Financial Well-Being of Students at Higher Education Institutions

Abstract

The study investigated the relationship between financial well-being of students and grade point average (GPA) scored. The study adopted sequential explanatory design. A sample size involved 151 respondents; that is, five deans of students and ten non-academic staffs purposively sampled, 36 academic staffs (AS), and 100 undergraduate students. Data was obtained using stratified and simple random sampling techniques. Research experts determined content validity of instruments. Reliability for AS questionnaire (0.877) and students' questionnaire (0.777) was established using Cronbach's Alpha method. A statistically significant relationship (R =0. 762, R2 =0.581) between financial well-being of students and GPA scored was found. Increase in financial support to students was recommended since students facing financial hardship are more likely to drop out or score a low GPA.