A B S T R A C T

Title

FINANCIAL MANAGEMENT OF THE STUDENTS IN MARINERS POLYTECHNIC COLLEGES FOUNDATION DOROL, Emily A. Unpublished Masters Thesis

Researcher

Type of Document :

The significant findings on assessment of the financial management of

the

students in Mariners Polytechnic Colleges Foundation (MPCF) in Legazpi City for academic year 2010-2011 are presented in this chapter. Specifically, the answers

to the following sub-problems: (1) What is the profile of the students of MPCF in terms of age, sex, civil status, and number of persons in the house-hold? (2) What are the expenses of the student respondents? (3) What are the sources of their allowance? (4) What financial difficulties do they encounter in their financial management? (5) What financial assistance may be designed to help the MPCF students? Respondents consisted of the selected BSME, BSCA, BSHRM, BSHM, BSMT and BSMarE students of Mariners Polytechnic Colleges Foundation. The respondents were the 30 randomly selected students per program and/or year level. This refers to first to third year BSME, BSCA, BSHRM, BSHM, BSMT and BSMarE students in Mariners Polytechnic Colleges Foundation for academic year 2010-11. Frequency

count, weighted mean, percentage and rank statistics were computed using MS Excel.

vi Some of the findings of the study are:

1a. The eighteen years old got the highest frequency of 48 students followed by 19 (41), 17 (24), 20 (16), 16 (10), 21 (6), 23 (3), 25 and 28 (1) the lowest frequency. 1b. The college student respondents constituted 62 males (41.33%) and 88 females (58.66%) or male:female ratio of 2:3. 1c. On civil status, 149 students are single and one is married. 1d. The number of persons in the household ranges from 4 to 6 got the highest frequency of 85, followed by 7 to 9 (38), 1 to 3 (16) while the lowest 10 (9). 2a. Cost of breakfast of the students ranges from Php 10-50 (133 or86.67%), 51 to 99 (12 or 8.00%) and 100 and above (5 or 3.33%). For snacks, Php 10-50 (61.33%), 51 to 49 (46 or 30.67%) and 50 and above (12 or 8.00%). Lunch cost them from Php 0 to 50 (89 or 59.33%), 51 to 99 (48 or 32.00%) and 100 and above (13 or 8.67%). was more than

2b. Expenses for clothing of the students range from Php 399 and below (74 or 49.33%), 400 to 699 (33 or 22.00%), 700 to 800 (19 or 12..67%) and 1,000 and above (24 or 16.00%). For medicine, they indicated Php 399 and below (94 or 62.67%), 400 to 699 (16 or 10.67%), 700 to 800 (7 or 4.67%) and 1,000 and above (33 or 22.00%). School materials expenses of the students were Php 399 and below (93 or 62.00%), 400 to 699 (22 or 14.67%), 700 to 800 (13 or 8.67%) and 1,000 and above (22 or 14.67.00%) in that sequence. 2c. Other expenses referring to school contributions ranges from Php 399 vii

and below (102 or 68.00%), 400 to 699 (18 or 12.00%), 700 to 800 (11 or 7.337%) and 1,000 and above (19 or 12.67%). For gimmicks, some spent Php 399 and below (83 or 55.34%), 400 to 699 (22 or 14.67%), 700 to 800 (17 or 11.33%) and 1,000 and above (28 or 18.67%). For computer games, expenses ranging from Php 399 and below (101 or 67.33%), 400 to 699 (13 or 8.67%), 700 to 800 (6 or 4.00%) and 1,000 and above (30 or 20.00%), respectively. 3a. The amount of Php 1,000 and below yielded the highest frequency students followed by Php 2,000 to 6,000 (21), Php 7,000 to 9,000 (8) Php 10,000 (5) on weekly basis. 3b. Incidental allowances during birthday the highest frequency was Php1000 and below wit 80 respondents followed by Php 2,000 to 6,000 (42) and Php 10,000 and above (20). On Valentines Day,the highest frequency was in Php 1,000 and below (98), followed by Php10,000 and above (42), Php 2,000-8,000 (8) while the lowest ranges from Php 7,000 to 9,000 (2). 4. The difficulties that were seldom encountered by more than half of the of 116

and the lowest

students are: (1) Does not know how to budget, 91 or 60.67 percent; (2) Unable to pay school fees in full, 87 or 58.00 percent; (3) Average monthly allowance ones needs, encountered. 5. Some of the financial assistance are: (1) Encourage high school graduates to avail on the financial assistance to private education and budgetary appropriations to State Universities and Colleges. (2) Avail on Student Loan Program -- Study Now Pay Later Plan (SNPLP), Educational Loan Fund (ELF), 87 or 58.00 percent. is lacking for

Most of these difficulties were also always

viii Government Assistance for Students and Teachers of Private Education (4) Adapt the Columbian Student Loan Institute. (5) Family Design. On the basis of the findings, the following conclusions are deduced: 1. Majority of the student respondents of MPCF are 18 years-old, female, single and from 4-6 persons in the household. 2. Most of the students expenses for food ranges from P10-50 while clothing, medicine, school materials, school contributions and gimmick, P399 below, the lowest predetermined expenses. 3. Majority of students regular and incidental allowance was P1,000 below. 4. The financial assistance to help the MPCF students are: avail on financial assistance to private education and Government Assistance for Students and Teachers for Private Education (GASTPE); Work as Student Assistance (SA), Mariners Style and Adopt the Columbian Student Loan Institute (ICETEX). In the light of the significant findings and conclusions of the study, the following recommendations are presented to the administrator for consideration: 1. Encourage incoming students to attend the orientation program that they Likewise,

would be aware on school policies particularly on financial budgeting.

conduct reorientation for the second year to fourth year students for financial budgeting. 2. Conduct a seminar-workshop on financial management participated in by the students and parents in order to know the typical expenses of a student in ix

MPCF. It would create an awareness for the parents/guardians and guidance counselor of the possible expenses in different level and different program. 3. Require students to submit their weekly/monthly financial budget to the MPCF guidance counselor for counseling purposes. 4. Parents/guardians and guidance counselor should be aware and avail the best government assistance to the selected students the best scholarship suited to the students potential and interest. School administrators, guidance counselors would

inform students of the availability of different scholarships offered by the government and other business sectors and non-government organization.