Research Method for Understanding Monetary Stress Among College Students

RESEARCH METHOD

Contents
Introduction......................................................................................................................................2
Method.............................................................................................................................................4
Collecting Data through Survey..................................................................................................4
Results..............................................................................................................................................7
Convergent and discriminant validity............................................................................................13
Discussion......................................................................................................................................14
References......................................................................................................................................20
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Introduction
There are a lot fewer limitations in the college phase of life than what used to be in previous
generations. More liberty is given to collegiate students and with liberty comes obligations. The
person is obliged to share a load of responsibilities with the elders of the family which they have
not till the age. A lot of student’s own obligations and work was taken care by the elders of the
family, but with the change in the era, a lot of responsibilities of the students are now handled by
the students themselves. Which includes, monetary obligations, lifestyle maintenance, daily basic
needs and to some extent college course fees too. Monetary independence to take care of
personal needs is becoming an essential factor of student’s college lifecycle.
The sudden change in the load of obligation can become somewhat baffling as student needs to
monitor their own funds and expenses. Particularly, if they have no prior knowledge and
experience to do the same. Critically monitoring and managing the spendings of available funds
to meets the needs and leisure is very important and can also be troublesome and stressful for the
college student who also has the responsibility of college studies.
To help students cope with the pressure of increasing responsibilities, the college counselors and
administrators, in the whole nation, has introduced ‘student wellness’ as a part of the curriculum.
The enhanced inspection of the graduation percentage from central and state-level authorities
should prompt the college administration to concede the reasons for pressure within the student
community as the responsibility pressure has proven to be creating hurdle in student’s
perseverance. Education loan is becoming a strenuous topic for collegiates and fresh graduates as
it is difficult to manage own finances along with the studies or immediately getting a job as fresh
graduate. The academic conditions encompassing the college scholarship decision have shifted
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noticeably as donations and various other modes of funding assistance have not maintained the
tempo with the accelerated rise in the education percentage. This has caused the rise in the
number of students applying for education loans to meet their educational expenses. The phrase
‘working your way through college’ has long since become impractical considering the tuition
fees have grown quicker than the inflation rate in recent years.
Study concerning the origins of pressure strengthens the substantial part that individual monetary
dilemmas present in the students’ lives. Monetary challenges are frequently noticed with the
college students as the origin of tension. The research focuses to collect more data to get more
information about the circumstances linked with the monetary tension with the college students.
This is the primary stage in recognizing the factors of monetary tension with the college students
and will contribute relevant data to college administration and professionals of monetary
counseling and therapy.
Comprehending the circumstances of monetary tension can help in recognizing students
bordering the risk and conduct exercises to reduce monetary tension with them. Moreover, the
recognition of elements linked with the grown possibility of monetary tension will help
professionals and researchers in understanding the problems and conditions that are particularly
prominent with the college students. Encountering monetary tension through college lifecycle
can produce a long-lasting effect on user wellness.
Finally, since the therapeutically approach to college financing is a modern exercise, the study
offers a novel logical structure established on the idea of accommodation the can be beneficial in
the application of monetary counseling and therapy.
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Method
Participant’s selection is the main process in the research process. It involves the process of
selecting the appropriate respondents based on the research requirements. If you talk about the
participant selection age, gender, ethnicity, and employment are the major factors. From these
values, we can know about the research population. When considering the age group of
participants almost all of them are blogs 17 to 25 age group. Also, the female population is quite
higher than the male population in this research. Most of the respondents are Pkeh. Nearly 70 %
of the population are Pkeh in this research.
Collecting Data through Survey
There are different methods of data collection. In this part of the report, the survey method of
data collection is used. Questionnaire or set of questions is the most important aspect of the
survey method. The correct set of questions helps in collection of right data for research and
analysis. To gather correct and relevant information, the questions should be easily
understandable, qualitative, and appropriate in nature and should not be time-consuming or
lengthy.
Arithmetical Analysis
Analyzing Frequency
Descriptive statistics means the analysis of quantitatively representing properties of a data set. A
part of descriptive statistics consists of ‘Frequency Analysis’. Statistically, frequency means
repetition of an event i.e number of repentance of the event. Frequency Analysis is a significant
section of statistics that administers the repeat quantity of events and examines the concepts in
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statistics like Measures of Central Tendency, Dispersion, Percentiles, etc. It helps in representing
the entire data set by providing a central value from the given set of data. Mean, Median and
Mode are the most common functions in ‘Measures of Central Tendency’ that are applied to
calculate frequency. ‘Mean’ represents the average of values of the given data set, ‘Median’
represents the middle value of the data set, and ‘Mode’ represents the value that repeats the most
in the given data set.
Correlation coefficient by Pearson
‘Pearson’s correlation coefficient’ function calculates the arithmetic dependence or connection
between two consecutive elements. This method of calculation is formed with the basis of
covariance and is recognized as one of the best methods for calculation of arithmetic correlation.
This method provides the required data regarding the breadth of correlation or dependence along
with the path of the correlation.
Cronbach’s Alpha for Reliability Testing
‘Cronbach’s Alpha’ measures the internal relationship between the values from the data set as a
collection which is known as ‘internal consistency’. This function is recognized as a measure of
scale authenticity or reliability. It can not be proved that the range of measures is on one
dimension even if the value is ‘high’ for the ‘Cronbach’s Alpha’. To prove that the provided
range is on one dimension, supplementary analysis needs to be conducted along with the
calculation of internal consistency. ‘Explorative Factor Analysis’ is recognized as the technique
for inspecting dimensions. In technical terms, ‘Cronbach’s Alpha’ is not an arithmetic test but a
coefficient of consistency and reliability.
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