Factors Influencing Parents’ Awareness of Children’ Education Investment: A Systematic Review

Abstract

Parents’ awareness of the importance of education greatly influences decision-making on educational extensions for children. Because more and more parents are aware of the importance of education in supporting the survival of children in the future, parents will be more aware of expanding education to a higher level for the benefit of the children, the environment, and the future. The objective of this study is to identify the factors that influence parents’ awareness in investment decision-making for children’s education. To address this issue, we use Cooper’s approach combined with the prism method, which offers a methodological framework and reporting procedure for the current review. Six main factors have emerged to answer the objective of this study, namely out-of-pocket expenses, forgone earnings, returns on investment, educational design, educational process, quality of education, and competitiveness. These findings show that decision-making for education transfers is not only seen from the side of government policy but also from the family side, illustrating the need for continuous synergy between the government policy and parents’ awareness of it, so that the improvement of superior human resources through education continues optimally.

Exploratory factor and reliability analyses of educational awareness of educational investment

“…This finding is in line with the results of past research whereby parents must be able to know the talents and interests of their children (Bai et al, 2020;Chung & Lee, 2017;Hargreaves, 2021;Nakagawa et al, 2021;Sellami et al, 2019). Parents should also adjust courses and educational institutions that can increase their children's potential and not impose their will on the programme to be pursued (Wati & Sahid, 2022).…”

“…Meanwhile, past studies have demonstrated the instability of parents' decisions to invest in education at a higher education level, as indicated by the data of gross participatory figures (APK) over the past 5 years (2017-2021) in 2017 (112.72%), 2018 (113.24%), 2019 (109.47%), 2020 (109.01%) and 2021 (115.26%) due to several influencing factors, one of which includes the family factor. This is inversely proportional to the results of research, which states that the family is the main determinant of decisions at the last level of education that must be taken, because one of the factors that affect education investment is internal factors derived from parental decisions (educational planning, educational process, quality of education and competitiveness) in supporting the maximum education (Wati & Sahid, 2022).…”

“…Therefore, to answer these problems, in the context of this study, we focus specifically on analysing the instruments of educational awareness that parents use to make decisions about investing in education, through exploratory factor analysis (EFA) and also reliability. This is important to do because the construct of educational awareness owned by parents is a new construct in measuring education investment (Wati & Sahid, 2022), so it is necessary to make concrete measurements to see the relationship or correlation between items or aspects of the construct of educational awareness and educational investment. In addition, it is also necessary to conduct an analytical test to see the reliability of the indicators of the educational awareness construct and educational investment that will be used in collecting research data.…”

Instrumental Rationalization or Value Rationalization: Which Has More Influence on Parents' Investment Decisions in Education

“…This means that the results of education investment or the rate of return they will get are not always in the form of a sum of money and interest adjusted to the amount of money they have invested at the beginning, but the returns they can receive from the results of this investment can be in the form of funds derived from children's income when they have got a job or not money such as developing their potential. This is following the results of research which states that investment in education provides a higher rate of return than other types of investment because education investment can offer better value in increasing individual productivity in the future (Becker, 1993;McConnell et al, 2016;Psacharopoulos & Patrinos, 2018;Wati & Sahid, 2022).…”

The Influence of Demographic-based Factors on Parental Educational Investment Decisions

“…In recent years, the deep involvement of parents in their children's education has become a social phenomenon that has attracted much attention, and parents' educational involvement behaviour has become a major issue that needs to be studied in depth by academics (Heckman & Letkiewicz, 2021;Wati & Sahid, 2022). Family education is the foundation of all education and has a significant impact on educational justice and the quality of future citizens (Molla & Pham, 2019;Ocampo-González, 2019).…”