Determinants of financial stress among university students and its impact on their performance

Abstract

PurposeTo identify the financial stress and associate factors of tertiary level student.Design/methodology/approachTo identify the financial stress and associate factors, a structured questionnaire was developed to collect data from 571 students of different universities of Bangladesh through Google form. Chi square and Cramer's V were applied to find the associated factors with financial stress of students, whereas ordinal regression was performed to evaluate the influence of the associated factors on financial stress.FindingsGender, living status, borrowing loan factors have positive association with financial stress. Tuition fee dues have significant positive association with financial stress. A student who has tuition fee dues feels 1.48 times more stress compared to student who does not have dues. Females were found less likely to be financially stressed (AOR = 1.536) than male students. Students who borrowed loans were more likely to have financial stress than non-borrowed loan groups of students.Practical implicationsResults indicate that financial stress has a strong impact on participation in different academic and personal activities of a student. Therefore, parents, university administration and student counselor should consider the factor to assess stress of a student.Originality/valueThis study identified factors responsible for financial stress of Bangladeshi students of tertiary level.

How do Student Leaders in a Teachers’ College Cope with Stress?

“…This particular study shows that a student's participation in various academic and extracurricular activities is impacted by financial stress. As a result, the component to assess students' stress should be taken into account by parents, university administration, and student counselors (Hossain et al, 2023). Stress has an emotional impact that may show up as anger or aggression, a sense of being out of control, insomnia, weariness or fatigue, sadness or sorrow, memory or concentration issues, or other symptoms (Racine, 2020).…”

How do anxiety and stress impact the performance of Chinese doctoral students through self-regulated learning?—A multi-group analysis

“…For example, Appel and Dahlgren (2003) conducted a mixed-method study to investigate the financial obstacles encountered by Swedish doctoral students in their doctoral programs. Furthermore, another study also discussed the importance of financial stress on university students' performance in Bangladesh (Hossain et al, 2022). Hence, prior literature has little discussion on anxiety and stress on doctoral students' performance through self-regulated learning, which needs to be explored in the present study.…”

“…The results indicated that their stress stemmed from mastering a new language and adapting to a new culture and academic environment. So, stress proved to be a source of the declined work performance of doctoral students (Ganley et al, 2021;Hensley et al, 2021;Hossain et al, 2022).…”

Academic Stress among College Students

“…Many students grapple with the weight of tuition fees, living expenses, and other financial obligations. Additionally, the constant comparison between the cost of their education and their academic performance can compound this stress (Hossain et al, 2022). Secondly, peer pressure, emanating from both neighbors and relatives, contributes significantly to academic stress.…”