FINANCIAL STRESS IN COLLEGE STUDENTS: EXAMINING GENDER DIFFERENCES IN RELATION TO SOCIO-ECONOMIC FACTORS
DOI:
https://doi.org/10.17770/eid2025.1.8385Keywords:
financial stress, gender differences, college students, socio-economic factorsAbstract
Rising concerns about student financial well-being and financial pressures on them highlight the need to examine the financial stress of students in higher education and how it varies by gender and socio-economic status. Aim of the study was to explore gender differences in financial stress among college students with different socio-economic status. The sample of the study was 708 students from the College of Business Administration (Latvia) enrolled in short-cycle higher professional education programs. Data were collected through a survey, and financial stress was measured with an 8-item scale composed for this study. Mann–Whitney U test was employed to assess gender differences in financial stress levels within the total sample and across different socio-economic status groups. The results indicate that female students experience significantly higher levels of financial stress than male students. We observed gender differences in financial stress in specific subgroups of socio-economic status - students with secondary education, students aged 31-36 years, unemployed students, students who have credit obligations and those who live in large cities – with female students in these groups reporting significantly higher perceived financial stress. The findings highlight the importance of developing targeted interventions that facilitate financial literacy and well-being among college students, while also considering gender and socio-economic disparities to mitigate the adverse effects of financial stress.
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Copyright (c) 2025 Līga Roķe-Reimate, Lāsma Balceraite, Anita Lasmane, Iveta Broliša, Alisa Lāce (Author)
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