ST.

THERESE ACADEMY

ILIGAN MULTI SKILL DEVELOPMENT INSTITUTE INC.

AS PARTIAL FULFILLMENT TO THE SUBJECT

PRACTICAL RESEARCH 2

(QUANTITATIVE RESEARCH)

EFFECTS OF FINANCIAL INSTABILITY DURING MODULAR DISTANCE LEARNING

OF GRADE 11 ABM STUDENTS AT ST. THERESE ACADEMY S.Y. 2021-2022

SUBMITTED TO:

SIR. TITO PANCRUDO JR.

SUBMITTED BY:

GROUP 9

1. JANNISAH PALO 12 / ABM

2. JUNAISAH ADAPUN 12 / ABM
3. JANNAH FARINA TAHER 12 / ABM
4. SOHAYA MACABANTOG 12 / ABM
5. SITTIE ONAISAH MAMANGCAO 12 / ABM
6. HARLEY CABASAGAN 12 / ABM

JANUARY 2022
 I. ACKNOWLEDGEMENT

The researchers would like to thank the following persons who in one way or another
have helped in the completion of this research paper.

To our Practical Research 2 teacher, Sir Tito Pancrudo Jr. for helping us in formulating
the research title.

To our adviser Sir Marlon Baslot for his patience in reading, helping, and checking our
paper.

To the grade 11 ABM adviser, Ms.Ricca Mae Pradia for allowing us to survey her
students that helped us to complete our research.

To all respondents which is the grade 11 ABM students for answering our questionnaire.

To our parents and siblings for their moral and financial support.

And most importantly, our deepest gratitude to our almighty God for the love, wisdom,
strength, courage, and blessings to us.
 I. TABLE OF CONTENTS

Title Page 1
Acknowledgement 2
Introduction 4-5
Review of Related Literature 6-7
Statement of the Problem 8
Scope and Limitation 8
Body 9-10
Conceptual Framework
Methodological Procedures
Findings 11-17
Data Analysis
Graphs and Diagrams
Discussions
Recommendations 18
Conclusions 18
References 19
 II. INTRODUCTION

This study talks about the EFFECTS OF FINANCIAL INSTABILITY DURING MODULAR
DISTANCE LEARNING OF GRADE 11 ABM STUDENTS AT ST. THERESE ACADEMY
S.Y. 2021-2022. The coronavirus disease 2019 (COVID-19) crisis has impacted not only the
economic, psychological, and social aspects of the world but also particularly, the educational
sector to a great extent. The virus, which first emerged in December 2019, became a pandemic
leading to school closures and eventually, migration to remote learning by all levels of
educational institutions in the new normal education. Thus, the traditional delivery of instruction
in education has transformed and in turn, learning spaces were re-organized. On the other hand,
the COVID-19 health crisis also has turned into a global economic crisis, putting at risk the
health, jobs and incomes of millions of people around the world. The strict containment
measures adopted by many countries first half of 2020 to flatten the rise in contagion put a
substantial brake on most economic and social activities. The collapses in total hours worked,
and the decline in participation, have not been seen in peacetime since the Great Depression.

BACKGROUND OF THE STUDY

Financial instability is also known as financial distress or financial problems. Financial

instability means current or impending financial conditions that impair or may impair the ability
of a provider to meet existing or future obligations. Economic hardships and financial instability
can have devastating effects on families during this ongoing pandemic. The effect of COVID-19
crisis on the economy has been huge. National income fell by 20% in April 2020, to a level last
seen in the early 2000s. The impact of this vast aggregate shock on the finances of different
households will vary widely. Some individuals have lost their job, others have been furloughed,
some found re-employment elsewhere, and others have found their livelihoods to be entirely
robust to social distancing. Now-a-days, most families are still struggling to meet their basic
needs, one of which is the basic financial support for their child’s educational needs during the
new normal education.

According to Hayes (2021), Financial instability is a condition in which a company or

individual cannot generate sufficient revenues or income, making it unable to meet or pay its
financial obligations. This is generally due to high fixed costs, a large degree of illiquid assets, or
revenues sensitive to economic downturns. For individuals, financial instability can arise from
poor budgeting, overspending, too high of a debt load lawsuit, or loss of employment. If a
company or individual experiences a period of time when it cannot pay its debts, bills, and other
obligations by their due date, they are likely experiencing financial instability.

Based on other studies, financial worry is one of the most common stressors in modern
life. With the recent economic difficulties catalyzed by the COVID-19 pandemic, many more
individuals are now facing financial struggles and hardship. Financial stress is the emotional
tension that is specifically related to finance. It is commonly experienced by those who are
financially unstable. According to Scott (2021), financial stress is defined as a condition that is
the result of financial and/or economic events that create anxiety, worry, or a sense of scarcity,
and is accompanied by physiological stress response.

With many families experiencing financial instability, it is not avoidable for students to
experience financial stress due to lack of financial support. According to Medina (2013),
financial hardship may directly influence a person’s cognitive ability, which is known as the
process of acquiring knowledge and understanding through thought, experience, and the senses.
Like any source of overwhelming stress, financial problems can take a huge toll on an
individual’s mental and physical health, relationships, and overall quality of life which can
adversely impact their sleep, self-esteem, and energy levels. Having these kinds of symptoms can
result to poor academic performance for students experiencing financial problems.

The COVID-19 pandemic has created the largest disruption of education systems in
human history, affecting nearly 1.6 billion learners in more than 200 countries. Closures of
schools, institutions and other learning spaces have impacted more than 94% of the world’s
student population. As the country grapples with this crisis, the Department of Education
(DepEd) took the opportunity to be more inclusive in utilizing other modes of learning which are
responsive, timely, and relevant in today’s situation. The “new normal” in education are
alternative learning modalities which aims to be receptive and beneficial to learners amidst the
pandemic.

Modular distance learning (MDL) is the modality used by St. Therese Academy since the
start of the school year 2020-2021. It is in the form of individualized instruction that allows
learners to use self-learning modules (SLMs) in printed copies. The teacher takes the
responsibility of monitoring the progress of the learners by checking their work submitted/
dropped off at school every end of the week. The learners may ask assistance from the teacher
via e-mail, telephone, text message/instant messaging, etc. during teacher’s office hours.

Having basic financial support is crucial for students to acquire their basic educational
needs. However, in this current situation our world is facing today coupled with the new normal
and economic downturns, many Filipinos are unable to cope with the drastic change in their
lifestyles and the economy. Many are still struggling to provide for their family’s basic needs.
According to Scott (2021), financial stress is the result of financial problems, which may directly
influence a person’s cognitive ability, said Medina (2013). In other words, if a student is
financially unstable, they may experience financial stress that may affect their cognitive ability,
which therefore, can cause a negative impact to their academic performance.

So, the researchers decided to choose this topic because they wanted to know how this
condition affects the performance of students, especially Grade 11 ABM students. As a student
who experienced financial instability, the researchers want to know how the students handle it
through the utilization of questionnaire and collecting information from random Grade 11 ABM
students of St. Therese Academy. The researchers are expecting for polite and respectful
respondents. The respondents will be the Grade 11 ABM students.
 III. REVIEW OF RELATED LITERATURE

Financial problems are commonly faced by everyone, especially for those who come from
underprivileged or low-income families. According to Asri, Abu Bakar, Laili and Saad (2017),
stated that although students do not have a commitment on paying monthly debt instalments like
other households, however, their status as students requires them to pay their education fees,
rents and other essentials, by which they received the financial from loans, scholarships or their
families. In addition, students who come from underprivileged or low-income families might
affect their academic performance. Many past research has been done to show a relationship
between financial problems and the students’ academic performance. According to
Olufemioladebinu, Adediran and Oyediran (2018), the parent’s income or social status has
positively affected the students' academic performance in an examination. This can be further
supported by a previous study by Olufemioladebinu et al. (2018) explained that students who
come from low socio-economic family status tend to show a poor academic performance
compared to students who come from a better family background status. To add, according to
Asri et al. (2017) stated that students who come from a high economic status are able to have a
stimulating learning environment. Hence it is possible for those who have a better family
financial background to excel well and achieve a better academic performance compared to those
students who come from low-income families.

According to Nnamani, Dikko and Kinta (2014), they mentioned that financial problems of the
students extremely contribute to the students’ low academic performance, which therefore leads
to the low quality of education in many ways. As stated in this early literature, financial
problems lead to the financial stress which will eventually influence the low academic
performance of the students. A study from Widener (2017), they mentioned that financial stress
has been consistently related to the students' low academic performance. According to a study by
Asri et al. (2017), mentioned that there are many factors that contribute to students’ academic
performance. However, family socio-economic are the significant factors as it involves financial
management which will provide motivation for the students to either have passion or not to
achieve in their academics. According to Dang and Bulus (2015), stated that many Americans
are affected by the economic downfall. Even college students often worry about their finances,
which then this financial worry may affect their academic performance as the students are
dividing their attention between financial and academic. Hence this can be stated that the
family's finances are motivation and encouragement for the students to have a good academic
performance. Asri et al. (2017) added that when a highly motivated student encounters a
financial problem, the student will turn the problem into motivation for them to achieve success.
Therefore, whatever problems that come, which include financial problems, should not hinder
the students if they want to succeed academically.

According to Widener (2017) mentioned that there are two ways of how a financial problem
could affect the students’ academic performance which are health problems and having to work
part-time. Widener (2017) further added that financial problems lead to health problems such as
anxiety which then lead to negative behaviors such as addiction to alcohol or uncontrolled
shopping, hence making the students lose their focus on their academics. When students face
financial problems to cope with the high cost of living, they are more exposed and vulnerable to
health problems. Therefore, here comes the issue of whether students who have financial
problems can handle the stress of managing their daily lives and finance. According to Asri et al.
(2017) stated that poor financial management could cause an individual unable to control the
stress and thus it affects their daily life such as health by making them depressed and becoming
physically ill. This can be further supported by the study of Asri et al. (2017) which stated that
one of the causes of stress among students is because of their financial problems in which the
students tend to feel dizzy and have anxiety that will eventually create tension with them. In
other words, financial problems lead to various problems that will eventually affect the students’
academic performance. Another way financial problems could affect the students' academic
performance is stated by Widener (2017), to overcome the financial problems, most students
decide of having to work part-time and even working for a long horse, which takes away their
time focusing on their academics. Hence, having a part-time job leads to a lack of studying,
taking less credit hours and poor attendance resulting in their poor academic performance. This
can be supported by a study from Widener (2017). It found that students who are financially
depressed had lower grades and enrolled in fewer credit hours. Most students are involved in
part-time jobs given by universities or local companies.

According to Asri et al. (2017), the students who come from underprivileged socio-economic
status families are often constrained by problems such as needing to work to help their families,
incapable of buying learning materials that will ultimately impact their academic performance.
According to Perman (2019), CNBC journalist, stated that having a part-time job during the
study takes a greater impact on low-income students, whereby approximately 6 million students
took a part-time job, and most of them are women, Blacks and Latinos. By juggling between jobs
and academics, some students must struggle to overcome and manage their financial problems.
This affects their academic performance as they must divide their focus and attention between
work and their academics. Perman (2019) also mentioned that approximately 59% of students
from underprivileged or low-income families worked for 15 hours and more, and they received a
C average or lower for their academics. This does not only affect the students schedule as they
not only have to manage their time for classes and assignments, but they also must manage and
plan their part-time job schedule accordingly. This will eventually affect their academic
performance and add to health problems such as fatigue. As the effect of this financial problem,
students tend to be less socializing, skip classes, and take a toll on their health, leading to poor
academic performance. According to Asri et al. (2017), stated that due to financial problems,
some students tend to be quiet, unsocialized with their friends and less interaction in class thus
leads to a decrease in their academic performance due to their lack of interaction in acquiring
knowledge.

Hill et al., (2004) also argued that the financial status of parents does 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
possess high risk characteristics than even undergraduates”. In his findings, two-third 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 enroll in schools are more likely to drop out of school, because the first
generation college students from low socio-economic 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.
 IV. STATEMENT OF THE PROBLEM

Students must have financial support to acquire their educational needs. Unfortunately,
due to financial instability faced by many Filipino families in this time of crisis caused by the
pandemic, many students are unable to comply for their financial fees. This could result to
financial stress which may directly influence their cognitive ability and affect their academic
performance.

The study aims to determine how financial instability affects the academic performance
of Grade 11 ABM students of St. Therese Academy and its impact on the individual
experiencing financial problems as he/she is studying with the learning modality of Modular
Distance Learning (MDL). Specifically, the study seeks to answer the following questions:

1) What is financial instability?

2) What is the respondents’ profile in terms of overall grade in the first grading??
3) What is the effect of financial instability to the academic performance of Grade 11 ABM
students?

V. SCOPE AND LIMITATION OF THE STUDY

The study focuses on the Effects of Financial Instability during Modular Distance
Learning of Grade 11 ABM Students at St. Therese Academy within the Academic Year 2021-
2022. The data collection of the research is limited only to 30 randomly selected Grade 11
students in St. Therese Academy, specifically, students from the Accountancy and Business
Management (ABM) strand. The study will also be focusing on the liability accounts of Grade 11
ABM students in St. Therese Academy, specifically, student’s liability accounts for the month of
December and January. The study will only cover problems related to the topic. Those students
who do not fall under Grade 11 ABM are not within the scope of the study. The expected age
range will be 15-18 years of age. The study would be done through the utilization of
questionnaire to the students as a survey and reference. By this strategy the researchers will be
able to know the effects of financial instability to Grade 11 ABM students.
 VI. BODY

A. CONCEPTUAL FRAMEWORK

The purpose of this study is to examine financial instability, also known as financial
distress or financial problems and what or who is affected. Many students during this time of the
COVID-19 pandemic experience this kind of condition, which may affect their performances at
school as it leads to financial stress which is an emotional tension that is specifically related to
money or finance. This given conceptual framework describes the factors that is relevant to this
study. These factors or variables are closely related as it symbolizes how financial instability
affects the performance of Grade 11 ABM students of St. Therese Academy.

Financial Financial Academic

Instability Stress Performance
Figure 1 Schematic Diagram of the Conceptual Framework

B. METHODOLOGICAL PROCEDURES

LOCALE AND RESPONDENTS OF THE STUDY

Our research locale is within the vicinity of ST. THERESE ACADEMY which is located
in Tomas Cabili, Iligan City. The respondents of the study are Grade 11 ABM Students.

SAMPLING PROCEDURE

This sampling procedure that will be in this research is random sampling. A random
sampling was selected by the researchers subjectively. This sampling method helps the
researchers to access to a particular subset of students, from the population of the grade 11 ABM
students in St. Therese Academy. The researchers will select 30 random students to answer the
survey questionnaire.
INSTRUMENTATION

The researchers used an online survey for conducting a data, as an online survey is a
structured questionnaire that our target audience completes over the internet generally through a
filling out a form. The data is stored in a database and the survey tool is a forms.app. The
questionnaire is just a yes-or-no question that the respondent must answered it honestly.

https%3A%2F%2Fmy.forms.app%2Fjannisah%2Fmarket-research-survey%3Ffbclid
%3DIwAR0PsgKRyiLAWU9XGqdA4n9ERPnSDD7RRVuoh-
XLo_hUsWOUG2I_PrI5J3A&h=AT2s-
4ergjh57KoNqcytCGypRUBsPbbZ7S8GsROgn9YEbW6Er8J4LuwrHu_Blm2REd2zIU3IZcL5T
vUszKkFyaYAqRAC9wb4eT6alWfWJLnbNfz_AisBgGcm6bEqDYTidy9r37WMlGWryAQ

STATISTICAL TREATMENT OF THE DATA

Frequency and Percentage. This distribution is a display of data that specifies the
percentage of observations that exist for each data point or grouping of data points. It determines
the distribution of the responses in each category, while percentage was employed to determine
the position of the responded out of total number of items. The total number of observations
within each data points our grouping of data points.

f
P= ×100 %
n

DATA GATHERING PROCEDURES

Formulate survey questionnaire

Asking permission to the Grade 11 ABM adviser

Respondents’ participation (answering)

Data gathered

Data analysis / interpretation

C. FINDINGS

D. DISCUSSIONS

i. DATA ANALYSIS

I. Respondents’ Personal Profile

The researchers decided to get the overall first grading grades of the students to verify
their academic performance in school during modular distance learning. Table 6.1 shows that
sixteen of the students have good overall grades in the first grading at an average of fifty three
percent, while thirty three percent has fair grades. In which out of thirty respondents only four
have very good grades or thirteen percent of the respondents.

Table 6.1. Students Overall Grade Performance in the First Semester

Grade Frequency Percentage

90-100 4 13.33% Excellent

86-89 8 26.67% Passed

80-85 8 26.67% Passed

75-79 10 33.33% Fair

70-74 0 0% Fail

Total 30 100%

ii. GRAPHS AND DIAGRAM

Fom the 30 respondents that participated, the results and findings are shown below.

TABLE 1.

Is your family experiencing FREQUENCY PERCENTAGE

financial difficulties because
of the COVID-19 pandemic?

YES 23 77%
NO 7 23%
TOTAL 30 100%
 YES
23%

NO
77%

As the question was asked to 30 respondents from Grade 11-ABM of St. Therese Academy, the
findings show a high percentage of 77% or 23 people from the total number of respondents has
admitted that their family experienced financial difficulties because of the COVID-19 pandemic.
And then, 23% or 7 people from the total number of respondents has not admitted. This shows
that due to the impact of COVID-19, many families are experiencing financial difficulties.

TABLE 2.

Had any member of your FREQUENCY PERCENTAGE

family either lost their job,
been furloughed (working
from home), or re-employed
because of the COVID-19
pandemic?

YES 14 47%
NO 16 53%
TOTAL 30 100%

YES
47%

NO
53%

As the question was asked to 30 respondents from Grade 11-ABM of St. Therese Academy, the
graph above shows that the high percentage of 53% or 16 people has answered “no” from the
total number of respondents. And 47% or 14 people answered “yes” from the total number of
respondents. It shows that there are people that can still work regularly but there are also people
who either work at home, re-employed or lost their jobs based on the results.
 TABLE 3.

Have you ever got a part FREQUENCY PERCENTAGE

time job to help your parents
financially during the
COVID-19 pandemic?

YES 5 17%
NO 25 83%
TOTAL 30 100%

YES (5) PEOPLE

17%

NO (25) PEOPLE
83%

As the question was asked to 30 respondents from Grade 11-ABM of St. Therese Academy, the
findings show that 5 people (17%) from the total number of respondents has admitted that they
help their parents financially by getting a part-time job. And there a 25 people (83%) from the
total number of respondents have not admitted. It shows that a high percentage is “no” rather
than “yes”.

TABLE 4.

Have you ever experienced FREQUENCY PERCENTAGE

having family problems
related to money or finance?

YES 22 73%
NO 8 27%
TOTAL 30 100%
 NO (8) PEOPLE
27%

YES (22) PEOPLE

73%

As the question was asked to 30 respondents from Grade 11-ABM of St. Therese Academy, the
graph above shows that the high percentage of 73% or 22 people from the total number of
respondents has admitted that their family experienced having problem related to money or
finance. And 27% or 8 people from the total number of respondents has not admitted. It shows
that there many people who experienced family problems related to money or finance.

TABLE 5.

Have you paid your tuition FREQUENCY PERCENTAGE

for the month of December
and January?

YES 12 40%
NO 18 60%
TOTAL 30 100%

YES (12) PEOPLE

40%

NO (18) PEOPLE
60%

As the question was asked to 30 respondents from Grade 11-ABM of St. Therese Academy, the
findings show that out of 30 respondents only 12 people (40%) have admitted that they paid their
tuition for the month of December and January. And then, 18 people (60%) from the total
number of respondents have not admitted. This shows that many students have yet to settle their
accounts from the school.
 TABLE 6.

Have you ever experienced FREQUENCY PERCENTAGE

paying your school fees late?

YES 22 73%
NO 8 27%
TOTAL 30 100%

NO (8) PEOPLE
27%

YES (22) PEOPLE

73%

As the question was asked to 30 respondents from Grade 11-ABM of St. Therese Academy, the
graph above shows a high percentage of 73% or 22 people from the total number of respondents
has answered “yes”, they admitted that they pay their tuition late. And then, 23% or 8 people
from the total number of respondents has not admitted. This shows that most of the respondents
have experienced paying their school fees late.

TABLE 7.

Have you ever felt stressed FREQUENCY PERCENTAGE

over money or finance?
YES 22 73%
NO 8 27%
TOTAL 30 100%

NO (8) PEOPLE
27%

YES (22) PEOPLE

73%
As the question was asked to 30 respondents from Grade 11-ABM of St. Therese Academy, the
findings show a high percentage of 73% or 22 people from the total number of respondents has
admitted that they felt stress over money or finance. And 27% or 8 people from the total number
of respondents has not admitted, they don’t felt stress over money or finance. Those answered
“yes” has a high percentage rather than answered “no”. This shows that students experience
financial stress, which is an emotional tension related to money or finance.

TABLE 8.

Have you ever passed your FREQUENCY PERCENTAGE

module late due to financial
problem?
YES 22 73%
NO 8 27%
TOTAL 30 100%

NO (8) PEOPLE
27%

YES (22) PEOPLE

73%

As the question was asked to 30 respondents from Grade 11-ABM of St. Therese Academy, the
graph above shows a high percentage for those answered “yes”, it has 73% or 22 people from the
total number of respondents. And then, 23% or 8 people for those answered “no” from the total
number of respondents. There are many students passed their module late rather than on time.

TABLE 9.

Have you ever felt worried FREQUENCY PERCENTAGE

because you did not pay your
school fees on time?

YES 22 73%
NO 8 27%
TOTAL 30 100%
 NO (8) PEOPLE
27%

YES (22) PEOPLE

73%

As the question was asked to 30 respondents from Grade 11-ABM of St. Therese Academy, the
findings show that the high percentage of 73% or 22 people from the total number of respondents
have admitted that they have felt worried when it comes to school fees that needs to pay on time.
And 27% or 8 people answered “no” from the total number of respondents. It shows that
majority of the respondents answered “yes” rather than no.

TABLE 10.

Do you think that paying FREQUENCY PERCENTAGE

your tuition and modules fees
late will have an impact on
your grades?

YES 24 80%
NO 6 20%
TOTAL 30 100%

NO (6) PEOPLE
20%

YES (24) PEOPLE

80%

As the question was asked to 30 respondents from Grade 11-ABM of St. Therese Academy, the
graph above shows that the high percentage of 80% or 24 people from the total number of
respondents answered “yes”. And 20% or 6 people answered “no”. Based on the answers, most
of the respondents thought that if they pay their tuition and module fees late, there will have an
impact on their grades.
 VII. RECOMMENDATION

The researchers recommend this study to the future researchers to study and seek further
information regarding the Effect of Financial Instability during Modular Distance Learning. The
researchers also recommend widening the scope and delimitation regarding of this study. And
gather useful data to improve the relationship between the Financial Instability and the Modular
Learning Distance. To achieve the goal as the researchers, we should put a diligent to further the
research study. For the other tools needed in the future research must be take a risk to achieve
better results regarding this study.

VIII. CONCLUSION

.
With respect to the student’s profile, it is concluded that those who are categorized as
being financially unstable based on their answers from the survey questionnaire have grades
below average, particularly 75-79 Grade Averages. This implies that financial instability does
have an impact on students’ academic performances during modular distance learning. Academic
performance refers to students’ academic grades for the whole semester. Majority of the
respondents which is 33.33% only have fairly satisfactory point grade averages due to financial
instability. Financial instability leads to financial stress which can affect one’s academic
performance. Therefore, the researchers concluded that financial instability has an impact to the
Academic Performances of the students during Modular Distance Learning this School Year
2021-2022.
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