Finding Your Perfect School Starts Here!
Step 1
Please answer the question below so that we can help you find your ideal school.
Financial Concerns Negatively Affect College Students' Academic Performance
By Catherine Groux
Posted August 06, 2012 02:38 PM
Financial concerns are college students' biggest stressor.Students face many challenges when transitioning from high school to college, including fitting into a new environment and learning how to complete advanced coursework. However, according to a new survey by Inceptia, finances are the biggest stress factor college students face.
The survey shows that of 11 possible sources of stress, students said their biggest cause of anxiety was borrowing money for college. Other top stressors these individuals mentioned were paying back loans, the overall cost of higher education and the need to find a job after school.
Additionally, the survey found that concerns about money often hinder individuals from succeeding in college. About one-third of college students said finances have negatively impacted their academic performance or progress, while 20% said they had to drop courses to deal with these stressors.
"The study concluded that there is a clear link between financial stressors and academic progress and performance," said Kate Trombitas, Inceptia’s vice president of financial education and author of the study. "The media consistently reports about mounting student debt, increased college costs and high unemployment rates. Our study reveals how those stressors, in some cases, are hurting students’ performance and progress."
A 2011 Associated Press-Viacon poll found similar negative effects of students' financial concerns. According to the survey, individuals are more likely to consider dropping out of college due to financial troubles than poor grades.
