GUINAYANGAN SENIOR HIGH SCHOOL

BLISS Site, Bgy. Sisi, Guinayangan, Quezon

FINANCIAL STATUS AND ACADEMIC ACHIEVEMENT OF

STUDENTS OF GUINAYANGAN SENIOR HIGH
SCHOOL A CORRELATIONAL STUDY

A Research Proposal
Presented to
THE FACULTY
Of Guinayangan Senior High School
Guinayangan, Quezon

In Partial Fulfillment
Of the Requirements for
PRACTICAL RESEARCH 2

By:

CARL JAMES M. DEVIDA

JOHN MARK ARCANGEL
JERIC HIBAYA
CARLO HULAR

Accountancy, Business, and Management

 December
Chapter I

INTRODUCTION

Financial Status, refers to an individuals overall banking condition, including

assets, liabilities, income, and expenses.

It provides an exposure of a persons monetary well-being, It includes an entities

capacity to fulfill financial responsibilities and reach intended objectives, considering

their present resources and financial engagements.

Financial plays an important role in students academic performance. Financial

problems are a serious issue that needs to be addressed as it leads to multiple stages of

problems such as health issues and academic performance (Dang & Bulus, 2015). For

example, students with a higher financial status might have better academic

achievements. The possible reason to this is that students with a higher financial status

can support their needs, such as tuition fees, transportation expenses, school supplies, and

daily expenses, which can significantly affect their academic performance. According to

Guirit et al., (2015) Factors influencing student success encompass income, its source,

and maternal education level. While several economically disadvantaged students

perform below average, employing effective teaching methods at various levels

classroom, school, district, and government, can aid in narrowing the achievement gap by

supporting students to excel academically.

 Furthermore, as an example, at Ohio State University it was stated that “Seven out

of 10 college students feel stressed about their personal finances, according to a new

national survey. Nearly 60 percent said they worry about having enough money to pay for

school, while half are concerned about paying their monthly expenses” (Grabmeier,

2015). According to Norazlan et al., (2020) students from low-income households who

were unable to obtain an education loan or scholarship could find it difficult to cover their

basic expenses, including housing, food, and school supplies. It says that students from

Ohio State University is having problem on paying their tuition, debt, or even enough

financial resources to support their daily expenses, which it can lead for them to have

difficulties in their studies. Students who are in a difficult financial situation experience

financial stress, which has been linked to poor academic performance (Norazlan et al.,

2020; Ali et al., 2021).

Guinayangan Senior High School, just like any other Educational Institutions

where it has a diverse enrolled students, where as every students’ has a financial

background, learners that came from families that can financially support their needs like

school materials, transportation expenses, and even daily expenses. And learners that

came from a family that faces financial problems that may affect their ability to support

basic needs like school expenses that may result in bad academic performance.

Understanding how financial status relates to academic achievements can be essential for

educators, and the youngsters parents.

 The primary goal of this correlational research Is to find the existence and nature

of the relationship between students financial status and their academic performance at

Guinayangan Senior High School. By investigating whether students with greater

financial resources tend to achieve better academically and exploring the potential impact

of lower financial status on academic achievement, this study aims to provide valuable

insights. Understanding this correlation can inform strategies and opportunities aimed at

empowering students to reach their full academic potential, contributing to a deeper

comprehension of the factors influencing academic success in students, regarless of their

financial backgrounds.

Background of the Study

In todays time, the relationship between financial status and academic

achievement of students has become subject of increasing importance. Understanding

how financial resources having an impact on the academic performance of students is

crucial. Guinayangan Senior High School, like many other educational institutions, holds

a diverse financial background of students. Some students came from a family where they

are not having trouble on financial resources which makes them to have the ability to

afford their needs for school-related expenses, while others face financial challenges that

may hinder their academic progress or performance. According to Zaman et al., (2023),

For some students, financial constrain is a major problem especially those of

underprivileged or low-income families which ultimately might affect their academic

performance. According to Guirit et al., (2015), the factors affecting student achievement
include income, source of income, and the mother’s education level. Although many poor

students score below average on assessment measures, instructional techniques and

strategies implemented at the classroom, school, district, and government levels can help

close the achievement gap by providing students with necessary assistance in order to

achieve high performance in academics.

The socio-economic backgrounds of the students often influences access to

educational resources, and support systems. According to Norazlan et al., (2020), students

from low-income households who were unable to obtain an education loan or scholarship

could find it difficult to cover their basic expenses, including housing, food, and school

supplies. And with low income it can have a significant impact on the academic

performance of the student. Furthermore, research indicates that financial stress can

significantly impact students cognitive functioning and overall academic performance.

Moreover, by examining the correlation between financial status and academic

achievement of learners at Guinayangan Senior High School, it’s possible to gain

valuable insights, seek opportunities, and support mechanisms that can bridge the gap

between students with varying financial capacities, enabling students to perform well in

academics even with the lack of financial resources. This study stands as a light source or

radar of students at Guinayangan Senior High School, guiding the school community

toward a more equitable and inclusive educational environment, where every student can

thrive academically, regardless of their economic background.

 By using the formula:

n=N /¿

With the total number of 787 enrollees at Guinayangan Senior High School,

School Year 2023-2024, we were able to determine the number of respondents that we

should gather data from, a total number of 265 respondents.

Self-administered surveys were used to gather a total data of 265 repondents of

Guinayangan Senior High School.

Statement of the Problem

This study aims to investigate the potential correlation between the financial

status and academic achievements of students at Guinayangan Senior High School, with

the following specific questions:

1.What is the demographic profile of respondents

1.1 Gender;

1.2 Strand;

1.3 Family Background;

1.3.1 Parents Job Occupation;

2. What is the financial status of the students in terms of:

1.1 income
 1.2 family support

3. What is the academic achievement of students during first quarter School Year

2023-2024?

1.1 Point Average (GPA)

4. Is there a correlation between Financial status and Academic Achievements of

Guinayangan Senior High School Students?

Research Hypothesis

Ho: There is no significant correlation between Financial status and Academic

Achievements of Guinayangan Senior High School Students.

Significance of the Study

This study will make a valuable contribution to various individuals by

investigating and uncovering solutions to the central question, thereby providing

important information to those who stand to benefit from this research. Consequently, this

study holds particular significance for the following:

Students. This research offers valuable insights for students by enhancing their

awareness of how financial status can impact their academic achievements. By

understanding this correlation, students can make informed decisions and seek

appropriate support, ultimately improving their academic performance.

School Administrator. This study can benefit school administrators. By delving

into the correlation between financial status and academic performance, administrators
can gain valuable insights into the specific needs and challenges faced by students. The

identification of students who may require additional academic support or financial aid

becomes a pivotal outcome.

Government. The government can use the study’s findings to distribute resources

more effectively. By identifying specific areas where additional funding or support may

be needed, they can optimize resource distribution within the education sector, ensuring

that assistance reaches those who require it the most.

Future Research. The study can serve as a foundation for future research on the

topic. Researchers can build upon these findings to delve deeper into the specific factors

that influence academic performance based on financial status.

Scope and Delimitation

This research topic was chosen by the researchers to define if there is a

relationship between two variables which are financial status and academic achievement

of students.

The data will be conducted from students of Guinayangan Senior High School.

Out of 787 enrollees, 265 students were used a sample, which has been chosen to conduct

this study at Guinayangan Senior High School in this School Year 2023-2024.

This study limits that only students from Guinayangan Senior High School of

School Year 2023-2024 will be conducted.

Definition of Terms

The following terms are defined conceptually and operationally for better

understanding of the study:

Academic Achievement describes academic outcomes that indicate the extent to

which a student has achieved their learning goals (Tophot.com, 2023). Used this term in

order to investigate if there is a relationship between academic achievement and financial

status.

Correlation is a mutual relationship or connection between two or more things

(Dictionary.cambridge.org, 2023). Used for the two variables of the study.

Demographic profile is a description of a particular type of customer, including

their sex, age, income, etc. (Dictionary.Cambridge.org, 2023). Used this word in order to

know the respondents social and financial status.

Educational Resources are used in a learning environment to help and assist with

people’s development and learning (Twinkl.com, 2022). Used in the study to describe

what students may lack and what they will probably need in order to attain or become a

academic achieve.

Financial status means the condition including finance, business, assets,

properties, and operations of a person (genieai.co, 2023). Used as a variable for finding

its correlation with Academic Achievement.

 Socio-economic status defines the Socio-economic background relates to a

combination of an individual’s income, occupation and social background (Open.ac.uk,

2023). Used to describe the persons status of life.

Relationship is the way in which two or more concepts, objects, or people are

connected, or the state of being connected (Dictionary.cambridge.org, 2022). Used as

defining the existence of relationship of the study.

Institutions is a society or organization founded for a religious, educational,

social, or similar purpose (Dictionary.cambridge.org, 2023). Used as a representation for

Educational Institutions.

Chapter II

REVIEW OF RELATED LITERATURE AND STUDIES

In this chapter the researcher presents the relevant literature and studies and

considered it for strengthening the importance of the study. It also presents the

combination to fully understand the research for better conception of the study.
RELATED LITERATURE

The researchers consider the following readings most useful in the further support

for this study. Foreign and local literatures has been read and consulted.

Financial Status

Foreign

According to Sabri and Dass (2017), in the article entitled “The Financial Status,

Financial Problems and Personal Well-Being of Urban Poor Youths” it is stated that in

Malaysia, youths nowadays are facing many challenges such as the need to have savings

for emergencies, Children’s education, management of credit and risks, plans for

retirement and management of property (Idris et al., 2013, as cited in Sabri & Dass,

2017).

Silva et al., (2017) investigated the financial education level among high school

students at Blumenau, a critical factor in understanding the link between financial status

and academic achievement. Assessing 4698 students from 14 public schools, the study

revealed that while financial knowledge primarily stemmed from familial sources and

daily practices, limited discussions within families about financial matters were observed.

Moreover, deficiencies in financial education within school contexts were evident,

signaling the crucial need for enhanced financial literacy programs at the high school

level. Silva et al.’s findings underscored the necessity of effective financial education in

preparing students for their economic futures and highlighted the importance of

addressing financial literacy gaps.

 According to Sander (2013), Sander was able to see that a large number of

Americans are affected by the economic crisis, and that college students frequently worry

about money. This concern may cause them to focus differently, which could have an

impact on their academic performance. When they worry about the accessibility of

educational resources and the regular maintenance of their school

Norazlan et al., (2020), an article that was studied in Malaysia. According to them

Financial plays an important role in students’ academic performance. Financial problems

are a serious issue that needs to be addressed as it leads to multiple stages of problems

such as health issues and academic performance.

Local

Carballo (2021), stated in the article entitled “Filipino worry about financial

status” Filipinos are the most worried about their financial status compared to those in

Asia Pacific countries, a study commissioned by a banking software solution provider

showed. The study conducted by Forrester Consulting said that Filipino consumers are

also more worried and uncertain, and one reason for this concern is debt.

In an article created by Lastimosa et al.,(2023), entitled “Negative Effects of

Poverty on the Academic Achievement among Children with Special Needs in the

Philippines”. Emphasizing the effects of poverty to academic achievement of students. It

is revealed that poverty or lack of financial resources can significantly affect the

academic performance of the student due to not having enough financial resources to

purchase special needs.

Academic Achievement

Foreign

In an article entitled “Factors Affecting Students Academic Performance” in

Malaysia, it is said that students who perform poorly at the University would face an

unclear and miserable future. The academic success of pupils is influenced by a number

of variables, including low entry grades, family support, accommodation, student gender,

previous assessment grade, student internal assessment grade, GPA, and students’ e-

learning activity (Husaini & Shukor, 2022).

According to Guskey (2013), is the article entitled “Defining student

achievement”. The author states that student achievement is the basis of nearly every

aspect of education. It gives direction to all educational improvement efforts, provides the

foundation for education accountability programs, and serves as the primary outcome

variable in most educational research studies.

According in an article entitled “How does family background affect children’s

educational achievement?” in China, by Li and Qui (2018), Education is a lasting

process. Academic performance in primary education plays a crucial role in obtaining

further educational opportunities. Thus, it is necessary to examine how family

background affects children’s academic achievement at an early stage. It proposes two

pathways through which family influences children’s academic performance. Firstly,

parents compete for high-quality educational opportunities for their children and better

educational opportunities lead to better academic performance. Secondly, parenting

behavior and educational support for their children could cultivate children’s learning

habits and affect academic performance.

In Oxford University located at United Kingdom, according to Steinmayr et al.,

(2014), it is said that academic achievement represents performance outcomes that

indicate the extent to which a person has accomplished specific goals that were the focus

of activities in instructional environments, specifically in school, college, and university.

Among the many criteria that indicate academic achievement, there are very general

indicators such as procedural and declarative knowledge acquired in an educational

system, more curricular based criteria such as grades or performance on an educational

achievement test, and cumulative indicators of academic achievement such as educational

degrees and certificates. All criteria have in common that they represent intellectual

endeavors and thus, more or less, mirror the intellectual capacity of a person. In

developed societies, academic achievement plays an important role in every person’s life.

Academic achievement is a direct manifestation of learning effectiveness and a

valid indicator to evaluate the effectiveness of teaching and education in higher education

as well as the overall development of students. The analysis of academic achievement has

gradually become the focus of research by scholars and experts, but the definition of the
concept is still controversial. The term “academic” can be expressed as the result of

school work, such as academic achievement. “Achievement” is explained as: (1) victory,

establishment; (2) cultivation; (3) the result of a career. Academic achievement is defined

as: (1) learned effort; (2) schoolwork. Achievement is defined as: the result obtained

through study.Defined in the article “A LITERATURE REVIEW ON THE ACADEMIC

ACHIEVEMENT OF COLLEGE STUDENTS” in the college students of China, (Zheng

& Mustappha, 2022).

According to Sharma qnd Subban (2023), in the article entitled “Inclusive

Education and Disability Studies in Education” at International Encyclopedia of

Education(Fourth Edition), they stated that student achievement is at the forefront when

considering any effective inclusionary program, with much of the research in the field

examining whether students meet their academic goals. In another related study on

inclusive education measures in the Australian context, Anderson and Boyle (2015),

acknowledged that there are limited guidelines to evaluate inclusive education, leading to

varying levels of success with regard to student achievement. Introducing indicators of

success acts as a means of evaluating inclusionary programs, especially as they align to

student achievement (Anderson & Boyle, 2015).

According to Chan and Dai (2023), in the article entitled “Factors Influencing

Academic Achievement of University Students” in Malaysia. Academic achievement is

one of the significant outcomes of the formal education processes. Thus, understanding
the factors which influence academic performance is timely. The determinants include

student engagement, general knowledge, social skills, and communication skills.

In an article entitled “Introduction to generalizability” in International

Encyclopedia of Education (Fourth Edition) by Kim and Lee (2023), the two researcher

stated that student achievement is an essential part of education, allowing for tracking of

student progress and evaluation of teachers, schools, or educational systems. Thus, it is

critical to educators to ensure quality measurement.

Local

According to the article by Bartolome et al., (2017) entitled “PARENTAL

INVOLVEMENT IN THE PHILIPPINES”. It was stated that parental involvement refers

to the amount of participation a parent has when it comes to the schooling or academic

achievement of his/her chiildren. Some schools foster healthy parental involvement, but

sometimes parents has hesitations if they will involve themselves with their children’s

education. Parental involvement can either have good or bad impact on the academic

performance of the child.

RELATED STUDIES

Financial Status

Foreign

In the study by Iramani and Lufti (2021), entitled “An integrated model of

financial well-being: The role of financial behavior” in Indonesia, their results show that

financial experience, financial knowledge, financial status, and marital status directly
affect financial well-being. Financial behavior significantly mediates the influence of

financial behavior, financial knowledge, and locus of control on financial well-being.

Local

In another related study by Moneva et al., (2020), in “Students’ Satisfaction in

Their Financial Support and Persistence in School” it was stated that in Jagobiao National

High School, Cebu. Financial satisfaction or being satisfied with their parents financial

resources can affect the consistency or persistence of students in getting a academic

achievement even though they knew it would be difficult.

According to the study “Financial Status and Academic Performance of Senior

high School Students Under Science Technology and Mathematics”(2022), in Davao Del

Sur in the Philippines, their study shows that finances matter especially in the field of

school activities and school works but it does not mean that it can really affect their

performance in schools. There are a lot of scholarship program offered by different

institutions and is open to all student who are willing to pursue. Basically it still relies on

how a student courage to pursue his career.

On Academic Achievement

Foreign

According to Azhar et al., (2014), in the study “Impact of Parental Education and

Socio-economic Status on Academic Achievements of University Students” conducted at

University of Sargodha, Pakistan. She stated that education is a primary need in this era

of globalization. Education not only gives insight, it also grooms the personality,

inculcates moral values, add knowledge and gives skill. Education is necessary owing to
the atmosphere of competition .In every field highly qualified people are needed. As

Battle and Lewis states; “In this era of globalization and technological revolution,

education is considered as a first step for every human activity. It plays vital role in the

development of human capital and is linked with an individual’s well-being and

opportunities for better living.”

In the study that was conducted by Senad (2021),in Germany entitled “Exploring

the relationship between language learning strategies, academic achievement, grade level,

and gender” Learning efficacy can be substantially improved through the frequent use of

learning strategies, whose practicality has been confirmed through extensive research.

They are determining whether learning strategies are significant predictors of students’

achievement in learning English as a foreign language (EFL) as well as by exploring

strategy awareness and variations in strategy use by gender, grade level, and overall grade

point average (GPA). Moreover, their findings revealed a significant impact of overall

GPA and an insignificant impact of gender and grade level on the use of strategy

subtypes, with the most frequently used strategies being metacognitive and the least

frequently used being affective strategies.

Faaz and Khan (2017), stated in their study named “A Study of Academic

Achievement of Upper Primary School Students in Relation to their Socio-economic

Status” at Aligarh, India. Revealed the fact that there exists a high and a positive

relationship between Socio-Economic Status and academic achievement of Students at

Upper Primary stage. Also, the study showed that academic achievement varies according
to the variation in Socio-economic level of students. Those students who belong to high

Socio-Economic Status usually achieve higher marks and grades in their schooling while

those who come from middle and lower Socio-Economic Status background obtained

average and lower marks in their schooling.

On the other hand, in the study entitled “Parents’ Occupational Background and

Student Performance” Atolagbe et al., (2019), In Nigeria, the authors was examining the

effects of the occupational background of parents on the academic performance. Also, it

was said that students with working parents who earn regular salaries and work in offices,

especially within the school setting, perform better than those with parents who are not

working or who earn an irregular income, and it resulted from having a negative

correlation.

Peng and Kievit (2020) stated in the study entitled, “The development of

academic achievement and cognitive abilities” in the University of Texas at Austin. They

stated that developing academic skills and cognitive abilities is critical for children’s

development. In this article, they review evidence from recent research on the

bidirectional relations between academic achievement and cognitive abilities.

In a study conducted by Liu et al.,(2023), entitled “Critical Thinking Disposition

and Academic Achievement among Chinese High School Students: A Moderated

Mediation Model” in China. Their study tested a moderated mediation model that

included critical thinking disposition (independent variable), emotional intelligence

(moderator), academic self-efficacy (mediator), and academic achievement (dependent

variable). By gaining data from their research questionnaire, they were able to find that it

showed that critical thinking disposition was positively associated with academic

achievement.

Local

In a research entitled “Predictive Validity of National Career Assessment Exam”

by Santos (2019) in Bulacan State University, in this article it focuses on the assessment

of academic performance of Senior High School based on their chosen strand.DepEd said

that it is significant that students must have chosen a strand as early as Grade 9, in order

to not have a problem in their career choices, and it can have a huge impact on their

academic performance when the students didn’t think enough on what will they prefer

when choosing a strand.

In a related study that was entitled “Academic Achievement and LET

Performance” by Rabanal (2016), stated that the findings of her showed in the Philippines

that the respondents exhibited good academic achievement, most of the examinees passed

the Licensure Examination of Teachers (LET) in all the components. There was a higher

percentage of passer than non-passer in the LET. Educational Institutions should continue

to seek professional development ventures for the improvement of teaching competence

and professional preparations. In this research it explains that academic achievement have

significant impact in a individual in order to obtain their future career.