FINANCIAL STRESS AND UNDERGRADUATE STUDENTS ACADEMIC PERFORMANCE: A CASE STUDY OF UNIVERSITY OF BENIN

ABSTRACT

This study investigated the impact of financial stress on under graduate students’ academic performance in the University of Benin. The study aimed at exploring the effects of financial stress factors on students’ academic performance and the financial stress factor that contributes most to undergraduate students’ academic performance. The study also investigated the relationship between financial stress and undergraduate students’ academic performance in the University of Benin. The descriptive survey design was adopted for the study. The population of the study consisted of six thousand four hundred and thirty five (6,435) students from the eight (8) departments, in the faculty of Education, university of Benin. A sample of three hundred and twenty two (322) students from the department of educational management in the faculty of education, University of Benin. The research instrument used to gather data for the study was a Questionnaire titled "Impact of Financial Stress Questionnaire (IFSQ)". Data collected were analyzed using the descriptive statistics (mean and standard deviation) and research questions answered using he mean statistics. Hypothesis was tested using the Pearson’s product moment correlation formula. The findings revealed that financial stress factors to a high extent contribute to undergraduate students’ academic performance. The findings further revealed that the financial stress factor that contributes most to undergraduate students’ academic performance is Economic factors. It was concluded that financial stress has a significant influence on undergraduate students’ academic performance.