CHAPTER I INTRODUCTION

Background of the Study Education is one of the most important treasures that parents can give to their children. There is no doubt that people want to be educated because they believed that education can bring happiness and at the end they can gain better life. Ever since, we all know that education is the key and stepping stone to reach our goals and ambitions. Education is valued much by the Filipinos despite of poverty. Everyone strives to finish their studies because they want to land a good job. Thats why many Filipinos are still seeking and making the best way to get a good a good education in spite the absence of financial support that happened in their lives. Attending college can be an exciting and enriching experience. It can also be costly one. In addition to tuition fees, booksupplies and other expenses to think about transportation fess. A combination of self supporting students and other outside funding sources can help meet a college cost. The greatest challenge for a college student is to become one of the self supporting students particularly with intellectual disabilities. Typically student with intellectual disabilities have not been eligible for federal financial aid, due to the nontraditional ways that they may access college (non-matriculated, very part time, etc.). Is it important to have a social life while in college? After all, aren't you in college to learn? There are those who would say that the main focus while in college should be
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academics and academics alone. However, having a social life while in college may actually enhance your learning environment.

Beginning college is beginning a new chapter in your life. The days of high school are far behind you, and now it's time to settle in and prepare for what your future has in store for you. Chances are that you have already decided on what you want to major in or you have chosen to major in "general studies" until you figure out what you want to really do with your life.

For many, starting college is a stressful and scary time. Depending on where the college is located, you could be hundreds and even thousands of miles away from home. This for some will be the first time they have been away from their family, their hometown and their best childhood friends.

However, there is no need to be stressed. While you will be anxious and nervous, college life will open many new doors for you. Your academics will pave the way for your future career. While academics are important and should be your main focus while in college, it is also just as important to have a social life.

Having a social life in college is a great way to find study partners. In the college setting, your studies tend to be a bit more detailed then when you were in high school. Chances are, you are going to come across a ton of information that you have never encountered before. Having a study partner is a great way to bounce ideas and facts off of one another. Studying doesn't seem so stressful when you have someone to help you get through a tough exam or paper you have to write.

The best part about having a social life in college is that you are not limited to the campus environment. You and your study partner can go and study at a local coffee shop or over a sandwich at a favourite deli. The best part is that you're getting a social life and great friend to assist you with studying.

There's no doubt that college life will get stressful. It's a lot of work that is worth it when you walk across the stage with your degree in hand. However, studying for a test, writing a term paper and reading chapter after chapter, in general, can put a lot of pressure on a college student. Having a social life is a great way to ease the stress.

STATEMENT OF THE PROBLEM This study will be conducted to determine the financial crisis management strategiesof working students of Western Philippines University. Specifically it tends to answer the following questions. 1. What is the socio-economic profile of the respondents? 2. What are the financial crises that affect the working students and how are they affected? 3. What are the financial crises management strategies of the respondents? 4. What are the problems encountered by the respondents in managing their financial crises?

OBJECTIVES OF THE STUDY This study will be conducted to determine the financial crisis management strategies of working student in Western Philippines University. Specifically the study aim to: 1. To determine the socio-economic profile of the respondents. 2. To determine the financial crises that affect the working students and how are they affected. 3. To determinethe financial crises management strategies of the respondents. 4. To determine the problems encountered by the respondents in managing their financial crises.

SIGNIFICANCE OF THE STUDY The study will be conducted to determine the financial crisis management strategies of working students of Western Philippines University, San Juan, Aborlan,Palawan. The result of the study will serve as information guide to other working student on how to manage thefinancial crisis in college. SCOPE AND LIMITATION OF THE STUDY The focus of the study is to determine the financial crisis management strategies of working students in Western Philippines University San Juan, Aborlan,Palawan. It is limited in determining the reason why they become working students, and the problems they encountered in Western Philippines University main campus.

OPERATIONAL DEFINITION OF TERMS Allowance-This refers tosomething given to a person, usually in relation to money or goods in exchange for service. Basic Needs -This refers to the necessary needs of a student such as food, clothing and shelter. Budget - It refers to the money allocated for expenses. Educational Attainment-It refers to the commonly used by statisticians to refer to the highest degree of education an individual has completed. Financial Crisis - It refers to the situation in which the value of financial institutions or assets drops rapidly Income - It refers to the amount received by an individual as payment for work. Monthly income - This refers to the earnings of an individual on a specified job within a month. Money-It refers to anything of value that servesas a (1) generally accepted medium of financial exchange, (2) legal tender for repayment ofdebt, (3)standard value, (4) unit of accounting measure, and (5) means to save or store purchasing power. Self supporting studentIt refers to the individual who earns or having enough money to pay for your activities without receiving financial help from other people Strategies It refers to the method or plan chosen to desired future, such as achievement of a goal or solution to a problem.

Tuition Fees-It refers thechargeorfeeforinstruction, as at a private school or a college or university. Working Students- It refers to individual who works part-time at a horse business while attending school. He or she may or may not be compensated for his or her time, and may or may not receive educational credit for the work.

CHAPTER II REVIEW OF RELATED LITERATURE College students face several unique financial problems. With the increasing cost of a college education, students find themselves in precarious fiscal situations. What complicates these financial problems are class workloads, the desire of many students to become more financially and personally independent from their parents, and the distance from their homes and support network. Sometimes for the first time, college students find themselves having to establish a personal budget. The budget must calculate how much the student earns against how much is spent in a month. Expenses range from textbooks and meals to luxuries like spring break trips. Dues for organizations, fraternities or sororities should also be added. Earnings include savings, stipends given by the college and work pay. Budgets help prioritize your needs but might not prevent you from having to eat Ramen noodles for the last week of every month. Many students find that taking a part-time or full-time job is necessary. Since a student's workload can total over 40 hours of classes, homework, study and other responsibilities, striking a balance between work and school can be difficult. Both working full-time and attending school full-time can result in burnout, leaving the student exhausted and incapable of doing either well. The college experience should be fun and intellectually stimulating, too, so an imbalance here might ruin the experience. (College Financial Problems | eHow.comhttp://www.ehow.com/about_6364095_collegefinancial-problems.html#ixzz1e0mCUc8m)

Undergraduate scholarships and graduate fellowships are forms of aid that help students pay for their education. Unlike student loans, scholarships and fellowships do not have to be repaid. Hundreds of thousands of scholarships and fellowships from several thousand sponsors are awarded each year. Generally, scholarships and fellowships are reserved for students with special qualifications, such as academic, athletic or artistic talent. Awards are also available for students who are interested in particular fields of study, who are members of underrepresented groups, who live in certain areas of the country or who demonstrate financial need.(http://www.finaid.org/scholarships/)

The Student Assistance Program is a financial aid program delivered by the government for post-secondary education students. The provincial government and the provide loans, grants, and scholarships on a needs-based formula.(http://en.wikipedia.org/wiki/Ontario_Student_Assistance_Program)

According to CHED (Commission on Higher Education) The figure is about 8% of the total number of college students in the country. CHED said working students today are mostly into food service, entertainment and sales, apart from their usual stints as library and research assistants.The CHED said that only 50% of working students get to finish college, as many cannot cope and cannot concentrate on their studies, while some have poor health, while others give up because of insufficient funds.CHED advised working students to get jobs that are not that demanding and that are more closely related to their courses. (Bernadette Sembrano, ABS-CBN news)

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According to African-American Business and Economic Indicators For most students, borrowing money has become a necessary part of going to college. The average student now graduates with at least $21,000 in debt and it is not at all uncommon for students to graduate with $100,000 in debt or more. At the same time, tuition at private universities and colleges has enormously increasedfar ahead of inflation.Parents are losing their jobs or their salaries are declining, so family contributions to education costs are decreasing. These factors mean that students from an increasingly broader economic spectrum are more dependent than ever on student loans.That is why every student who is attending or is applying to college right now must be horrified by what is taking place in the financial markets. In February, it became clear that what was originally reported by the mainstream press as a crisis in the risky subprime mortgage market, was now affecting what have been traditionally thought of as incredibly stable investmentslike bonds for student loans. (http://emergingminds.org/U.S.-Financial-Crisis-Hits-CollegeStudents.html)

According to Carl Marc RamotaFive years from now, the Philippines tertiary education will likely face a crisis if the current trends in college enrolment and dropouts will continue.Citing recent studies, the Anakng Bayan Youth Party revealed over the weekend that due to continuing tuition hikes more and more students enrolled in private colleges and universities find themselves either dropping out or forced to transfer to state institutions.But the state universities and colleges are plagued by similar problems: Not only are they few now and their enrolment quotas limited, they are also haunted by increases in tuition and other fees thus forcing many state scholars to leave.

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According to Raymond Palatino , vice president of Anak ng Bayan (nations youth), students who can no longer afford to study in expensive private tertiary schools and are planning to transfer to public higher education institutions may just have to give up their dream of earning a college diploma. Palatino also predicted an upsurge in the rate of college dropouts and number of out-of-school youth in the coming school year, a situation that will worsen in 2010.

Access to public higher education institutions which are the last resort for students who want to obtain a college degree has become impossible to many college hopefuls. While it is true that SUCs offer a tuition lower than private schools, educational expenditures in state schools and universities have seen the biggest increases in recent years, thus making it also inaccessible to ordinary students. (Raymond Palatino)

According to CHED (Commission on Higher Education)the number of tertiary population in schoolyear 2002-2003 was 2.4 million compared to 1.87 million in 19941995. It cites however that while state institutions had their population soar by 415,972 (from 399,623 to 815,595 during the same period), private colleges and universities could only absorb an additional 139,357 enrolees (or from 1.472 million to 1.611 million).

Working students can be categorized into two groups: those who primarily identify themselves as students but who work in order to pay the bills, and those who are first and foremost workers who also take some college classes. Almost two-thirds of undergraduates who work considers themselves students who work; the other third consider themselves workers who study. (http://www.brockport.edu/career01/upromise)

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CHAPTER III RESEARCH METHODOLOGY

LOCALE OF THE STUDY The study will be conducted in Western Philippines University Main campus San Juan, Aborlan Palawan. THE RESEARCH DESIGN The descriptive research design will be used in this study. RESPONDENTS OF THE STUDY The respondents of the study will be the working students in Western Philippines University, Main campus, San Juan, Aborlan Palawan. SAMPLING PROCEDURE Twenty percentof the working students in Western Philippines University, Aborlan Palawan will be selected in this study. RESEARCH INSTRUMENT A survey questionnaire prepared in English will be used as instrument in the study. Survey questionnaire will be pre-tested before the proper administration of the research. This is to ensure the reliability and consistency of the data gathered.

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PROCEDURE IN DATA COLLECTION Data collection will be based on the survey questionnaire. Other information related to the study will be gathered through personal interview. PROCEDURE FOR DATA ANALYSIS Data collected will be analyzed using a simple statistical procedure; the analysis of the study will be based on frequency counts, total mean, percent and rank.

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Conceptual Framework The financial crisis management strategies of every working students is depends on the socio-economic profile of the respondents; financial crises that affect working students and the problems encountered by the working students in managing their financial crises. Independent Variable Dependent Variable

y Socio-Economic Profile y Financial Crisis that affect working students

 Financial Crisis Management Strategies

y Problem encountered by the respondents in managing their financial crisis

Fig. 1 The Conceptual Paradigm showing the relationship between the Independent and Dependent Variable.

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Bibliography Books Jacqueline E. King. How Students Financial Decisions Affect Their Academic Success (2006). Pp.2-4

Doug Lederman. The Impact of Student Employment (2009). Pp.1

Laura W. Perna.Understanding the Working College Student (2010). Pp 1-5

Astin, A.W. The changing American Education. The Review of Higher Education (1985) Pp.115-135

Bean, J.P, &Metzner, B.S. A conceptual model of non-traditional undergraduate students. (1985, Winter) Pp.485-540

Bosworth, B., &Choitz, V. Held back: How Students aid programs fail working students. (2002)

Journals Cheng, David X.; Alcantara, Lucia.Assessing Working Students' College Experiences: A Grounded Theory Approach Other Sources Websites http://www.ehow.com http://www.ask.com http://www.indiana.edu/~ipas1/workingstudentbrief.pdf http://opinion.inquirer.net/inquireropinion/columns/view/20080401127563/Working-student

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APPENDICES

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Appendix1. List of Respondents 1. Roy Zumaraga29. Donaon Jonathan 2. ArnelBlancia30.Reyno Jayson 3. Jayson Peafiel 4. DiamonaArimao 5. Vegilla Angeline 31.Macan Ernest 32.Pangcalan Kiel 33.Parangue Lydie 57. Mayvee G. Argulles 58.Grace Mahilom 59. LaarniLadan 60. Donna C. Conjen 61. JevelynMolejon 62.Abes Fernando

6. Princess Jean Guanzon 34. Llmzana Kim Ryan 7. Giselle Sebido 8. AbortigueAsephina 9. QuaiwanCyrel 10. Tabucalde Rose Ann 11. Solivio Errol Mark 12. Vergara Jessica Joy 13. Tamolin Irish 14. UsmanHamama 15. Patricio Anna Jane 16. VillasisLeonel 17. De Asis Jay-Are 18. RhyanGabinete 19. Omapas Allan Paul 20. Mary Rose Cruse 21. Abdulla Waldzna 22. Oshita Mary Grace 23. GregasLeonalyn 24. PairatCristine

35.Villasista Angelo James 63. AchinaFelizardo 36. Santillan Angelo James 64. Bargoryo Gretchen 37. EndricoGemerTsin 38. Alabado Divine 39. AborotMardelyn 40. FuerteRealiza 41. PenasReyzamee 42. Pinto Ana Marie 43. Tingson Rosalyn 44. Okong Vanessa 45. San Juan Blanch 46. Jasson E. Maghari 47. RaymundSapalo 48.Brillio Lezlie 49. Remelyn M. Venturillo 50.Edwin Antimano 51. Molleno Michael 52. GadjerDubla

25. Riambon Emmanuel 53. Ferdinand Gelbolingo 26. TangyanOrly 27. Padul Mark Lester 28. Porsuelo Dennis 54. Ronald Letran 55. Francis Dominique Sanchez 56. Romy Tamayo

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Appendix1a. Letter to the Office of the Student Services Republic of the Philippines WESTERN PHILIPPINES UNIVERSITY College of Business, Economics and Management Aborlan, Palawan January 3, 2012

MERLY V. ANUNCIADO Scholarship Coordinator Madam; Greetings! We are graduating students of Western Philippines University, taking up Bachelor of Science in Business Administration major in Management. One of our requirements for graduation is to conduct a thesis study. Our study is entitled FINANCIAL CRISIS MANAGEMENT OF SELF SUPPORTING STUDENTS IN WESTERN PHILIPPINES UNIVERSITY 2010-2011 In this connection, we would like to ask permission to allow us to have the list of scholars and student assistants of all colleges to gather the data needed in this study. We are hoping for your kind consideration and approval regarding this request. Thank you very much. Respectfully yours,

(Sgd.) JULIUS REY D.KUTAT (Sgd.) DIAMONA J. ARIMAO Researcher

NOTED: (Sgd.)DR. LOURDES S. ARCILLA Adviser APPROVED: (Sgd.)MERLY V. ANUNCIADO Scholarship Coordinator
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Appendix2b. Letter to the Respondents Republic of the Philippines WESTERN PHILIPPINES UNIVERSITY College of Business, Economics and Management Aborlan, Palawan

January 3, 2012

Dear Respondents,

We aregraduating students of Western Philippines University, taking up Bachelor of Science in Business Administration major in Management. As part inour degree course, we will be conducting a thesis entitled FINANCIAL CRISIS MANAGEMENT OF SELF-SUPPORTING STUDENTS IN WESTERN PHILIPPINES UNIVERSITY 2010-2011 Relative to this, you are one of the selected respondents in this study. We request you to please share us your precious time to answer the questions that pertains to our study. The result of this study would be a great help. Rest assured that your honest answer will be treated with confidentiality. Thank you very much for your cooperation.

Respectfully yours,

(Sgd.) JULIUS REY D.KUTAT (Sgd.) DIAMONA J. ARIMAO Researcher

NOTED: (Sgd.)Dr. LOURDES S. ARCILLA Adviser

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Appendix 3.Survey Questionnaire SURVEY QUESTIONNAIRE I. Socio-Economic profile of the respondents. INSTRUCTION: Please write or check your answer on the space provided. A. Personal profile Respondents Name: Address: Date: ________________________________ Gender: ( ) Male ( ) Females Civil Status ( ) Single ( ) Married ( ) Widow/Widower Age: ( ) 16-20 ( ) 21-25 ( ) 26-30 ( ) More than 30 Religion: ( ) Catholic ( ) Adventist ( ) Baptist ( ) Islam ( ) Dating Daan ( ) Born Again ( ) Iglesia Ni Cristo ( ) Methodist ( ) Jehovah Witnesses ( ) Jesus is Lord ( ) Others, Please Specify _________________________________ College Level: ( ) 1st ( ) 2nd

( ) 3rd( ) 4th ( ) 5th Scholarship Granted: ( ) PESAPSO ( ) Varsity Scholar ( ) Library Assistant ( ) Socrates Scholar

( ) Student Assistant ( ) LGU Scholar ( ) Others, Please. Specify:

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College Department ( ) College of Teacher Education

Course _____

Year _____ _____ _____

( ) College of Engineering, Architecture and Technology _____ ( ) College of Arts and Sciences ( ) College of Business, Economics, and Management ( ) College of Agriculture ( ) College of Community Development _____ _____ _____ _____ _____ _____ _____

_____

( ) College of Forestry and Environmental Sciences

_____

Organization Affiliated: ( ) Ssc ( ) Church ( ) Club ( ) Fraternities

( ) Company ( ) Others, Please specify:

What are your Special Skill? (Please check) ( ( ( ( ( ) Dancing ) Singing ) Makeup artist ) Choreographer ) Others, Please Specify: _________________________________ _________________________________

Mothers Occupation: Fathers Occupation: No. Of Siblings:

Land Owned by Family: ___________________________________ Sources of Family Income ( ) Salary ( ) Business ( ) Others, Please Specify _____________________________________ Estimated Monthly Family Income: ________________

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What are the benefits you gained in your work? ( ) Allowance ( ) Scholarship ( ) Others, Please Specify: Reasons for Studying in Western Philippines University: ( ) High quality of education ( ) Own Choice ( ) Low Tuition Fee

( ) Parents Choice ( ) Distance of school from home

Reasons of deciding to be a self supporting student: ( ) To have an additional Allowance (Financial problem) ( ) Job experience ( ) Additional family income ( ) Absence of Parents ( ) Increase in Family size ( ) To provide School/Personal Needs

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II.

Financial Crises that affect the working students and how they are affected.

ISTRUCTIONS: Level of students facing financial crisis 5 ( )Personal expenses ( ) School needs ( ) Payment of dues for the organization ( ) Payment for tuition fees ( ) Renting of boarding house ( ) Food allowance 4 3 2 1

5- Always affected 4- Sometimes affected 3- Too much affected 2- Not affected 1- Never affected

Did you manage your financial needs? ( ) Yes ( ) No

Why? ________________________________________________.

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III.

Financial crises management strategies of the respondents: ( ) Acted as Student Assistant ( ) Acted as Library Assistant ( ) Accepting as Dance Trainer ( ) Accepting Laundry ( ) Accept encoding ( ) Part time Sales girl/Boy ( ) Part time driver ( ) Caretaker ( ) Baby sitter ( ) Fishing ( ) Other, Please Specify: Problems encountered by the respondents in managing financial crises: INSTRUCTION: check on the space provided. ( ( ( ( ( ( ( ( ) No time to rest ) Lack of sleep ) No time to do work ) No time for texting ) No time to submit the requirements on time ) Inability to pay tuition fees on time ) No time for hang out with friends ) Others, Please Specify:

IV.

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