SCHOOL FINANCE AND STUDENTS’ ACADEMIC PERFORMANCE

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SCHOOL FINANCE AND STUDENTS’ ACADEMIC PERFORMANCE

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

The relative importance of the amount of social resources and the diversity of social resources to students learning cannot be empirically judged. This implies the role finance play in students’ academic performance as far as education is concerned. The National Policy on Education (NPE) (2004) section 13 sub sections 120, assert that:

“Education is an expensive social service and requires adequate financial provision from all tiers of government for successful implementation of the educational programmes”

The government of Nigeria realized the crucial role of education on the life and growth of human resources, and hence the need for adequate financial commitment from all the three tiers of government for effective implementation of educational programmes in Nigeria. The importance of parent’s financial background, the teachers commitment level and peer group influence in student’s academic achievement cannot be ignored. And as such, the odds are stacked high against learners from a deprived socio-economic background to curb with the demand for facilities necessary to facilitate their academic pursuit. A student whose parents are illiterate and earn low income, who has no access to the electronic media for information, no educated sibling or peers to learn from, faces an uphill task in his educational pursuit. That task is even more difficult if the learner lives in an obscure rural area where he is cut off from modern civilization. Cannot be compared with a students from an academically enriched background, whose parents are learned and financially stable, who can readily provide whatever the student needs to enhance his/her learning process will be better off. It is unfair that learners from different background should face the same competition for admission into both post secondary and post primary institutions.

According to Sander (2012), he was able to note that Many Americans are caught up in the economic downturn, and college students are often worried about money, this financial worry may affect their academic performance, due to divided attention. When they are concern about the availability of learning materials, as well as their daily upkeep in school. Dubey (1984), asserted that “child’s academic achievement suppose to be determined by the child”, incidentally, the child’s performance today in schools depend on how much attention he earns from his parent, the nature of school, the environment and peer group influence among others. For now, it is too common to find out that children who belong to the family of high socio-economic background would do better in academic achievement. Satisfying the child’s basic needs such as books, (text and notes), cloths, transportation, feeding among others would give such child the confidence to perform better, comparing with a child from the family of low socioeconomic background who would find it hard to cope without such basic necessities may result in poor performance even though not in all cases.

The responsibility of training a child always lies in the hand of the parents. This is congruent with the common assertion by sociologist, that education can be an instrument of cultural change which is being taught from home. It is not out of place to imagine that parental socio-economic background can have possible effects on the academic achievement of children in school. Nonetheless, children physical environment affect their education or disposition to it. Parental status is one of such variables, just like when a woman’s nutritional status improves, so does the nutrition of her young children (Lisa et al., 2003).

Rothstein asserted as follows:

“Parents of different occupation classes often have different styles of child rearing, different ways of disciplining their children and different ways reacting to their children need. These differences do not express themselves consistently as expected in the case of every family; rather they influence the average tendencies of families for different occupational classes”.(Rothstein, 2014).

Hill et al., (2004) also argued that the financial status of parents do not only affect the academic performance of the child, but also makes it impossible for the child to compete with his counterpart from high financial status under the same academic environment. Furthermore, Smith, Fagan and Ulvund (2002) asserted that significant predictor of intellectual performance of a child at age of 8 years, included parental socio-economic status. Other researchers had posited that parental financial status could affect school children as to bring about flexibility to adjustment to the different school schedules (Guerin et al., 2001). In another finding, Oni (2007) and Omoegun (2007) had averred that there is significant difference between the rates of deviant behaviour among students from high and low socio-economic status.

Adelma, (1999), categorically stated that “Unfortunately, low income students are more likely to posses high risk characteristics than even undergraduates”. In his findings, twothird of low-income beginning students came from families in which neither of the parents attended college, compared with one-third of middle and upper income students. Conversely, 50 percent of middle and upper income students have at least one of the parents who earned a bachelor’s degree or higher, compared with less than 20 percent of low income students. And this implies that children who enrol in schools are more likely to drop out of school, because the first generation college students from low socioeconomic status family, face many disadvantages, like: they have far less experience and information on the social and academic culture of higher education, and they may not be able to rely on their parents for assistance in these matters.

Base on the National Policy on Education, 2004, “The government’s ultimate goal is to make education free at all levels”, as such the financing of education is a joint responsibility of the federal, state and local government as well as private sectors. In this regards, government welcomes and encourages the participation of local communities, individual philanthropist and non-governmental organization. This point out the unique role played by finance, in educating an individual, notwithstanding the environmental factors and individual intelligence quotient which influences and determine the level of academic performance of an individual.

The financing of education is a popular opinion, it is the true domain of the economist, first, educators decide what is to be done and the economist works out how much money is to be raised. From this point of view, the structure and the character of the educational system rest on. It does not matter whether education is financed centrally or locally, publicly or privately, solely out of taxes or taxes supplemented by user charges. The particular way in which education is financed largely determines who will be educated and in what fashion.

Furthermore, financial questions come not after, but before the critical planning decision. It is precisely in the areas of finance that so many of the nobler aims of education are defeated (Blaug, 1976).

Pandit (1970) defined cost of education as

“The monetary value of resources used up in the production of human capital during a given period of time”.

Longe, (1982) added that the concept of cost is in relation to the three investment decision-making bodies on education, the institutional, household and the society. Hence, the sum which give rise to total cost of education. The private cost comprises the money household or any private institutions investment in education as well as the students opportunity cost of being in school. Takur et al (1950) noted that, school financing policies of a nation, are a reflection of the value choices of the people. This implies the order of priorities in which individuals, as well as the nation established in the allocation of their limited available resources and their political philosophy, tells how far the education system will go. It is also believed that adequate investment in educating younger generation is essential in economic growth of a nation. Expenditure on education is an investment in the long run, which will indeed yield better returns in the future.

The cost of education should not be restricted to either parents (who have children) or the government alone but a share responsibility between the government, private sector and organization. UNESCO (1984) in Lomak (2002) also established this fact that financing of secondary education should be the responsibility of both public and private sectors. Hence, the study aimed at finding out the impact of finance on students’ academic performance in economics in some selected secondary schools in Akwanga L.G.A, Nassarawa State.

1.2 Statement of the problem

There may have been previous researches in this subject. This work gives further explanations and analysis in school finance and students’ academic performancein public senior secondary schools in ibadan south west local government

1.3 Objectives of the study

1. To understand the relationship between school finance and students’ academic

2. To understand the impact of school finance on students’ academic performance

1.4 Research questions

1. What is the relationship between school finance and students’ academic

2. What is the impact of school finance on students’ academic performance

1.5 Purpose of the study

The general purpose of this study is to investigate the extent to which finance has impact in secondary school students’ performance in economics. Specifically the study intends to:

• Find out the impact of finance on the academic achievement of secondary school students in economics.

• Find out whether parental socioeconomic status determined the students’ academic achievement.

• Examine the extent to which learning environment is linked to students’ academic performance in economics.

1.6 HYPOTHESES

The following hypotheses have been formulated to guide the researchers in this study, they are as follows:

1. H : There is no significant difference in the academic achievement of students from low socio-economic background and those from high socio economic background.

2. H : There is no significant difference in the choice of school between students with low financial status and those with high financial status.

3. H : There is no significant difference in the availability of educational materials for students with academic enriched background and those with poor academic background.

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