WESTBRIDGE INSTITUTE OF TECHNOLOGY INC.

– SAN
MATEO

8 P Burgos St, San Mateo, Rizal

THE EFFECT OF FINANCIAL ISSUES TO THE

ACADEMIC PERFORMANCE OF GRADE 11
STUDENTS IN WESTBRIDGE INSTITUTE OF
TECHNOLOGY INC., AMPID

U2 Cristof A. San Juan

Antonette Ordinario

Rhezel C. Consigna

Mark Janrey Guerrero

Jhon Carl Barrientos

Ivy L. Pormento
 Menard Destajo

Jovi Mercader

CHAPTER 2

Research Design

This study is conducted using a qualitative method to encompass the effects of financial

issues on the academic performance of grade 11 students at Westbridge Institute of

Technology, Inc. Qualitative research consists of a more integral view of the topic and

gathers various data sources to procure deeper knowledge about the respondents, their

personal opinions, beliefs, and experiences.

The most fundamental characteristic of qualitative research is its express commitment to

viewing events, action, norms, values, etc. from the perspective of the people who

experience them in everyday life. (Bryman, 2004: p. 61)

The term “qualitative research” refers to an umbrella concept that encompasses many

different forms of inquiry and methodological practices. It engages a variety of

theoretical lenses, strategies, and techniques. Different from quantitative research, which

is based on probability and measurement (quantity), qualitative research is based on the

quality of the data generated to explain a phenomenon (e.g., why older adults would

resist using some kinds of mobility devices) (Gardner,2014).

‘Qualitative researchers seek to make sense of personal stories and the ways in which hey

intersect” (Glesne & Peshkin, 1992). As one qualitative researcher noted, “I knew that I

was not at home in the world of numbers long before I realized that I was at home in the

world of words.’

The data collected in qualitative research has been termed “soft”, “that is, rich in

description of people, places, and conversations, and not easily handled by statistical

procedures. Researchers do not approach their research with specific questions to answer

or hypotheses to test. They are concerned with understanding behavior from the subject’s

own frame of reference. Qualitative researcher believe that “multiple ways of interpreting

Experiences are available to each of us through interacting with others, and that it is the

meaning of our experiences that constitutes reality. Reality, consequently, is socially

constructed” (Bogdan & Biklen, 1992).

Subject of the Study

The study aims to examine how financial issues own affect the academic performance of

grade 11 students .financial issues refer to challenges or difficulties related to money,

such as economic hardship, limited access to resources or financial stress.

The findings of this study can provide valuable insights for educators, policymakers and

parents to better understand the impact of financial issues on student's academic

performance. It may also help in developing strategies and inventions to support students

facing financial difficulties and improve their educational outcomes

Sources of Data and Instrumentation

This research study sources of data are from various articles, journals, news, and research

works of others from the internet.

The researchers used qualitative method of research, formulating and conducting online

questionnaires, evaluation and interviews using Google and Messenger. This serves as

the researchers’ research instrument. This instrument is a multiple choice consisting of 15

questions.

To formulate the online questionnaires or interviews and the research problem,

researchers used different sources to gather information.

Research Procedure

Identify the research problem; The Effect of Financial Issues to the Academic

Performance of Grade 11 Students in Westbridge Institute of Technology Inc.,

Ampid. This research study aims to determine the effect of financial issues to the

academic performance of Grade 11 in Westbridge Institute of Technology Incorporated,

Ampid.

The data were collected through Conducting survey or interview or collecting data.

Analyzation of gathering data. Interpretation of gathering data. The validation of the

research instrument. The researchers searched for a Review of Related Literatures and

past studies to support their research study. After sorting its concepts, the conduct of

online questionnaires and interviews with selected students has begun.

The researchers finally found what they were looking for with the help of selected Grade

11 students answers.

REVIEW OF RELATED LITERATURES

The purpose of this research’s literature reviews and past studies is to explore the existing

research on the effect of financial issues on the academic performance of Grade 11

students. Considering and understanding the factors of financial stress that cause students

to be working students The selected Grade 11 students who are facing financial

challenges can significantly impact students’ academic performance and success.

Understanding the factors and mechanisms to sustain students’ needs is crucial for

institutions to develop support systems for these students.

Financial play an important role in students’ academic performance. Financial problems

are a serious issue that needs to be addressed as it leads to multiple stages of problems

such as health issues and academic performance. Dang and Bulus (2015) education is a

high-cost social service therefore insufficient financial support will be a problem for
students to enhance themselves in academics thus leading to poor academic performance.

Norazlan, N., Yusuf, S., & Mohamed Hamoud Al-Majdhoub, F. . (2020).

As the years pass, we encounter a lot of things where we use our money. We cannot

control the use of our money every day, everywhere or anytime we usually use it. Not all

the time we can maintain our treasures or money, that is why there is a possibility that

financial issues or simply financial shortage will occur. Here in the Philippines, we

already know that a lot of students stopped their studies and one of their reasons is the

lack of money, while some of them found a job and worked while studying to sustain

their personal and school needs. This research topic helps the student become aware of

its effect and also on dealing with it. This study was about the financial shortage usually

faced by a lot of students. This research topic helps the student become aware of its effect

and also on dealing with it. This study was about the financial shortage usually faced by a

lot of students. (2023)

Financial problems are commonly faced by everyone, especially for those who come

from underprivileged or low-income families. According to Asri, Abu Bakar, Laili and

Saad (2017), stated that although students do not have a commitment on paying monthly

debt instalments like other households, however, their status as students requires them to

pay their education fees, rents and other essentials, by which they received the financial

from loans, scholarships or their families. In addition, students who come from
underprivileged or low-income families might affect their academic performance.

Many past research has been done to show a relationship between financial problems

and the students’ academic performance. According to Olufemioladebinu, Adediran and

Oyediran (2018), the parent’s income or social status has positively affected the students’

academic performance in an examination. (Norazlan, et al., 2020)

Financial problem is a situation where money worries are causing stress. However,

college student has been facing financial problem lately and this problem had become a

major problem for college student. Financial problem faced by student are known as they

do not have enough money for their daily expenses, where money worries is causing

them to stress. After that, financial problems will bring impact to both mental and

physical health. According to Halliday Wynes, (2014), a student financial position will

affect their commitment in learning which will affect their academic performance. (2020,

March 18)

Financial anxiety is one of the most stress-causing factors, destabilizing students’

academic activities and performance. This study investigated whether there was any

financial anxiety in international students in higher education institutions by comparing

students in the USA and mainland China. The study employed a random-effect ordered

probit model that utilised a sample size of 3953 international students during the

academic years 2017–2019. The findings showed a significantly low rate of financial
anxiety among international students in the United States, while international students in

China experienced a highly significant financial anxiety as far as academic life was

concerned. Additionally, a robustness check using marginal effects in probit showed a

positive life satisfaction towards financial behaviour after the study period in the USA,

while a negative life satisfaction towards financial behaviour existed in mainland China.

Nevertheless, the study put forward vital recommendations to help address this

phenomenon and strengthen the relationship between international students and

administrators of higher education institutions in both countries. (Larbi et al, 2022)

Financial stress refers to anxiety or worry about having enough money to pay bills,

participate in activities with friends and peers, and meet basic needs and wants. And it

can be debilitating, especially for college students facing student debt and applying for

jobs after graduation. (Hayley, 2020)

Surveyed students reported high levels of financial and basic needs insecurity and mental

health challenges, which impacted academic performance and ability to focus on

coursework. They were not always aware of supports available from their institutions.

Despite the financial challenges present within higher education, 70 percent of

respondents believed the cost of college was a good investment for their financial future.

Student success outcomes: Stress related to finances and mental health challenges can
upset a student’s college career, pushing them to stop out. Approximately 48 percent of

students who had experienced financial challenges while enrolled agreed they had

difficulty concentrating on academics because of their finances. Among respondents,

nontraditional students, first-generation students and students with jobs were more likely

to have difficulty focusing on academics due to financial concerns, compared to their

peers. Students who indicated a major depressive disorder or generalized anxiety disorder

were also more likely to have difficulty concentrating on academics. (Mowreader, 2023)

Raymond Basilio, secretary general of the Alliance of Concerned Teachers, said “with

the continuing economic crisis that we are facing, which caused increases in the prices of

basic commodities and services, many Filipinos find it hard to send their children to

school.”

Data from DepEd on Sept. 14 showed that out of the 17 regions in the Philippines, only

Metro Manila saw an increase in enrollment—from 2.76 million to 2.77 million. Western

Visayas has the biggest drop—from 2.23 million to almost 2 million. The DepEd said

schools would still be accepting enrollees until the end of September. According to Rep.

France Castro (ACT Teachers), “we cannot allow any child to be left behind.” As Bringas

said, some students may have decided not to enroll this year, but stressed that the DepEd

will provide them with alternatives. (Kurt, 2023)

At this time some students are struggling with school expenses, and another problem for

students is lack of school equipment. And added two more years for senior high school,
and those students who want to work students but under age can’t work because they are

under age, and their parents can’t afford to educate their child due to a disability on

financial support. And if other students lack the financial support, they will be less

educated. (Alegre et al., 2020)

Globally, being financially stable became a serious matter when it comes to productivity

and creativity in Southeast Asian countries (Curan, 2013). In daily survival where such

circumstances occurs, the people tend to stop study and just work for daily living. They

don’t matters about degree anymore, as long as to overcome poverty (Salma, 2016).

Financial cognitive wellness has recently become a cultivating issue of interest among

researchers.

(Archuleta, Dale, Scott, Spann, 2013).In the Philippines, a scientific study conducted by

Gullas (2014), revealed recent studies about K-12 program implementation, that

considered as hardships in some of the Filipinos in terms of financial concerns as

determined as burden for another two more years of compensation. Furthermore, Only 18

percent of Filipinos considered themselves as “triumphant” financially (Diola, 2015)

One of the core principles of positive psychology is that character strengths buffer the

effects of adverse experiences on well-being. This study investigated whether external

locus-of-hope (LOH) moderates the effects of financial stress on Filipino students’ well-
being. Students from various universities answered questionnaires that included scales for

financial stress, internal and external LOH, and satisfaction with life; all the relevant

scales had good psychometric properties with the current sample. As expected, life

satisfaction was negatively predicted by financial stress and positively predicted by three

LOH dimensions. More importantly, external-family LOH moderated the relationship

between financial stress and life satisfaction; there was no negative relationship between

financial stress and life satisfaction among students with high external-family LOH. But

the results also suggest that financial stress moderates the relationship between external-

spiritual LOH and life satisfaction ; external-spiritual LOH’s positive relationship with

life satisfaction is found only among those who experience low financial stress. (Katrina

& Alan, 2018)

The literatures explored by the researchers are from various sources on the internet that

have provided a few studies on the effect of financial issues on the academic performance

of selected grade 11 students and higher levels. It shows the factors and how challenging

it is for students to be financially unstable. This becomes an impediment for them to

excel academically.

Researchers have collected various reviews of related studies regarding the effect of

financial issues on the academic performance of students.

What is the effect of financial issues to the academic performance of students? Based on

the findings, several studies will help to answer to the impact of financial issues on the

academic performance of students who belong to the state of the poor due to the lack of

financial resources.

Research has demonstrated a link between financial stress and poorer mental health

outcomes; for example, worry over finances has been correlated with mental illnesses

like depression and anxiety.8,9 Similar studies have also reported an association between

financial stress and general poor mental health. Andrea Moore, Annie Nguyen, Sabrina

Rivas, Ayah Bany-Mohammed, Jarod Majeika, and Lauren Martinez (2021)

A study of Deirdre Creedon (2015) The aim of this research study is to explore the

impact of perceived financial constraints of mature students on their academic and social

integration into Cork Institute of Technology. Using a mixed methods approach, online

student survey and one to one interviews were conducted with mature students to identify

the effect of financial hardship on their student experience. This research also focuses on

the ‘concern’ relating to financial hardship. Working class students face barriers and

obstacles that middle class peers do not face and many of these students expressed their

anxiety about being able to afford to study. Their research stated that working class

students felt that they were ‘disadvantaged’ compared to their peers, being less

academically prepared and therefore had difficulties integrating. (2015)

Financial plays an important role in students’ academic performance. Financial problems

are a serious issue that needs to be addressed as it leads to multiple stages of problems

such as health issues and academic performance. Dang and Bulus (2015) education is a

high-cost social service therefore insufficient financial support will be a problem for

students to enhance themselves in academics thus leading to poor academic performance.

This paper aims to identify the relationship between financial problems and academic

performance faced by public university students in Malaysia. (Ameena, 2019)

Many students are financially independent for the first time, resulting in an especially

stressful time for them.6 In fact, many university students. Studies have shown that

students who experience higher levels of financial stress are more likely to discontinue

their schooling than more financially secure peers. In these students’ perspectives,

financial stress impedes their ability to succeed academically. Another major theme is the

impact of finances on students’ social lives. Students experiencing financial stress find it

challenging to navigate relationships with wealthier peers, often leading to feelings of

isolation and embarrassment. This research study used qualitative type of research. It

focuses on a qualitative examination of the impacts of financial stress on college

students’ well-being: Insights from a large, private institution. Moore A, Nguyen A,

Rivas S, Bany-Mohammed A, Majeika J, Martinez L. (2021)

This study looks into the importance of financial satisfaction for students’ academic

achievement. It is arranged into three subsections. First, it discusses the various

definitions or importance of financial satisfaction, student aid, health aid, academic

achievement, and the general weighted average (GWA); second, it discusses some

literature and studies related to the topic title; and third, it looks at the relation between

two variables, which are financial satisfaction and academic achievement of students.

This literature study influences the importance of Financial Satisfaction for the Academic

Achievement of Students. The attainment of financial contentment significantly

influences the academic performance of college students. Mary B., Jocelyn C., Ruby N.,

& Darlene M. (2023)

A study that also refers to the financial lack that students face, making it difficult for

them to excel academically. 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).No

existing researches that has been conducted in local scope, the only available is the global

scope and national scope but they focused in funding and problem of the students. (Aljur,

2020)
These are the collected hypothetical studies related to the study of the effects of financial

issues to the academic performance of students. The Impact of Financial Issues on the

Academic Performance of Grade 11 Students in a Local High School, this study explores

the impact of financial issues on the academic performance of Grade 11 students,

focusing on a specific local high school.

The Financial Challenges and Academic Performance of College Students in a Local

University, this study explores the relationship between financial challenges and

academic performance among college students in a local university. Contains studies

about factors that can be an obstacle for students to save money for their daily expenses.

And also their University fees. This study examines the influence of financial struggles

on the academic performance of undergraduate students in a local educational institution.

And for the latter, Effects of Financial Stress on the Academic Achievement of Local

College Students, this research study determines the effects of financial stress on the

academic achievement of college students in a local setting, considering factors such as

financial aid and support services. Recommendations and aiming for a good result to help

students overcome financial stress.