Financial skills are becoming essential for student survival
Across many countries, college students face increasing financial pressure from tuition fees, housing costs, and daily expenses. In this environment, financial literacy is no longer optional—it has become a life skill that shapes students’ well-being and academic success.
Students who understand budgeting, saving, debt, and financial planning are more likely to avoid financial stress and maintain stability throughout their studies. The Philippine study highlights that financial knowledge also strengthens independence, helping students rely less on external support while developing confidence in their decision-making.
How the study was conducted
The research used a descriptive correlational design to examine how financial literacy relates to self-sustainability among college students. The study took place at San Isidro College in the Philippines and included 99 students from different academic departments and year levels.
Participants were selected using stratified random sampling to ensure balanced representation across programs. Data were collected through structured questionnaires that measured students’ financial literacy—including budgeting, saving, debt awareness, and decision-making—and their level of self-sustainability in managing academic responsibilities, finances, and daily routines.
The researchers analyzed the results using descriptive statistics and correlation analysis to determine whether a meaningful relationship existed between financial knowledge and student independence.
Key findings from the research
The results reveal a strong connection between financial competence and student stability:
- College students demonstrate high levels of financial literacy across budgeting, saving, and decision-making skills.
- Students also show very strong self-sustainability, including financial independence, academic responsibility, and emotional resilience.
- There is a statistically significant positive relationship between financial literacy and self-sustainability.
- Students with stronger financial knowledge tend to be more confident, stable, and independent.
The correlation results indicate a moderately positive relationship, confirming that better financial literacy is associated with stronger student independence and capacity to manage college life effectively.
Why financial literacy influences student development
According to the research team from San Isidro College, financial literacy equips students with practical tools to plan expenses, control spending, and prepare for future responsibilities. These abilities reduce financial stress and allow students to focus on academic achievement and personal growth.
Financial knowledge also contributes to psychological resilience. Students who manage money effectively tend to feel more secure and in control, strengthening their ability to handle academic challenges and everyday responsibilities.
Implications for universities and policymakers
The study provides several important insights for higher education institutions.
Universities may improve student success rates by strengthening financial literacy programs, workshops, or courses that teach budgeting, saving, and responsible financial decision-making. Such programs could help students remain financially stable and reduce dropout risks related to economic pressure.
For policymakers, the findings support the integration of financial education into student development strategies. Promoting financial literacy at the institutional level may enhance long-term workforce readiness, economic stability, and responsible citizenship.
Academic insight from the authors
The San Isidro College researchers emphasize that financial literacy is more than a technical skill; it forms part of students’ overall development. By strengthening financial knowledge, students gain the confidence and independence needed to navigate college life and transition successfully into adulthood.
Author profiles
Lealyn B. Segayo is an academic researcher at San Isidro College in the Philippines whose work focuses on education, student development, and financial literacy.
Marielle N. Mapait, Coline Kee S. Soriano, Nicole Keth S. Soriano, Kent Lawrence T. Galido, Archelle S. Tulang, Nimfa A. Acodili, and Evan P. Taja-on are researchers affiliated with San Isidro College specializing in student behavior, financial awareness, and educational development.
Their collaborative research examines how life skills such as financial literacy influence academic success and personal independence among college students.
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