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September, 8, 2025

Ferris Professors Explore Rural Gen Z Perspectives on Debt in New Study

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BIG RAPIDS, Mich. — 

Two Ferris State University professors are drawing national attention to the financial attitudes of rural young adults through their latest collaborative research. Drs. Henry Ho and Scot Squires, professors of Marketing, recently published “Young Rural Consumers’ Perspectives on Debt: Insights from a Focus Group Study in Michigan, USA” in the Journal of Rural and Community Development. Their qualitative study offers rare insight into how Generation Z (those born between 1997-2012) from rural Michigan view borrowing, credit, and financial responsibility.

A Rural Lens on a National Issue

While debt is a pressing concern across the country, Ho and Squires focused on a group often overlooked in consumer research: young adults from rural communities. Through a series of focus group interviews, they sought to understand not only how these individuals perceive debt but also how their environment, families, and cultural values shape their financial decision-making.

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“Rural communities represent a unique context,” Dr. Ho explained. “Their consumer behaviors are influenced by close-knit family ties, local traditions, and limited financial resources. By studying rural Gen Z, we’re uncovering perspectives that differ from those in urban or suburban areas.”

Key Findings

The study revealed five consistent themes among participants:

  • Caution toward debt: Most participants expressed reluctance to borrow money.
  • Credit cards as empowerment: Despite their hesitancy, having a credit card gave them a sense of independence and maturity.
  • Family and community influence: Financial attitudes were strongly shaped by family members and even local media figures.
  • Skepticism of student loan forgiveness: Many participants did not support the idea of government canceling student debt.
  • Debt for investments: Borrowing was more acceptable when linked to significant, long-term purchases such as housing.

“These insights highlight the nuanced beliefs members of Gen Z have when it comes to finances and debt,” Dr. Squires said. “They are cautious, yet pragmatic. Better understanding their mindset is vital for businesses, policymakers, and educators alike.”

Building on Previous Work

This new publication expands upon the professors’ earlier quantitative study, published in Young Consumers in 2023, which examined gender differences in debt perceptions. That research found young men reported feeling more in control of debt, while young women felt a stronger emotional burden from it.

Together, these projects contribute to a growing body of work that positions Ferris State University as a thought leader in consumer behavior research, especially in rural contexts.

Practical Implications

For financial institutions and businesses serving rural communities, Ho and Squires’ research provides actionable insights. By understanding how rural Gen Z approaches borrowing, companies can design financial products, communication strategies, and educational tools that resonate more effectively with this generation.

“This research is about more than just theory,” Dr. Squires added. “It’s about better understanding rural communities and equipping the next generation of young consumers with the knowledge and tools they need to make sound financial decisions.”