RRL

Geiger, R. (2010). Impact of the Financial Crisis on Higher Education in the United States.
International Higher Education, Cited September 14, 2022, from:
https://ejournals.bc.edu/index.php/ihe/article/view/8486

The goal of this study is to determine the impacts of economic crisis specifically in 2008–
2009 that brought precipitous declines in almost all classes of financial assets and a
contraction of economic activity. Colleges and universities were forced to adjust to a
variety of shortfalls in anticipated revenues, but deeper structural changes were
virtually impossible. The author conducted that the academic research and graduate
education have endured the crisis better than other sectors, but here the danger lies in
the not-too-distant future. The most distinguished universities, which largely support
scientific excellence, have ceased to expand their research capacity, and this strategy
has ominous implications. Federal research funding has been artificially inflated with
stimulus funds. This has buoyed academic research for the current year or two, but
cutbacks almost certainly lie in the future. If public support for research declines in the
way public support for higher education has, the future will indeed be bleak.

Meniah Ann Martha C. Galanza, John Jamir Benzon R. Aruta, Niño Jose Mateo, Ron R.
Resurreccion & Allan B. I. Bernardo (2021) Mental health of Filipino university students
during the COVID-19 pandemic: the distinct associations of fear of COVID-19 and financial
difficulties, Educational and Developmental Psychologist, Cited September 14, 2022, from:
https://www.tandfonline.com/doi/abs/10.1080/20590776.2021.1999168

The study examined the role of fear of COVID-19 and of financial difficulties in the family
on the positive (flourishing and satisfaction with life) and negative (depression, anxiety,
and stress) dimensions of mental health among a Filipino university student sample
during the COVID-19 crisis. The researchers conclude that COVID-19 is associated with
students’ negative mental health, their financial concerns have a wider ranging association
with positive and negative mental health. Mental health services must address the
psychological consequences of the COVID-19 pandemic on university students, such as
the more basic financial difficulties of some students and their families.
Srinisha, M.; Gayathri, R.; Vishnu Priya, V. (2018) Effects of economic crisis on academic
performance of school students - A survey, Cited September 14, 2022, from:
https://tinyurl.com/mpjp53ww

The proponents conducted a survey to prove that the economic crisis has an impact to
the students’ academic performance. Adults in the family that are hit with a financial
crisis, which also impact their children. Such conditions have an adverse effect on
children's educational outcomes such as school enrollment, attainment, attendance, and
performance. Materials and Methods: A study was carried out among 109 school
students. 15 questions were given to each of them. The questionnaire was given
individually to each of them to avoid discussion among them and also to avoid false
results, thereby no bias is evidenced in this study. Each of them was given 1 h to complete
the questionnaire. The data were statistically analyzed. Results: From this survey, we
come to know that economic crisis has an adverse effect on academic performance of
school students. Conclusion: Economic crisis results in various physiological and
psychological disorders among school going children which, in turn, has a negative impact
on their academic performance too.

Shores, K. & Steinberg, M. (2017) The Impact of the Great Recession on Student
Achievement: Evidence from Population Data, Cited September 14, 2022, from:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3026151

The goal of the study is to determine the impact of the “Great Recession” on the students’
achievement by using the newly available population-level achievement data made from
the Stanford Education Data Archive. The Great Recession was the most severe economic
downturn in the United States since the Great Depression. Employing a difference-in-
differences strategy that leverages both cross-district variation in the economic shock of
the recession and within-district, cross-cohort variation in school-age years of exposure to
the recession, we find that the onset of the Great Recession significantly reduced student
math and ELA achievement. The academic impact of the recession was more severe for
students who were older at the time of first exposure to the recession, compared to their
younger counterparts. The researchers also discuss the implications of and potential
policy responses to economic shocks that adversely affect student achievement and
widen educational inequality.

Donna Jessop, Carolina Herberts & Lucy Solomon (2010) The impact of financial
circumstances on student health, Cited September 14, 2022, from:
https://bpspsychub.onlinelibrary.wiley.com/doi/abs/10.1348/135910705X25480
The objective of this study is for the researchers to explore the impact of students'
financial circumstances on their mental and physical health. An opportunity sample
gathering around 89 British students and 98 Finnish students completed a questionnaire
which assessed their amount of debt, financial concerns, mental and physical health,
smoking and drinking behaviors, work in addition to study, and perceptions of control.
British students reported greater levels of debt and financial concern than Finnish
students. They also reported significantly worse mental and physical health on a variety of
dimensions. Financial concern was a significant linear predictor of mental and physical
health, with increased financial concern being consistently associated with worse health.
The researchers conclude that students' financial circumstances have serious implications
for their health. It is proposed, therefore, that recent changes in government funding
policies for students could have a negative impact on student health and exacerbate
finance-related health inequalities.