Challenges In Balancing Academic And Financial Responsibilities: A Student Perspective In Higher Education In Pakistan

Abstract

This study employed a mixed-methods approach to examine the difficulties encountered by higher education students in Pakistan when managing their academic and financial responsibilities. The quantitative aspect of the study consisted of administering the Student Financial Stress Scale (SFSS) and the Academic Stress Scale (ASS) to a sample of 400 students from five prominent universities in order to assess their levels of stress. Descriptive statistics, correlation analysis, and regression analysis were utilized to identify significant stresses and determine their influence on academic achievement. The qualitative component comprised of conducting in-depth interviews with a total of 40 students. These interviews were then analyzed using theme analysis to gather comprehensive insights into their experiences and coping methods. The results unveiled a notable and positive association between financial stress and academic stress, with financial stress emerging as the most influential predictor of academic stress. Students experienced significant financial difficulties, including exorbitant tuition fees and living expenditures, which had a detrimental effect on their academic performance. Common coping techniques included the use of effective time management, seeking help, and prioritizing work. The study emphasizes the necessity of financial assistance programs and academic support services to lessen the pressure on students, improve their academic achievements, and offer practical suggestions for policymakers and educational institutions.