FINANCIAL DIFFICULTIES AND ITS IMPACT ON ACADEMIC PERFORMANCE OF GRADE 12 ACCOUNTANCY, BUSINESS, AND MANAGEMENT STUDENTS AT IMMACULADA CONCEPCION COLLEGE

Abstract

Financial difficulties can have a profound impact on a student's academic performance, as they often lead to challenges in accessing essential resources and can cause additional stress. This study aimed to explore the impact of financial difficulties on the academic performance of Grade 12 Accountancy and Business Management (ABM) students at Immaculada Concepcion College. The research sought to understand how financial constraints affect students' ability to perform academically and to identify potential solutions to mitigate these challenges. The researchers collected 171 responses from Grade 12 Accountancy and Business Management (ABM) students, with participants from all sections, ABM 1 to 8. The study used snowball sampling as the sampling method and employed a descriptive-correlational design to explore the relationship between financial difficulties and academic performance. This approach allowed the researchers to gather insights into how financial challenges are linked to students' academic outcomes and identify any significant patterns. The findings of the study revealed that most respondents had a General Weighted Average (GWA) between 85 and 90. Financial difficulties, including lack of resources, skipping meals, and insufficient transportation funds, were found to significantly affect students' academic performance. A notable percentage of students struggled to meet basic needs, further hindering their academic success. The study's statistical analysis showed an r value of -0.1212 and a p value of < .00001, indicating a significant negative relationship between financial difficulties and academic performance. This suggests that as financial challenges increase, students' academic performance tends to decline. Future research should involve larger and more diverse groups of students to validate the findings of this study. Expanding the sample size and demographic range will provide a broader perspective on how financial difficulties affect academic performance. Additionally, further studies could explore other factors that may influence this relationship, such as psychological stress, time management, or access to academic support services, to gain a more comprehensive understanding of the challenges students face and how these factors collectively impact their academic success.