There are so many issues they have to deal with- study, time, money, relationships, job hopes, and more. Change ), You are commenting using your Facebook account. This is also a major factor reducing education in this present age.many people are just o’level certificate holders and they can’t even further because of money and the ones who will further would have to do a partime schooling..there should really be a re amendment of the educational policy on fees,so that all can havee the opportunity to be grradutes.AGHEDO PRECIOUS .M. Written by,jacob enayon s. The governments should try and support the educational sector financially.at Enayon Jacob, You are right,we just have to God to help us solve economic problem which results to financial problem, its only God that can help us…..by Ajibogun Mayowa Sarah, You are right,we just have to pray to God to help us solve economic problem which results to financial problem, its only God that can help us…..by Ajibogun Mayowa Sarah, Students are really facing a lot through financial problems.may God deliver us nice article by ibrahim zainab abiola, The most challenging part of education is the financial aspect. Students from families with greater financial resources tend to be substantially more financially literate than those from families that are less well-off, thereby exacerbating the inequality of economic welfare … Students too may find little thing to do to earn money which will not affect their studies in order to assist their parent because government policy cannot favour everybody. Only 17 states require high school students to take a course in personal finance. “Financial stress is, like many others, a significant stressor, not only among students but also working professionals. Not Taking Advantage of Financial Aid. Change ), You are commenting using your Google account. Parent’s previous experience and education does not always equip them in dealing with such pressures. Students' knowledge of the financial aid process is "shockingly low," according to a new study by ACT, which surveyed roughly 1,200 high school students last year. God’s favour is what we need.keep it up. family problems, work and financial, social and other problems. Parents should help the children to achieve their academic goal by giving them financial support. This situation has i suppose have a negative effect on student’s performance and achievement. ( Log Out / Your Debt Consolidation Alternative. Don’t worry though; there are a number of different financial options that provide assistance for students allowing them to overcome their financial difficulties: By not applying for financial aid, which comes in the form of … The reason for this is that many authorities believe that any student who is in such schools does not necessarily need this information. Ajayi Ropo, Although education is free to a substantial level in most countries but the fact remains that poor parents will still not be able to send their children to school because of lack of provision of school materials for their children’s use. If you are already in debt, another priority goes to contacting … Thanks Awolola Oladimeji, Well said, issues of students dropping out of school or not been able to go to school at all due to lack of finance should really be looked into, I believe everyone has right to education cause education Į̸̸§ key. Consolidate credit bills into one easy monthly payment; What is the contributions of government to help this problems. With the recent economic downturns in major markets all around the world, it has become evident that more needs to be done in order to survive financially. Many students who are out on their own for the first time may get caught up in a cycle of overspending that comes with eating out, buying new clothes or … Seun, Finance is one problem that has rendered most youths with the zeal of been educated useless, the government should really look into the issue of also making the poor have right to education. Even something as simple as sending them to a high school financial literacy workshop can help them avoid the monetary problems their peers likely will face. FINANCIAL PROBLEMS FACING THE EDUCATION OF STUDENTS. Paying for College. Adeleke Peter, Nice write up.The government should reduce the tuition fees of schools. In South Carolina, the Financial Literacy Instruction Act (SC Code Ann. I am also facing the problem too. However, in the current society, such assumptions are not valid. The NFEC is a social enterprise organization committed to creating a world where people are informed to make qualified financial decisions that improve their lives, the lives of their loved ones, and the lives of people they impact around the globe. It is a time of great opportunity, but with it comes many dangers. This malady or problems has destroyed many peoples life. Nice write up. Thanks Kareem Abiola, Nice. The increase in the cost of higher education, the decrease in the real median income, and the increase in student debt are all current problems that are often discussed not only by students and parents, but also by political leaders and economic policymakers. Students are struggling to connect in districts large and small. Therefore, you should not find it hard to convince the management committee initiate a personal financial literacy program. This is one of the problem affecting student (financial constrain). Despite the bad rap that student loans are getting in the wake of a flood of stories about students graduating tens of thousands of dollars in debt, “the evidence is still pretty clear that borrowing is a better strategy than working full-time and going to school full-time,” he said. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. i believe it would go along way to heal every misconception in our educational sector. Many students assume that the only way to pay for college is by using student … Mastering the foundations of financial literacy is the best way to set them up for a life full of healthy financial habits, ensuring their future success. The results indicate that there is an effective financial education among young high school students, which can be noticed in findings such as: some of the young are not obliged to explain to parents where they are spending their financial resources; students have acquired, largely, their financial knowledge with parents and relatives, and in day-to-day practices, but there is little dialog in the family on financial matters. Start Online or call (800) 565-8953. The problem with securing a loan is the expected rate of return. (South Carolina Legislature, 2005) Section 59-29-410) includes the preamble: “so students have reduced risk for financial failure after high school.” However, new courses could crowd out other learning objectives in resource-constrained schools. The early phase of development is the best to inculcate some of these qualities, since this way they can be retained for life. Let’s face it – most people don’t have a spare couple of grand under their bed. Los Angeles said last week that about a third of its high school students were not logging in for classes. However, you will be able to rest in the knowledge that you would have equipped them with all the tools they need to live a successful life. Education is now cost that without money one cannot get it. Harb and El-Shaarawi (2006) found that the most From day-to-day expenditures, to the cost of tuition, to the repayment of loans; students have new financial obligations they have not experienced in the past. It's not a loan. Financial problems has caused a lot of effect on the educational sector, the increase exorbitant cost formal education constitute the major excuse most parents or guardians gives for not educating or withdrawing their children and wards from school to learn a trade, they do not bother to put or contribute their money in the education of their children. Good article. Research studies shows that students’ performance depends on many factors such as learning facilities, gender and age differences, etc. the students who is involved in their own life career also should never miss this capsule of truth. Copyright 2020 National Financial Educators Council |, Local & Virtual Financial Education Events, Personal Finance For High School Students – Importance & Lessons. One issue that is normally glossed over as far as high school education is personal finance for high school students. By Tijani Babatunde, The article is nice.Only God can lead us through in this nation. Especially tertiary institutions. They fail to do the management and flow of their money. However, above many facts,this has discouraged parents from wanting to send their children to acquire education at all . The concern revolves around how poorly prepared and ill-equipped students are after graduation from high school to manage their finances as adults without getting into trouble. Badmus Aramide, You are right. that can affect student performance (Hansen, Joe B., 2000). Great,this is really what is affecting the educational system in nigeria and our government need to help us out. Earlier Opportunity to Learn. Some students for financial reasons could not pay attention in the class, rather they would be thinking of how to get money to buy their practical materials, handouts e.t.c in most institutions today, we have many ladies going into prostitution for financial purposes, since they do not have other means of getting money. If you insist on having your child gain this information, you may not reap the fruits of your labor in the short term. For majority students, it is the first time they have experienced financial independence without parents supervision. 1.2 PROBLEM STATEMENT Research on financial literacy among university students has encountered a lot of challenges. Doris, at this point in time, already knew one thing for sure: this group of students was inexperienced in personal finance. When a child grows up without any instruction how to manage his or her money, it becomes very difficult to suddenly expect them to learn these skills when they grow up. It is often believed that they can easily gain the information from higher institutions of learning or through experience. I pray God will help us. Change ). Studies show that students without a financial education are more likely to have low credit scores and other financial problems. Femi Omowumi. Change ), You are commenting using your Twitter account. i hope the teacher’s mind would be awakened to these reality of truth, and our parents a knot of knowledge. Making sure that your child learns about the basics of financial management at an early age ensures that they grow up to be responsible with their money later on. In fact, by not providing this information for your child at a tender age, you may end up making them not excel financially in future. Just a way out of debt. One issue that is normally glossed over as far as high school education is personal finance for high school students. Providing financial literacy for students is a critical piece in the overall education puzzle that can have lasting benefits. Financial literacy education in schools may look like: Provide teachers with support and training to teach the skills needed They do not have the skill to manage their own money. Technorati reported last fall that 22 percent of the children in the U.S. live at or below poverty level. FINANCIAL MANAGEMENT ISSUES 2 establish an identity. The reason for this is that many authorities believe that any student who is in such schools does not necessarily need this information. One of the reasons why this is so is that by making children learn these things early, they can practice them more effectively later in life. Naturally, stress varies across different demographics such as year in school, school type and major, but a recurring theme of financial stress is an ongoing issue. Our leaders are no where to be found. Students all over the world face a number of problems which dishearten them. American Graduate defines poverty as a family of four with an annual income level of $23,050 or lower. Moreso, some students whose studies are going smoothly suddenly fall victim of half education because of their parents or guardians who go through financial crises or they could even lose them and that could make them stop their education. Financial problems has caused a lot of effect on the educational sector, the increase exorbitant cost formal education constitute the major excuse most parents or guardians gives for not educating or withdrawing their children and wards from school to learn a trade, they do not bother to put or contribute their money in the education of their children. The impact of the literacy problem is also felt by the student’s family. If you teach your children how to manage their assets, they can then protect themselves from most economic problems in future. True talk,this is indeed a nice write up. High school is a critical time for students to develop the personal finance skills they will need to live independently as adults. Bassey Comfort Ben, This is true girl because i can tell you that i am also going through financial problem which is affecting my education seriously but i thank GOD that i am overcoming it.olayiwole tobi, Nice write up,government should please play their own part in supporting the educational sector financially.sunday susana osas, Yes o this is the biggest problem that am facing in school and it has gotten to the extent that my parent do not pick my calls again.awolude oluwatoyin, Yea,that is the major problem we are facing. I pray God almighty will provide for our parents and guadians to meet our needs. This is what most parents want for their children. Is, like many others, a significant stressor, not only among but... School students do not operate or live in a vacuum knew one thing for sure: this of! Information, You may not reap financial problem of high school students fruits of your labor in the Current society such. 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