CHAPTER 1

PROBLEM AND ITS BACKGROUNDS

Introduction
Education is a fundamental right of all people and plays an important role in shaping
the future of the younger generation. However, the cost of education has become a
major concern for students and parents. Last 2012, K-12 curriculum has been
implemented, adding two years of Senior High School education. One of the strands
in this program is Home Economics, which aims to develop students’ technical skills
through various activities, training, and teaching-learning sessions. This causes
additional expenses for the students and their parents.

Home Economics is likely a course or subject that focuses on teaching students’

useful life skills relating to managing their homes, finances, and personal well-being
in Grade 11 at Our Lady of Lourdes College. The course may cover a variety of
subjects, including personal finance, consumer economics, household management,
cooking, food planning, and nutrition. Several students are experiencing financial
difficulties as a result of the large range of courses offered. Bread and pastry and
food and beverage services are the specialized studies in home economics for grade
11 students at Our Lady of Lourdes College; both have expenses in order to conduct
all the practical activities. This might result in unstable financial stability for the
students.

This problem affects the students themselves because of the stress that results from
school expenses. et al. (2017) found that student loan is cause of financial stress.
This will also affect their academic performance. According to Halliday Wynes,
(2014), a student financial position will affect their commitment in learning which
will affect their academic performance. The parents of the students are also involved
in this problem because of their financial support for their child. The researchers
believe that parents have an effect on this problem because they are the ones who
provide financial resources for their children.

Support is the way to solve this issue. Scholarships and grants can assist students
reduce their financial load by covering some or all of their tuition and other
expenses. Additionally, creating a budget plan would help the students plan their
next expenses. Create an emergency fund to safeguard yourself from unforeseen
events, and concentrate on budgeting to keep track of your spending. This can help
them to stay on a budget but still manage to provide their needs.

The researchers are conducting this study because of these reasons:

1. To better understand the financial behaviors and practices of Grade 11 Home
Economics students at OLLC: The study could look into how the students
handle their money, their spending and saving habits, and their financial
stability.
2. Identify financial issues: The research can assist in identifying financial
challenges experienced by Our Lady of Lourdes College grade 11 Home
Economics students. This can provide insights into the underlying causes of
financial instability, such as high living costs, a lack of financial awareness, or
insufficient income.
3. Improve academic performance: Financial instability can have a negative
impact on academic achievement. Understanding the financial issues that
grade 11 Home Economics students of OLLC encounter may enable us to
provide assistance that may help them enhance their academic success.

Overall, conducting this research could provide Grade 11 Home Economics students
of OLLC insights into students’ financial issues and their behaviors and practices on
how they handle their money.

In conducting this research, there are a few potential results that the researcher
believes; these are some of the potential results:
1. Financial learnings for the students: Financial knowledge will help students
to learn about the financial concept like budgeting, saving, control, and
managing.
2. Financial Awareness: Awareness about the Financial Instability of every
Grade 11 Home Economics Students of OLLC and the behaviors of their
expenses.
3. Reduce the financial stress: When you have financial stability, you can focus
your efforts on other areas of your life since you don’t have to worry about
money.
This study aims to determine the impacts of school expenses on the financial
stability of Grade 11-Home Economics students at OLLC. Also, it aims to give
everyone awareness of not only the financial instability of grade 11 home economics
students but also to prevent them from having another financial problem by having
the necessary skills to manage their finances.