HOLY ROSARY ACADEMY OF LAS

PIÑAS CITY
St. Joseph Ave. corner Naga Road, Pulanglupa Dos, Las Piñas City, 1740

CHAPTER 1

Negative Impact of Financial problem in choosing College courses

This chapter consists of Introduction, Statement of the Problem, Theoretical Framework,

Conceptual Framework, Scope and Delimitation of the Study, Significance of the Study and the
Definition of Terminologies.

INTRODUCTION

There’s a lot of problems involved in choosing college courses, nevertheless we

researchers wanted to focus on how finances affect some students in Grade 12 STEM students of
Holy Rosary Academy of Las Pinas City in choosing their college courses. When we say
financial problems, we all can relate with this particular problem, right? STEM involves students
who wants to study medicine and students who wants to be engineers. This research aims to
know how finances affect some students to choose their college courses. Financial burdens may
lead a student to have trouble in choosing college courses, and the high frequency of some
studies about finance are related to nursing students in the Philippines, studying medicine and
engineering are expensive to take. (Daud, N., Norwani, N. M., & Yusof, R. (2018), Onur Mutlu
Yaşar1, * & Murat Turğut1 (2020).) are just a few examples of research topics related to
financial problems to the students. These two- research topics discussed different effects of
finances; these studies estimated how finance affects students especially the Senior High School
students since they are the salient participants in this kind of study.

Students face issues such as being unable to cope with the high academic standards, as
well as trouble paying fees and obtaining basic necessities. Some students come from low-
income homes; the majority of students struggle to make ends meet. According to Asri, Abu
Bakar, Laili, and Saad (2017), while students do not have the same obligation to pay monthly
debt installments
As other households, their status as students requires them to pay their education fees, rents, and
other essentials, for which they received funds from loans, scholarships, or their families.
(Norazlan, N., Yusuf, S., & Al-Majdhoub, F.M.H. (2020))

Furthermore, for the exploration of the study we want to use the qualitative as our method to
determine the perspective of the chosen participants in Grade 12-STEM on how finance
problems can affect them to choose their desired courses in college. For the better background of
our study, our objective is to aim the perspective of every chosen participant in Grade 12-STEM
on what are the negative impacts of financial problems to them. We also want to explore how it
affects them to choose their desired courses. Students in higher education require more money to
cover the cost of study and living in universities as higher education costs in public and private
educational institutions are on the rise. Education is a high-cost social service, insufficient
financial support will make it difficult for students to choose their college courses. As a result of
limited financial resources and rising cost of education, there may be students struggling with
financial problems in their daily lives. (Norhaslinda Daud, Norlia Mat Norwani and Rohaila
Yusof)

This study will conduct the Statement of the Problem, to be followed by the Theoretical
Framework, Conceptual framework, Significance of the Study, Scope and Delimitations and the
Definition of Terminologies.

STATEMENT OF THE PROBLEM

The goal of this study is to determine how financial problems affect Holy Rosary
Academy’s Grade 12-STEM students to choose their college courses.
General problem:
This study aims to determine and analyze how financial problems affect the Holy Rosary
Academy's Grade 12-STEM students to choose their college courses.

Specifically, this study wants to aims the answer of following questions:

Specific Questions:
 1. How does financial problems affect the Grade 12-STEM to choose their college courses?
2. How financial problems prevent respondents from choosing their preferred course?
3. What is the possible solution to address this financial problem for the respondents to
choose their desired course?
4. Why do they require sufficient funds to pursue their desired course?
5. Why do respondents base their course selection on their financial situation?

THEORETICAL FRAMEWORK

One of the most essential and difficult decisions a student will make after completing secondary
education is deciding which course to pursue in college, as there are numerous factors to consider. There
have been various theorists and researchers who have done studies or theories that are linked to the matter
that we will be studying. This study is supported by the Risk Theory investigated by Amos Tversky,
Daniel Kahneman, and Paul Slovic. They started to investigate the ways in which people make decisions
under uncertainty or risk. Risk theory attempts to explain the decisions people make when they are faced
with uncertainty about the future. In others, uncertainty can make the difference between whether or not a
person should take an action at all. Those cases are the ones in which risk theory is used. The theory
predicts a decision based on the distribution of possible outcomes. The said theory is important for those
who make decisions whose success is dependent on the outcome of the risk they took. For example, those
students who are having difficulty selecting college courses because their future depends on it. "The
course selection decisions of students are among the most defining in the success of their learning." -
Dennis Zocco.

Most students pursue a major based on their educational capabilities (Beggs et al., 2008). The
majority of today's students are more interested in the amount of money they can earn. There are,
nevertheless, a handful of students who pursue their dreams and aspirations (Mcglynn, 2007). Some
students have the interest in working in any labor-intensive field, but they lack the intelligence to do the
duties required in that field (Beggs et al., 2008). According to studies, students will choose a degree that
they believe will best suit their personality type (Mihyeon, 2009). Students' majors are influenced more
by their family role models (Wildman and Torres, 2002). Parents and friends play an important role in
most cases, but coaches and teachers can also have a strong influence on a student's life (Wildman and
Torres, 2002). Students whose parents own and operate small businesses may want or feel obligated to
follow in their parents' footsteps (Zody et al., 2006). When students are considering a major or career
path, they look for
occupations with greater compensation or degrees with the best employment stability (Wildman and
Torres, 2002).

CONCEPTUAL FRAMEWORK

IV- DV MODEL (Independent variable/ Dependent Variable model)

FINANCIAL PROBLEM > CHOOSING COLLEGE COURSES

● Lack of money • Inability of having decisive

course

● Personal expenses and necessity • Problems of choosing consuming courses

• Compel choosing unwanted course

This presents the conceptual framework of our title, and consists of 2 major variables. Financial
Problems for Independent Variable, and on the other side choosing college courses for Dependent
Variable. Financial Problems (IV) consist of lack of money and personal expenses or necessity. It pertains
to financial problems that Grade 12 are now facing. Having financial problems prevent students from
choosing courses that they like. On the other hand, on Dependent Variable, it concerns Grade 12 student's
inability of having decisive courses, problems of choosing costly courses, and compel choosing unwanted
courses. Financial problems affect Grade 12 student's ability to choose their college courses due to lack of
funds for their study. Both IV and DV have their own different effects on Grade 12 students which causes
doubts to each and everyone's self- confidence. Hesitation is also a part of choosing college courses
hindrances wherein some Grade 12 students in STEM strand disregard their own preferred course just for
them to acquire studying even for such forced courses. Lack of money, fund shortage, and low-income are
also a major case in which students are facing during their Senior High School phase, leading them on
choosing non preferred and not favored courses.

SIGNIFICANCE OF THE STUDY

 Through the comprehensive exploration of this study, this research will provide insights on
why our research is important and what are the benefits of the future researchers and students in
this particular research topic.

Our research is about the conduction of financial problems and knowing the perspective of some
students in Grade 12 STEM students on how does financial affect them to choose their desired course in
college. Our research is significant because our problem is about the currently faced problems we have
now, despite of our situation and lack of money to sustain the desired courses of the students. Through
the comprehensive exploration of this study, this research will provide insights on why our
research is important and what are the benefits of the future researchers and students in this
particular research topic.

There are a lot of positive benefits that you can aim on our research topic. It can also help
the students understand why Holy Rosary Academy’s Grade 12-STEM students struggling on
choosing their college courses. Honestly, not only students of 12-STEM have been experiencing
this problem specially for those students who has a financial problem, they tend to choose the
easiest and has a cheap tuition fee for them to take an exam or a degree.

The decision-making of the selected students will be broad and it will be easy for them to
think of a solution or way to their problems regarding in choosing their college courses.

For the future researchers, it is important to have a better understanding in every objective
to make it easier for the target audience to comprehend the research and understand the purpose
of the study. This research is also beneficial for the future researchers that have a related topic on
our study. They can get information that is valid and is needed on their research in this topic.

SCOPE, LIMITATION AND DELIMITATION

The main focus of this study is to know the negative impact of financial problems in
choosing college courses of Holy Rosary Academy's Grade 12-STEM. The respondents of this
study are those students who we think are applicable for our study which are those STEM who
are possible affected by financial problems such as financial burdens and financial worries. This
study focuses on applicable respondents who are financially unstable. The scope of this study is
to know what barrier or impact of financial problems on Grade 12-STEM students. This study
also mainly identifies and assesses the different factors of financial problems. Also, this study
yearns to identify the status of students and what are the impacts that can be affected in choosing
college courses, and to justify how to deal with different negative impacts related to financial
problems. To analyze how Grade 11-Competent face financial problems. Furthermore, according
to the sources we gather the financial problem. It is currently happening due to pandemic,
increasing of the factors that are affected with this problem and it is possible that we are covered
by financial problems including the Grade 11-Competent. (Samer Al- Samarrai, 2021) is one of
the references we gathered about how financial problems started or happened due to pandemic.
We consider working on this study to find out what are the other factors connected to impacts of
financial problems. In addition, our aim point is to explore how does students affected by not
having enough sufficient finances to pay to get into desired course and we all know financial
problem is the main type of problem considered all the aspects such as financial problem. We
researchers wanted to focus on what are the perspectives of the students who are affected by
financial problems.This study will not cover other problems that are not considered as one of the
problems in finance, the main focus of our study is for those students who are experiencing financial
problems. We considered working on this study to find out what are the other factors that are connected to
the impacts of financial problems on some students. In addition, our goal is to explore how students are
affected by not having enough sufficient finances to pay to get into their desired course.
 DEFINITION OF TERMS

For a better and clearer understanding of our study, we researchers provide and define the
following words.

Risk Theory - this attempts to explain the decisions people make when they are faced with
uncertainty about the future.

Financial Burdens - Are the problems that usually pertain to money, and other things that consist
of expenses.

Salient - This means the most noticeable or important point and idea.
Compel choosing unwanted courses - points out about forcing on choosing definite unwanted
courses.
Necessity- It is something that is relevant or needed, a kind of requirement. The quality or state of
being in need.
Barrier- It indicates the problems or hindrances to access or to aim something.
Cheap- low cost or low price
Comprehend- to understand something, knowing how it can be understandable with someone’s
capacity by his/her knowledge
Sufficient- enough for a particular purpose
High-cost social service - Pertains about financial payments that is way higher than the usual
costs.
Essential - absolutely necessary and important.
Theorists - a person concerned with the theoretical aspects of a subject.
Uncertainty- something that is uncertain or that causes one to feel uncertain.
Labor- intensive - refers to a process or industry that requires a large amount of labor to produce
its goods or services.