Background of the Study
Financial aid programs, such as scholarships, grants, and loans, are critical resources for students, particularly those from economically disadvantaged backgrounds. In the context of nursing education, financial support can alleviate financial stress, enabling students to focus more on their academic responsibilities and professional development (Ogunlade & Akinmoladun, 2024). Studies have shown that financial aid programs can significantly impact students' academic success by reducing dropout rates, improving retention, and enhancing overall academic performance (Mokoena et al., 2023).
At Ekiti State University College of Medicine, nursing students rely on various financial aid programs to meet tuition fees, purchase learning materials, and cover other educational expenses. Despite the growing reliance on these programs, there is limited research on the specific impact of financial aid on the academic success of nursing students in the region. This study seeks to evaluate the role of financial aid programs in enhancing the academic success of nursing students at Ekiti State University College of Medicine.
Statement of the Problem
Many nursing students at Ekiti State University College of Medicine face financial barriers that hinder their academic progress and overall success. While financial aid programs have been implemented to alleviate some of these challenges, the direct impact of these programs on students’ academic outcomes is not well understood. Without a thorough evaluation of how financial aid programs influence academic performance, it is difficult to determine whether these programs are effective in supporting students' educational goals and ensuring long-term academic success.
Objectives of the Study
1. To evaluate the impact of financial aid programs on the academic success of nursing students at Ekiti State University College of Medicine.
2. To assess how financial aid affects the retention and graduation rates of nursing students.
3. To explore the relationship between financial aid and students’ academic performance, including their grades and participation in learning activities.
Research Questions
1. How do financial aid programs impact the academic success of nursing students at Ekiti State University College of Medicine?
2. What is the effect of financial aid on nursing students’ retention and graduation rates?
3. How does financial aid influence nursing students’ academic performance in terms of grades and involvement in academic activities?
Research Hypotheses
1. Financial aid programs positively impact the academic success of nursing students at Ekiti State University College of Medicine.
2. Nursing students who receive financial aid exhibit higher retention and graduation rates compared to those who do not receive aid.
3. There is a significant relationship between financial aid and the academic performance of nursing students, including their grades and participation in academic activities.
Scope and Limitations of the Study
This study focuses on nursing students at Ekiti State University College of Medicine and evaluates the impact of financial aid programs on their academic success. The findings may not be applicable to nursing students in other institutions or countries with different financial aid structures. The study is also limited to assessing academic success, without considering other factors such as mental health or social factors that may also influence students’ experiences.
Definitions of Terms
• Financial Aid Programs: Financial assistance provided to students to support their educational costs, including scholarships, grants, and loans.
• Academic Success: The achievement of favorable academic outcomes, such as high grades, retention in the program, and timely graduation.
• Nursing Students: Individuals enrolled in the nursing program at Ekiti State University College of Medicine, pursuing a nursing degree.
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