Financial problems and academic performance among students in the Philippines
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Financial Problems and Academic Performance Among Students in the Philippines
Prevalence of Financial Problems and Their Impact on Academic Performance
Financial difficulties are a significant challenge for many students in the Philippines, with studies showing that between 9% and 23% of students experience financial problems to a moderate or very great extent. These financial issues, along with other personal and social challenges, explain a notable portion of the variance in academic performance, ranging from 19% to 36% according to statistical analyses. This means that financial stress is a key factor that can negatively affect students’ grades and overall academic achievement .
Food Insecurity and Academic Outcomes
Food insecurity, a direct result of financial instability, is widespread among Filipino students and is closely linked to poor academic performance. Students who struggle with food insecurity often experience increased stress, irregular eating habits, and poor sleep, all of which contribute to lower class attentiveness, reduced participation, and worse grades. Specific indicators such as the severity of food insecurity and limited food budgets have been shown to correlate with lower academic performance among university students in Metro Manila .
Financial Status and Academic Motivation
While financial status does have a statistically significant positive correlation with academic motivation, the relationship is weak. This suggests that although financial stability can provide a slight motivational boost, most students’ motivation comes from internal factors rather than their financial situation. Therefore, support systems that foster intrinsic motivation are important for students from all socioeconomic backgrounds .
Financial Constraints and Absenteeism
Financial problems are also a leading cause of absenteeism among senior high school students. Many students miss school because they cannot afford transportation or daily allowances. This absenteeism, in turn, negatively impacts their academic performance and future opportunities. Addressing financial barriers through targeted interventions, such as financial aid programs, is crucial for improving attendance and academic outcomes .
Socioeconomic Status, School Resources, and Achievement Gaps
Socioeconomic status is a strong predictor of academic achievement in the Philippines. Students from lower-income backgrounds often attend schools with fewer material resources and less favorable school climates, which further widens achievement gaps. However, socioeconomic status alone does not fully explain the differences in academic performance, indicating that other factors, such as school-specific investments and individualized support, are also important 48.
Financial Literacy and Student Well-being
Many Filipino students, especially those from non-business disciplines and lower socioeconomic backgrounds, lack basic financial knowledge. This deficiency leads to poor financial behaviors, such as inadequate budgeting and increased financial stress, which can further harm academic performance. Improving financial literacy through targeted education programs can help students manage their finances better and reduce stress, supporting both their academic and long-term success 57.
Conclusion
Financial problems are a significant barrier to academic success for students in the Philippines. These challenges manifest as food insecurity, absenteeism, and increased stress, all of which negatively impact academic performance. While financial stability can slightly boost motivation, intrinsic factors play a larger role in driving student achievement. Addressing these issues requires comprehensive support systems, targeted financial aid, and improved financial literacy education to help students overcome financial barriers and reach their academic potential 12345678.
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