This research study explores the implications of financial support for academic efficacy and mental health and wellbeing (MHW) in undergraduate engineering. The socioeconomic status of students has been suggested to positively correlate to academic efficacy and success. Students who receive need-based financial support when compared to those who do not receive such support are reported to have higher levels of academic success. The detrimental effects of financial insecurity on the MHW of students have been verified by many studies. In our previous study, we identified financial support to be among the vital factors contributing positively to academic efficacy, and ultimately the MHW of undergraduate engineering students. In the current study, we further explored the importance of financial support by exploring the different ways in which it makes such contributions.
As part of a larger project about MHW of engineering undergraduates, qualitative data was collected from 105 participants through an online open-ended survey at a Western lang-grant institution of higher education in the Spring of 2022. The engineering undergraduate study participants were asked about the different ways in which financial support from different sources enabled them to be academically efficacious. Thematic analysis involving categorization and theming was carried out with two researchers participating in this process.
Findings from the thematic analysis of the data revealed that financial support contributed to engineering undergraduate students’ academic efficacy as it: 1) afforded them more time to focus on studies to achieve academic goals, 2) decreased their psychological insecurities, and 3) even made engineering education possible for some study participants. Financial support came from different sources including parents, spouses, scholarships, and the educational institution.
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