One cause of poor academic performance among college students include financial difficulties, wherein students who live independently have to limit their finances to get through the next month. According to Jariah (2004): Parents often overlook teaching financial skills, such as budgeting and investing, while their children are still living at home. Instead, children are forced to learn how to handle their money when entering college and sometimes they make mistakes. However, the
They give up. So, why do they do this? Why do they choose to leave their education behind? A few of the leading causes of college dropouts are financial problems, stress, and an unwanted career path. One of the main causes of student dropouts is financial issues.
As the student struggles with financial problems, his friend is well off with finances from his business. But why does a person engage in the learning process even though it is tiresome? Why also does a person opt not to engage in small businesses but got to school? (Joseph, 2007) advises that a majority of people are told that education is important on a number of fronts while growing up so that they grow valuing education to a particular degree so that even if they face challenges while studying they persevere. The notion of the value of education did not just happen but was created by people who had experienced it and shared with their friends, relatives or even neighbors’.
The lack of educational support from school contribute to students failure and stands against student's productivity. In addition, while students are suffering from the unqualified educational staff at school, most of their parents are uneducated and didn't have the sufficient awareness to follow their children educational progress. These unsupported environments lead student to drop out and stop enrolling in school. (Sara B, 2008) • Social family and economic issues: According to Al-Bayan (2013), There is no doubt that family plays an important role in motivating children to enroll in the educational field .It’s the cultivator of the primary values. So that can direct him either for education or isolate him from the value of being educated.
Instead, it will bring about social exclusion and lead to social segregation between the rich and the poor. This is evident not only in the aspects of income but also other aspects such as education, health and housing. Children often have to work outside of school so that they can provide income for their families. Hence, they are unable to fully enjoy the benefits of education, even though it is fully funded for. This leads to a poverty cycle, as they often do not have the skills and knowledge required in the workforce, reducing their potential income, therefore being unable to walk out of poverty.
The education system does a good job at teaching students the basics of money. However, it fails to teach the teenagers how to handle their money when they go to colleges or when they start making money. As a result, people in the United States, especially the college students do not know enough about personal finance. In the article, “Schools Must Teach Financial Literacy”, the author James Almon writes about the issues concerning financial debts many people are facing due to the lack of knowledge about how to maintain personal finance. Student debts are one of the worse scenarios.
For example, frequently, college students struggle to find sufficient money to pay for tuition, as well as securing the funds needed to cover the costs of living while attending school. Even those students who are able to qualify for sufficient financial aid to cover immediate college costs, must cope with the financial stress of knowing that they will be doomed to face paying back a large sum of money following graduation. Also, a plethora of students have to pay for their college on their own if they are working, or their parents are doing well enough, that they cannot obtain financial aid from the government. Thus, gives them no other alternative but to take out student loans, which could also leave them in debt for an umpteen amount of years. Another example of financial pressures for college students, is supporting a family while attending college.
Forgiveness of Student Loan Debt On a global scale, there is a large amount of people who are unfortunate in the sense that they are all regrettably faced with the issue of the struggle to pay for a proper education. Seeing as those who struggle are unable to pay on the spot, whether it be because they are financially independent adolescents or their families have low financial income, a majority of said strugglers resort to applying for student loans. This allows them to receive an education for the time being, but it still must be paid for eventually. As a result, every student who takes a loan for schooling will be in debt until everything that has been borrowed is paid off. Thereupon, student debt is generally defined as a type of debt
Arrogance is another challenge both from the students and the accountants. Late payments and even student failing to pay is another challenge. It is required for every student in session to pay school fees at the beginning of every semester. They are also required to sit for their exams if they have totally paid the school fees. This has not been the case for some students which is a great challenge to all accountants in the university.
They are more interested in gaining social experiences or traveling. Learning is an ongoing thing. If there is a sudden interruption for a long time, it will be extremely hard for you to concentrate on study again. For some student, after they taking gap year and back to collage, they cannot catch up with the rate of learning in the university. Finally, they drop out from the collage which they had paid a lot for get in in high school.