Analyzing the impact of education loans on financial Stability and educational attainment towards higher education institution students in Malaysia

Puan, Sing Ping (2024) Analyzing the impact of education loans on financial Stability and educational attainment towards higher education institution students in Malaysia. Project Report. Universiti Teknikal Malaysia Melaka, Melaka, Malaysia. (Submitted)

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Abstract

This study aims to analyze the impact of education loans on the financial stability and educational attainment of higher education institution students in Malaysia. Education loans play a crucial role in providing access to higher education and addressing the rising tuition and living expenses costs. However, the debt burden can significantly affect students' financial stability and hinder their educational progress. Through a comprehensive data analysis and relevant literature, this study explores the relationship between education loans and economic stability and their impact on student's educational attainment. The research methodology includes the study design, research hypotheses, operationalization of constructs, population and sample details, and data analysis procedures. Survey questionnaires are utilized for data collection, focusing on Malaysian higher education students through convenience sampling with a sample size of 384 students, considered sufficient based on the table of Krejcie and Morgan (1970) given the over 1,270,000 students enrolled in higher education in Malaysia (EasyUni, 2023). Findings indicate that Performance Expectancy, Effort Expectancy, Social Influence, and Facilitating Conditions positively influence prospective students' intention to borrow education loans. The conclusion emphasizes the importance of addressing challenges associated with education loans, such as financial literacy and delayed awareness of debt consequences. Recommendations include enhanced financial literacy programs and flexible loan terms. The research contributes to understanding students' intentions to take out education loans and advocates for supportive policies to ensure equitable higher education financing.

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