QUIRINO STATE UNIVERSITY Cabarsoguis Campus, Quirino 3400 “Financial Struggles of Students Taking Up Bachelor of Science In Hospitality Management in Quirino State University Cabarroguis Campus” Researchers: Lovely V. Bural Wynie Grace T. Obra Quenie Joy C. Manansala Introduction College represents a thrilling and transformative phase for many students, but it frequently poses significant financial hurdles. The exorbitant costs of living can strain even the most financially astute students. Early adulthood prompts individuals to venture away from their familial homes to forge new careers, acquire fresh skills, or pursue higher education (Lenz, 2001). In response to the financial literacy challenges encountered by students, the Economic and Financial Literacy Act, Republic Act No. 10922, strives to enhance national awareness. This legislation mandates the National Economic and Development Authority to spearhead initiatives promoting economic and financial literacy. Various entities, including government organizations, local government units, governmentcontrolled corporations, and educational institutions, can adopt these initiatives. Objectives This study aims to explore the challenges encountered by the participants in the reintegration to his/her family and community. Specifically, it also aims: To identify the type of financial problem that will affect student academic journey of the students. To investigate the financial struggles of students studying hospitality management in the first year to fourth year. Statement of the Problem The specific problems that this study sought to answer are the following. 1. What is the profile of the respondents in terms of: 1.Age 2.Gender 3.Civil status 4.Ethnicity 5.Year level 6.Number of siblings 7.Sources of Allowance a). From Parents b). Guardian c). Working Student 2. What are the students’ struggles in terms of financial aspects as they take up the course Hospitality Management? Conceptual Framework Methodology RESEARCH DESIGN SAMPLE DESIGN RESEARCH RESPONDENTS RESEARCH INSTRUMENTS RESEARCH ENVIRONMENT DATA ANALYSIS Part I. Profile of the Respondents Masculine – 46.8% Single – 98.4% Ilocano – 72.0% First Year – 38.4% 1-3 siblings – 66.8% From Parents – 85.2% 50-100 pesos – 74% Living with Parents – 15.6% Part II. Significant Differences on Financial Struggles Part III. Financial Struggles of Students Part III. Financial Struggles of Students Summary The study looks on the financial difficulties faced by students at Quirino State University's Cabarroguis Campus who are pursuing a bachelor's degree in hospitality management. The introduction draws attention to the financial difficulties that college students—especially those majoring in hotel management—face as they attempt to balance the high expenses of living and learning. The study's goal is to encourage students' financial literacy and education in accordance with the Economic and Financial Literacy Act. The research questions target aspects such as tuition fees, textbook costs, lodging charges, and related expenditures with the goal of defining respondents' profiles and comprehending their financial hardships. According to the null hypothesis, there are no appreciable age-related variations in financial difficulties. The conceptual framework employs a systems approach, incorporating inputs (student profiles), processes (data collection), and outputs (examination of financial difficulties). The study's significance lies in contributing concrete information about students' financial struggles, promoting financial literacy, aiding faculty assessment, providing suggestions to the university, assisting parents, and guiding future researchers. The methodology employs a quantitative research design, utilizing a survey questionnaire “ Research respondents are students enrolled in Hospitality Management, and stratified random sampling is applied by year level. Data gathering involves face-to-face surveys, and data analysis includes weighted mean, percentage, frequency, and ANOVA to compare variances. The literature review covers various aspects of financial literacy, financial stress, and the impact on students' academic performance. Notable studies and literature emphasize the need for financial education and address the challenges faced by college students. The study aims to enhance understanding of financial struggles among Hospitality Management students, contributing valuable insights for academic and policy considerations. The methodology employs robust quantitative techniques to analyze and interpret the collected data. Conclusion In conclusion, the demographic profile of Bachelor of Science in Hospitality Management students provides a comprehensive overview of the study's participants. Genders are well-represented, with a balanced distribution among masculine, feminine, and LGBTQIA individuals. The majority of students are unmarried, Ilocano, and primarily enrolled in the early years of their college education. Parental financial support is prevalent, and most students receive a daily allowance within the range of Php50 to Php100. The living arrangement data indicates that a significant percentage of students still reside with their parents. The test of significant difference based on demographic profiles reveals that, while there are no notable variations in financial struggles related to gender, civil status, ethnicity, number of siblings, and source of allowance, significant differences are observed concerning academic year level and daily allowance. This suggests that financial challenges vary among students based on their academic progression and the amount of daily allowance they receive. ” Conclusion In conclusion, the demographic profile of Bachelor of Science in Hospitality Management students provides a comprehensive overview of the study's participants. Genders are wellrepresented, with a balanced distribution among masculine, feminine, and LGBTQIA individuals. The majority of students are unmarried, Ilocano, and primarily enrolled in the early years of their college education. Parental financial support is prevalent, and most students receive a daily allowance within the range of Php50 to Php100. The living arrangement data indicates that a significant percentage of students still reside with their parents. Conclusion The test of significant difference based on demographic profiles reveals that, while there are no notable variations in financial struggles related to gender, civil status, ethnicity, number of siblings, and source of allowance, significant differences are observed concerning academic year level and daily allowance. This suggests that financial challenges vary among students based on their academic progression and the amount of daily allowance they receive. Recommendations Based on the findings of this study, it is recommended that policymakers, financial aid, scholarship committee officers and educational institutions should consider implementing support initiatives for students facing financial difficulties related to education expenses. These initiatives could include providing additional financial assistance or resources for students with insufficient daily allowance or those experiencing financial constraints due to education-related expenses. Recommendations Additionally, educational institutions could consider offering scholarships or grants specifically for students facing financial difficulties related to education expenses. Furthermore, educational institutions could provide resources and support for students struggling with time management or balancing academic and financial responsibilities. These initiatives could help alleviate some of the financial burdens faced by students and promote academic success. Overall, it is important for policymakers and educational institutions to recognize the financial challenges faced by some students and take steps to address these issues through policy and support initiatives.
