FINANCIAL PROBLEMS OF STUDENTS WITH LOW INCOME PARENTS

A Research Proposal

Presented to the Faculty of

Senior High School Department

Damulaan National High School

Albuera, Leyte

In Partial Fulfillment of the Requirement for the Course

Varquez

Almira R. Tabudlong

Jay Ann P. Huete

Jigs L. Janson

June 2023

CHAPTER I

INTRODUCTION

Background of the Study

In the previous studies, Financial problem is a situation when money worries are causing stress.
However, Senior High Students have been facing financial problem lately and this problem had become a
major problem. Financial problem faced by students are known as they do not have enough money for
their daily expenses, where money worries is causing them to stress. After all, 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. Moreover, due to inflation and trade war, it had made
most of the country facing recession and increases the case of student facing financial problem.
Therefore, we have conducted a research too show the impact to Senior High School academic
performance of they don’t take time to manage their money and ways to solve it.

Experiencing financial stress is not unlikely among Filipino student, and government statistics suggest
that significant proportion of the school-age population experience financial difficulties starting at the
basic education level, almost 20% of Filipino children who dropped out school mentioned insufficient
financial resources as the main reason for quitting school (Philippine Statistics Authority, 2015). Dropping
out of school was most probable among 17-years old, particularly among those from the lowest income
families (Reyes, Tabuga, Asis & Mondez, 2015).

We hypothesized that financial stress would be negatively related to subjective well-being, or specifically,
life satisfaction of Filipino students. There are currently no published studies that show this relationship
with a Filipino sample. Orse recent study did not actually measure financial stress, but showed that
sense of poverty was associated with the experience of psychological distress among students (Reyes &
Yujuico, 2014). To assist in possible improvement of these difficulties that the disciples experiences,
researchers intends to understands ways on how to lessen the struggles of students who have low
income parents and gain knowledge. Statement of the Problem The purpose of this study is to
determine the affects of fuaving a low salary parents affects their children's academic performance of
Grade 11 Students of Damulaan National High School 5,Y 2022-2023. Specifically, this study aims to
answer the following question What are the ways to have the parents a higher income 2. What are the
pestle sequence that student can@hcounter in having a low parents? 1. What are the cause that
parents stays having a low income? 4. Why do some students take a part time job? 5. How does low
salary parents affect their chidren's academic performance?

Significance of the Study

This study evaluated the effectives of financial problems of students of senior high Damulaan National
High School with the hope that the finding will prove useful to the following:
This Senior High School Students, this study could benefit them in sharing their problems about the
challenges that they have experienced while learning. This may assist them in determining how to
overcome the test of financial problem in students, the teachers focus on how to address financial
problems in teaching and learning process.

The School Administrators, Through this study, school administrators will be able to analyze the
strengths, weakness, opportunities, and threats (SWOT). It could give schools a way to help and guide
the students who has financial problem.

DEPED; In line with its thrust to promote financial needs, the departments of Education (DepEd). Division
personnel will e acquainted of the things that should be regularly monitored for the effective
implementation of hoping students.

Future Researchers can use the result of this study as their guide or reference to conduct a study
pertaining to the financial problems of students. This study will give confidence to them to expand their
knowledge and skills in the field of education and the advancement of research process.

Scope and delimitation

Scope and delimitation:

This research aims to explore the financial problems that students with low-income parents face and
how they overcome these challenges. The scope of the research includes the following aspects:

1. Identification of the financial problems faced by low-income students, such as limited financial
resources, lack of access to scholarships, and difficulty in accessing basic needs such as food,
shelter, and clothing.

2. Examination of the impact of these financial problems on the educational outcomes of low-
income students, including reduced enrollment, increased dropout rates, and compromised
access to education resources.
3. Exploration of the strategies and methods used by low-income students to overcome these
financial challenges, including employment, financial aid programs, and alternative funding
sources.

The delimitation of the research includes the following aspects:

1. The scope of the research is limited to low-income students in higher education institutions in
the Philippines.

2. The research focuses on the personal experiences and perspectives of low-income students,
rather than data generated through surveys or other quantitative methods.

3. The research does not include a comparative analysis of the financial problems faced by low-
income students in other countries.

Overall, the scope and delimitation of this research seek to gain an in-depth understanding of the
financial challenges faced by low-income students, their impact on educational outcomes, and the
strategies they use to overcome these challenges.

Definition of berms

Financial Problem faced by student are known as they don’t have enough money for their daily
expenses, where money worries causing them to stress

Financial stress- A state of worry or mental tension caused by a difficu situation in financial.

Academic performance is the extent to which a student, teacher or institution has attained their
short or long-term educational goals.

Expenses- the cost required for something; the money spent on something Unessential that may
lead to financial problem

Dropping out-refers to leaving the school because of having not enough financial
Debt-the amount owned by the borrower to the lender because of struggle in financial.

Financial anxiety- is an obsessive fear of things related to money than can often be debilitating.

Overspending-can lead to financial stress, taking on high interest credit card of personal loan debt,
and other problems.

Unemployment is when an individual who is not employed and is seeking employment, cannot find
work.

Resources A stock or supply of money, materials, staff, and other assets that can be drawn on by a
person or organization in order to function effectively.

Chapter II.

REVIEW OF RELATED LITERATURE AND STUDIES

This chapter presents the related literature and studies which covers the study of the mpact fiandal
problems of studerm with low income parents where part of severa iterature materials will be
shown to tuly understand the research to be done

According to feline Austria (2016), financial problem is a station where my womnes are causing
individual stresses. Many people are facing hard financial times and the impact on mental health,
academic perfomance or motivation can spificant. This includes wonying a lot or feeling artsious over
money, arguing with loved ones, headaches, feeling unwell, emosty in sleeping, feeling qulity
spending money on non-essential, ariety, stress, and even falling grades in school

Typy financial problem of students is they don’t take the time toss before they reach an excess in
credit card debts. Many students who are out on their o for the first time may get caught up in a
cycle of overspending that comes with ating out buying new clothes or partying. This can become
way expensive quickly and as result, it can increase overall debt. To avoid unnecessary expenses
follow a budget in which you pay your necessary expenses first and save yourself a specific amount
of your income for entertainment, then stick up that budget. Try cost saving ideas such as watching
Movies at home, cooking your own meats regularly and buying clothes from discount stores
(McDaniel, 2018) According to verstraette, financial problem is the main cause of students enrolled
in college to dropout. About 30% of Quebec university's student population dropout due to financal
problems. It has been established that financial problem cotibute to dropping out, but it car how
different methods for fanong postsecondary education influence persistence and academic success
in university According to bayer, a casual observation is that the children of affluent parents money
to succeed in life than the children of poor parents probably because the nich parents spend more
than poor parents on ther children and these instruments lead to better outcomes for their children
if the situation is correct, the author and suggested that government can improve the fe chances of
poor children by providing families with this means to make the investments or by providing the
investments directly in the form of schooling, health care, and other human capital inputs. It is not
out of place to imagine that part socio-economic background can have possible effects on the
academic achiever of children in school. In the society today, it is normal for a collage student to live
athout saving any money. But, they did not aware that accidents could happen at any time. When
accident happens, they could not pay for the emergency expenses since they do not have any money
insides ther sanang account, and they have to pay with their credit cards and adding debt to their
account. (Maureen, 2019), Mentioned that the fest reason people get into depth is because they do
not have a saving account When a collage student is having an ongoing financial stress it win affect
their personal life such as sleep problets where they worry about their financial statue and would
not fall into sleep financial problems will also affect colege student mental health such facing
depression and arooiety according to Tomas Richardson there is a strong relationship betwem
financial problem and depression

Many governments have adopted a policy of soding to increase the number of stulent entering
higher education and to finance this expansion by transfering costs from the state to the individual
some policy has been pursued with relatively the concern for the impact that the inces francial
bunden may have in student according to vina Fuerte (2015) many student are coping with their day
to day ving cots more confortable than they had expected

Poor financial management is one of the main causes of financial petalen among students. According
to Alan Greenspan, the number one problem in today-generation and economy is die lack of fencial
iteracy. Most studeme send to fail manage their money(matte). These problems are common among
students who are for those students who trid to spend a nut for thee wants and not for their nee

Heary borrowings and a lack of saving hatit have been blamed for the financial problems the
Filipinos are facing in the chiultry and abroadthical 2015). The has one of the fastest growing
economie in the present, giving the people the chance to have more finance power than before
However, all these will only go to waste we do not understand how money work and what are the
consequenc of having bad money habits, this leading to financial problems (Go2017).

There is a large body of research that has examined the financial struggles faced by students from
low-income families and the impact of these struggles on their academic performance and personal
well-being. Here is a brief discussion of some of the related literature:

1. “Financing Higher Education: The Challenges for Low-Income Students” (2016): This publication
provides a comprehensive overview of the financial challenges faced by low-income students,
including the impact of limited access to financial aid, the need for part-time work to cover living
expenses, and the challenges of affording college-related expenses such as textbooks. The
publication concludes with recommendations for policy change to support low-income students in
pursuing higher education.

2. “Financial Stress and the Life Course: Evidence From the National Longitudinal Study of Youth”
(2019): This study investigates the impact of financial stress on a range of outcomes, including
academic performance, social relationships, and mental and physical health. The study finds that
financial stress is a significant predictor of academic performance and other positive outcomes,
suggesting that addressing financial difficulties may be an effective strategy for improving academic
outcomes and other aspects of student life.

3. “The Financial Struggle Of College Students: A Study Of New Student Disclosures” (2016): This
publication investigates the financial circumstances and struggles of incoming students at a large,
public research university in the United States. The study finds that many students face significant
financial challenges, including limited access to financial aid and the need to work part-time to cover
living expenses. The study concludes with recommendations for university administrators to address
the financial struggles of their student body.

4. “Financial Instability Among College Students: Implications for Academic Performance and Career
Development” (2015): This publication explores the interrelationships between financial instability
and academic performance and career prospects. The study finds that financial instability can
negatively impact academic performance and career prospects, suggesting that addressing financial
challenges may be an effective strategy for improving academic outcomes and other aspects of
student life.

These are just a few examples of the many studies that have investigated the financial struggles
faced by students from low-income families and the impact of these struggles on their academic
performance and personal well-being.

METHODOLOGY

Research Resign

This study will use a phenomenological research, Through approach to explore and understand the
everyday life of students who has low income parents, their feelings are going to be explored
through descriptive phenomenology.

Population and Sampling

The study population will comprise of 15 students who has low income parents in Damulaan Senior
High School. The researchers will purposively select individuals whole struggling in financial problem
because hering low-income parents.

Sources of data

There are several sources of data that can be used to study the financial problems faced by students
from low-income families and their impact on academic performance and personal well-being. Some
of the sources of data that can be used include:

1. Government databases: The Department of Education and other federal agencies collect and
analyze data about the finances of students from low-income families, including information on
financial aid, student debt, and employment after graduation.

2. Surveys and interviews: Surveys and interviews can be used to collect qualitative and quantitative
data from students directly, including information on their finances, academic performance, and
personal well-being.

3. Financial aid records: Financial aid records from colleges and universities can be used to collect
information on the financial situation of students from low-income families, including information on
their income level, education level of their parents, and their ability to cover educational and living
expenses.

4. Research articles and reports: Research articles and reports

from academic institutions and other organizations can be used to collect secondary data and
provide a comprehensive picture of the financial struggles faced by students from low-income
families.

5. Online forums and social media: Online forums and social media can be used to collect data on
the experiences of students from low-income families and the challenges they face, including
financial difficulties, academic performance, and personal well-being.

By using a combination of these data sources, the researcher can obtain a comprehensive
understanding of the financial struggles faced by students from low-income families and their impact
on academic performance and personal well-being.

Data Analysis
The researchers will collect possible answer and guise the surveys. The data will be analyzed through
five processes: (1) all the results of the survey will be read thoroughly to gain an understanding: (2)
each written summary will be summarized: (3) relevant parts of the survey will be selected: (4) the
interpretation will be reviewed: (5) the general meaning will be identified. The textual descriptions
that will be in the qualitative study include: (1) use if the categories mentioned by each participants:
(2) survey results: (3) use of varied results from each participant: (4) narrative of story and (5)
established keywords found based on the interpretation of the researcher and the participants.