CHAPTER 1
Today it is difficult to earn money for school supplies, food, equipment, [Link]
performance level of students in Southern Luzon Technological College
Foundation, Inc. is significantly impacted by financial difficulties that hinder their
ability to pay for school fees, as recognized by researchers. (SLTCFI).
Researchers want to do this study to investigate and find more information to
discover the existence of this particular phenomenon..
Presently, a few pupils are finding it challenging to pay for their school fees and another
issue for them is the lack of school supplies. Two additional years have been added for
high school and students who want to work but are minors cannot work because they
are minors and their parents cannot afford to educate their child due to a disability with
financial aid. and if other students do not have financial support, they will be less
educated.
In May 2006, the American Council on Education affirmed that Indonesia places great
importance on continuing education and early graduation for students and their
[Link] difficulties can lead students to resign or quit their jobs.
In other regions of the world, research on stress in higher education students has been
notably slower than research related to any other area of study. population (Michie,
Glachan and Bray, 2001).Similarly, in other countries, there has been an increase over
the last two decades of research on student stress in higher education, and
psychologists have come to more clearly understand their range (Robotham and Julian,
2006) and the factors related to student stressed state (Bitter et al., 2015).
There has been a similar surge in published research on the stress experiences of
Filipino students. Most of these studies focus on factors related to the experience of
stress, including sources of stress (Calaguas, 2012; Pengpid, Peltzer, & Ferrer, 2014),
responses to stress (Dy, Espiritu-Santo, Ferido, & Sanchez, 2015; Labrague et [Link]
addition to Calaguas, 2011 and Pengpid et al.'s research, there are several
psychological and educational reasons for stress., 2014; Reyes et al., 2016; Tamanal,
Park and Kim, 2017).
The correlation between financial stress, mental health challenges, college adjustment
difficulties, negative behaviors, social behavior patterns, and academic achievement
issues is established by Amy Adams. , Meyers, & Beidas, 2016, O'Brien, & Goetz,
2010;.
In various parts of the world,financial pressures have been identified as a contributing
factor to student stress in higher education settings (Aherne,2001; Joo,Durband,&
Grable,2008; Roberts,Golding,Towell,and Weinreb,The negative impact of financial
constraints and uncertainty on student well-being is a likely consequence of these
factors (Mahmoud,Staten,Hall. & Lennie,2012; Smyth,Hockemeyer,Heron,Wonderlich,et
al.
Filipino students often face financial challenges, and government data indicates that a
significant number of school-aged individuals are struggling with this issue. From the
basic education level, nearly 20% of Filipino school dropouts cited insufficient financial
resources as the main reason for dropping out (Philippine Statistics Authority,
2015).Among 17-year-olds, poverty was associated with higher rates of school dropout
rates (Reyes, Tabuga. Asis: Mondez Among the university-aged population, the main
reason (cited by 37.58%) for not attending college or university was the high cost of
higher education; Also, about [Link] study conducted by Reynolds and et al. revealed
that no one chooses to pursue higher education because of the necessity of finding a
job that would provide financial support for their family., 2015).Based on the current
study, we hypothesized that financial stress would have a detrimental effect on
subjective well-being, specifically life satisfaction, among Filipino students.
Financial stressors are a contributing factor to student stress in higher education
systems across different countries (Aherne, 2001; Joo- Durband, 2008;
Roberts/Golding, Towell / WeinrebThe negative impact of financial constraints and
uncertainty on student well-being is a likely consequence of these factors
(Mahmoud,Staten,Hall. & Lennie,2012; Smyth,Hockemeyer,Heron,Wonderlich,et al.,
Student financial stress is associated with higher mental health needs (Hyun, Quinn,
Madon, & Lustig, 2006), difficulty adjusting to college (Meehan & Negy, 2003), and a
variety of negative behaviors. , social relationships and academic achievement (.
Adams, Meyers, & Beidas, 2016, O'Brien, & Goetz, 2010;.
Filipino students frequently encounter financial hardship, and government data indicates
that a significant number of school-age individuals also face such situations. From the
basic education level, almost 20% of Filipino children who dropped out of school cited
insufficient financial resources as the main reason for dropping out (Philippine Statistics
Authority, 2015).Among 17-year-olds, poverty was the most prevalent cause of dropping
out of school (Reyes,
The primary challenge in researching the effects of financial difficulties on
students' academic achievement is that stress related to money frequently makes
it difficult for students to concentrate on their studies. A student's ability to focus,
finish homework, or do well on tests may be hampered by increased stress and
worry brought on by financial issues. restricted access to learning resources,
including technology, textbooks, and other academic materials. juggling work and
school because students may have to take on full- or part-time employment in
order to pay for their education, which limits their free time and energy. decreased
involvement in recreational and academic activities, which may restrict possibility
for learning and skill improvement. These elements have the potential to have a
detrimental impact on students' academic performance, resulting in worse grades,
a higher dropout rate, and decreased participation in academic
Paraphrase without limits.
This research explores the experience of foreign students at the University of
Toledo, where international students make up nearly 10% of the student
population. This highlights the problems faced by international students, such as
adapting to a new culture, English language issues, financial issues and lack of
understanding from the wider community of universities. Impromptu advice Sherry
and Thomas (2010).
Research on funding and student issues is limited to global and national studies,
as there are no existing local-scale studies available. Therefore, our research
should explain in more detail based on the research problem.
The media continues to report on bank robberies, kidnappings, loan sharks and other
similar incidents in the present day. Why did these crimes happen? This is because
they had financial problems in their lives until they got involved in crimes. Financial
problems also happen to students, especially when they continue their education
outside their hometown. Students always complain about the kind of money.
We investigated the impact of financial problem of among Filipino students to
determine if it is mitigated by external sources of [Link] questionnaires on financial
stress, internal and external locus of hope for life satisfaction, as well as other scales
related to academic achievement, were completed by students from different
universities; all the scaled items had satisfactory psychometric properties for the current
sample.
The impact of external family stress on students' financial problems and life satisfaction
is moderate, while high levels of exposure to external stress do not negatively impact
their overall happiness and well-being. The impact of financial problems seems to have
a moderate impact on life satisfaction, while only students with low financial stress
experience favorable conditions.
In developed countries, the study on the impact of financial problem has become a
major concern in recent years due to personal finance's significance in societies,
particularly after the economic crisis of Before the economic crisis of 2008, studies on
financial literacy were rare in academic journals, but governments in many developed
countries paid the necessary attention to the problem of financial literacy after the
crisis.A Personal Finance Advisory Committee was established to promote financial
literacy among Americans following the economic crisis.
East Asian Student Stress Inventory (EASSI).Financial stress was assessed using a
subscale of the items that represented financial hardship from the EASSI (Chng, Ding,&
Perez, The subscale consisted of four items [p. e.g., "I can't concentrate in school
because I'm worried about my finances or my family" and "I can't afford to spend money
on entertainment and fun (eg movies and restaurants) EASSI included another 20 items
referring to other sources of stress, such as family pressure, exam anxiety, among
others, but these were not analyzed in the present study. The respondents were asked
to rate the answers on a scale of 1 (very likely agreeable) to 5 (probably Agreeable).
Many people worry about whether they missed out on something important during
college, given their worries about paying for classes and figuring out how to handle
financial issues. As adults, we need to know how to manage our money well. However,
either many people skipped this course or it was never offered. It’s possible to solve
your financial problems without an Ivy League degree. Those who want to solve their
money and debt problems can tackle these 9 self-study tasks, which include 8 steps
and remedial tasks.
Financial difficulties are prevalent among the students in the second and fourth year of
the Southern Luzon Technological College, Inc. Foundation. (SLTCFI). Its impact on
students is great and affects their overall performance in school and their eventual
success in completing their education. For every student who studies, there are
incidental expenses, such as projects and a compulsory school contribution. Even food
and clothing for the family is a heavy burden for students from poor families.
The definition of educational and financial issues has broadened in recent years,with
different interpretations being used to describe them (Foley,Holland; Levinson,Perna's
2008 study revealed that financial stress and anxiety are linked to a range of mental
health issues.
Recent studies on the impact of implementing the program to tackle financial problems
were found to be problematic for some Filipinos in terms of finances, according to a
study by Gullas (2014), which led to an increase in the cost of two supplements.
compensation years. Furthermore, only 18% of Filipinos consider themselves financially
“successful” (Diola, 2015).
The above scenario implies that one must depend on individuals who lack education,
emotional difficulties, and experiences. This investigation, as conducted by the
researcher, is pertinent to the present circumstances in which individuals and
educational establishments are anxious about factors that impact educational
effectiveness. The researcher opted to establish an intercyclical plan for individuals
without education, which will aid in the advancement of their attitude towards learning,
character, and faith, even with no prior experience.
Some students face significant challenges in their lives due to financial issues, while
others are hindered by these problems as a result of not being born into privileged
families. There are also students who balance their studies with work to support
themselves.
SCOPE AND DELIMITATION
This study focuses on the "Impact of financial problems" on the academic performance of
students. Where in the study determines the impact of financial problems and its impact on
the academic performance of students of technological colleges in Southern Luzon. In
addition, the study will also discuss how to minimize and prevent financial stress to improve
academic [Link] study is limited to 2nd and 4th year students of the Southern
Luzon Technological College Foundation who experience financial stress in their academic
performance throughout the 2024-2025 school year. The participants consist of one hundred
(100) students from different courses. However, the data collection process was challenging
for the researchers due to some students who did not respond or did not participate in
completing the [Link], the quiz created on the interval is designed only for
students of this age. In addition, researchers try to make the strategy and data as accurate as
possible..
Significance of the Study
This research will be of great significance in finding out the different impacts of
being financially stressed that may affect one's academic performance. It will also
help to address the financial burden, low grades, stress, anxiety, and depression
experienced by the student where the research will begin. As a result, this study
is being created to benefit the following:
Students. The study will benefit the students because they are the subject in this
research and they will also be taken to advise if financial stress has a negative
impact on their education.
Parents. This research will benefit the parents by knowing how to resolve the
financial
debt that their child is experiencing at school. This research will also help parents
to
State of the problem
1. What is the level of Financial Problem?
2. How do financial problems affect students' access to and utilization of
educational resources and materials?
3. Is there any significant relationships between financial problems and
academics?
4. What are the factors affecting financial decision-making of students?