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Financial well-being and academic performance of college students

Abstract:

Introduction: Academic performance is an integral category, which depends on various factors of socioeconomic, school, family situation, cultural and financial level. Specifically, financial well-being can explain the academic performance levels of university students. Objective: To determine if there is a significant relationship between financial well-being and academic performance of students at the University of Armed Forces ESPE. Methods: A descriptive correlational research was conducted. A survey was applied to a significant sample of students from sixth to ninth grade of all the careers of the Universidad de las Fuerzas Armadas ESPE, Ecuador. The analysis of the results was carried out using descriptive and inferential statistical techniques. Results: A low financial well-being of students was determined, as well as dependency relationships and significant correlations between several indicators related to financial well-being and academic performance, which denoted that this was one of the variables that explain the pedagogical category in the context of the university studied. Conclusions: The relationships between the variables studied indicate that financial well-being influences the academic performance of students at the University of the Armed Forces ESPE, which poses great challenges for planning and public policy according to the demands of Ecuadorian society and economy, and specifically in the field of higher education.