an essential component for securing future financialstability. The purpose of this literary review was to gain an understanding of the relationshipbetween student debt and saving habits, while considering academic success. The researchquestion used to guide this study included: do student saving habits have an impact on academicsuccess? We will explore the main factors of student debt, saving practices, and overall academicsuccess amongst college and undergraduate students.Resource 1Alcohol consumption has a positive association to higher spending habits. Martin et al.(2005) conducted a survey amongst a random sample of 3,634 undergraduate students regardingtheir drinking behaviors. The authors defined “alcohol consumption” as the consumption of 5 ormore drinks in the last 30 days.The study found that students who spent the most money onalcohol tended to be male, Caucasian, members of fraternities, and varsity athletes. Similarly, thelowest reported levels of average monthly spending were associated with reduced levels ofdrinking. Martin et al. estimated this was due to the caution of spending money on a month-to-month basis.Resource 2Gender has a neutral effect on saving habits. Zamora-Lobato et al. (2018) interviewed 60employed students in Veracruz regarding their spending habits and highlighted the differences
