Faculty
Department
Year of Publication
upload
Publication Type
Abstract
Financial stress among undergraduate students in Nigerian higher institutions has
emerged as a significant barrier to academic success and overall well-being. This study
investigated the impact of financial stress on students' academic achievement at the
University of Benin using a descriptive survey design. The study population comprised
undergraduates from the University of Benin, with a sample size of 150 students, selected
through simple random sampling across five major faculties. Data were collected using a self-administered questionnaire titled "Financial Stress and
Students Academic Achievement" (FSASAA) consisting of 25 items. The instrument's
validity was established through content validation by experts, and its reliability was
determined using the test-retest method, achieving a Pearson Coefficient of 0.78. The findings revealed that financial stress significantly affected students' academic
performance, with a substantial proportion struggling to pay tuition fees, afford daily
needs, and access required educational resources. Factors contributing to financial
stress included budgeting challenges, the need to pay tuition fees independently, supporting family financially, and unexpected expenses. The study further highlighted the detrimental effects of financial stress, including
absenteeism, poor concentration, adverse mental and physical health impacts, and the
temptation to engage in examination malpractice. Potential solutions identified included
providing access to scholarships and financial aid, flexible tuition payment options, financial management workshops, and the availability of part-time jobs on campus. The study underscores the urgent need for comprehensive interventions and support
systems to address financial stress among undergraduates, ensuring equitable access to
higher education and promoting academic success and overall well-being.
emerged as a significant barrier to academic success and overall well-being. This study
investigated the impact of financial stress on students' academic achievement at the
University of Benin using a descriptive survey design. The study population comprised
undergraduates from the University of Benin, with a sample size of 150 students, selected
through simple random sampling across five major faculties. Data were collected using a self-administered questionnaire titled "Financial Stress and
Students Academic Achievement" (FSASAA) consisting of 25 items. The instrument's
validity was established through content validation by experts, and its reliability was
determined using the test-retest method, achieving a Pearson Coefficient of 0.78. The findings revealed that financial stress significantly affected students' academic
performance, with a substantial proportion struggling to pay tuition fees, afford daily
needs, and access required educational resources. Factors contributing to financial
stress included budgeting challenges, the need to pay tuition fees independently, supporting family financially, and unexpected expenses. The study further highlighted the detrimental effects of financial stress, including
absenteeism, poor concentration, adverse mental and physical health impacts, and the
temptation to engage in examination malpractice. Potential solutions identified included
providing access to scholarships and financial aid, flexible tuition payment options, financial management workshops, and the availability of part-time jobs on campus. The study underscores the urgent need for comprehensive interventions and support
systems to address financial stress among undergraduates, ensuring equitable access to
higher education and promoting academic success and overall well-being.
Supervisor(s)
co-supervisor