FINANCIAL ISSUES EXPERIENCED BY STUDENTS IN

PRIVATE HIGHER EDUCATION INSTITUTIONS

NABILAY. ALKANDARI
Kuwait University

Tlie study was conducted in order to understand the way in which the
financial status of students in Kuwait is affected as a result of enrolling
in private higher education institutions. The aim is to analyze whether
they face financial issues upon the time of payment and how these
issues can be resolved. The analysis was done on a sample of 1280
students taken from three private universities in Kuwait which include
the American University of Kuwait, Gulf University for Science &
Technology, and Arab Open University-Kuwait Branch. Two private
colleges; Australian College of Kuwait and Box Hill College Kuwait;
were also part of the study. Results showed that the main aspect where
students faced financial issues was the high price of textbooks. Other
issues however were secondary in nature and could be attributed to
the inability of students to manage their finances or control expenses.
The same trend was observed in both genders and across institutions.
Although gender difference did not affect students behaviors towards
financial planning, nationality seemed to play an important part. The
recommendations as a result of the findings of this study are to hire an
on-campus financial consultant who can help students spend within
their means and teach them financial management skills.

Introduction
The competitive job market and the scar
city of employment have led to a surge of
students enrollment in higher educational
institutions. This is so the chances of obtain
ing a job after graduation are increased. Edu
cation has increased in value as perceived by
the younger generation (Mogilchak, 2012).
Employers have also started preferring higher
qualified candidates for jobs being offered.
This is because there is an abundance of grad
uates looking for jobs in a job scarce market.
The importance of a college education has
mostly boomed in order to keep up with the
pace of the rest of the economy. Previous
ly where a degree would set the candidate
apart from the crowd, it now only levels the

playing field (Camevale, Jayasundera, &

Cheah, 2012).
According to Baum and Ma (2007), bene
fits derived from attending higher educational
institutions are personal, financial and affect
the graduate throughout the course of his life.
The rising cost of tuition and the demand for
higher education as a job requirement has led
to many students opt for student loans. The
crippling global economy has led to an abun
dance of accumulated debt which students are
facing difficulties in paying off (Johnstone
& Marcucci, 2010). Student debt in USA ex
ceeds $1 Trillion (Burke & Butler, 2012). Ac
cording to Dillon (2011), student debt is now
a part of life and has become an imperative
cycle in every American students life.

465

466 / Education Vol. 134 No. 4

The financial responsibility for higher
education, originally borne by the govern
ment and taxpayers is now the responsibility
of students and their families (Johnstone &
Marcucci, 2010; Vossensteyn, 2009). This
financial responsibility is not within the ca
pacity of all families (Kirshstein, 2012). This
is because there is a lack of financial planning
on part of the families and a lack of clarity
in information provided by institutions when
it comes to tuition payments. Expenses other
than fee and tuition such as living expenses,
textbooks, technology, transport and miscel
laneous personal expenses must be taken into
consideration (Brown & Proper, 2005).

2012/2013, the cost of private colleges had

increase by 3.9% and the student aid rose by
6.2% (DeSantis, 2012).
Typical tuition fees from some of the
private universities are; Boston University
US$43,970; Massachusetts Institute of Tech
nology (MIT) $43,498; Northeastern Uni
versity US$40,780; and Suffolk University
US$31,592 (Boston Globe, 2013). In some
private American colleges in Minnesota, tu
ition fees are: Carleton College US$46,167;
Macalester College US$45,388; Augsburg
College US$33,154; and Bethany Lutheran
College US$23,950 (Minnesota Private Col
lege Council, 2013).

Rise o f Tuition Fee Globally

Rise o f Tuition Fee in Kuwait

The increase in tuition fee by higher edu

cation institutions can be attributed to various
factors. Some universities increase prices in or
der to set themselves apart from cheaper insti
tutions. Other times, the bloated administration
is to blame (Archibald & Feldman, 2010).
England has seen an increase of tuition
fee up to $14,000 a year. Unlike the USA,
the applicant rate in European countries has
dropped. An official statement by the De
partment for Business, Innovation, and Skills
claimed that students willing to continue their
higher education could do so by obtaining a
loan which will only be payable in case the
annual income of the student exceeds $33,000
(Global Ticker, 2012).
Tuition fees per student in the USA have
increased by five times the inflation rate
since 1983. Within the decade between the
years 2000-2010, there was a 23% increase
in educational cost. Student debt on the other
hand has doubled in the last 15 years. Sta
tistics also show that the rate of completion
of a graduate degree is only at 57%. This is
mainly due to the inability of students to keep
up with university costs. A student is expected
to be $26,000 in debt at the time of gradua
tion (Economist, 2012). In the academic year

The amount charged as tuition fees in

Kuwait varies by institution. The American
University of Kuwait (AUK) charges 175
KWD per credit hour. The intensive English
Program is for 1,635 KWD and the charges
for library usage, technology and student ac
tivity are 15 KWD, 50 KWD and 50 KWD
respectively. The university website attempts
to provide information to students including
payment methods, enrolment deposits, legal
contacts, payable charges and fees and the
payment options. Students are also given
the option of making their payments online
(American University of Kuwait, 2012).
The Gulf University for Science & Tech
nology (GUST) charges 175 KWD per credit
hour whereas the English Foundation Level
course is for 1600 KWD. Charges for com
puter services, student activities and Science
Lab usage are 50 KWD, 25 KWD and 20
KWD respectively. 870 KWD is payable
before course registration at the time of ad
mission. Similar to AUK, GUST also offers
online payment solutions to its students
(Gulf University for Science & Technology,
2013). Students may even apply for internal
scholarships for one semester which cover
2250 KWD of the cost of the semester. The

FINANCIAL ISSUES EXPERIENCED BY STUDENTS / 467

scholarship is not available to everyone but

limited to a select number of students who meet
the preset criteria. This entails completing a 30
credit hour course, with a minimum 3.00 GPA.
The student should also have a clean record
with no history of disciplinary action taken
against them and should also be enrolled for at
least 15 credit hours at the time of application.
The summer scholarship at GUST is
similar to an exchange program where it al
lows students to study up to 6 credit hours
at American Universities such as University
of Missouri, St. Louis, and Florida Inter
national University. This offer is only for
students who are studying full-time at GUST
and have a 3.00 GPA. They must also pass a
TOEFL with a score of 550 or above (Gulf
University for Science & Technology, 2013).
The GUST website also gives information
regarding payment options, financial aid,
Indebtedness and scholarships.
The Kuwait branch of the Arab Open
University (AOU) charges a $50 registration
fee per semester. Computer science courses
are charged at %75 an hour and Business
Administration courses are charged $75 an
hour (Ministry of Higher Education, Private
Universities Council, 2013).
The Australian College of Kuwait (ACK)
charges 1695 KWD for the English language
program per semester. Business courses are
charged 1857 KWD; Engineering courses
are charged 2132 KWD while Aviation and
Aviation Engineering is charged at 3070
KWD per semester (Australian College of
Kuwait, 2011).
Scholarship options at ACK are not as rig
id as those at GUST. ACK offers students to
apply for scholarships or aid based on need.
This scholarship can be obtained y applying
to the Private Universities Council (PUC).
This government funded scholarship covers
80% of the tuition fee. The remaining 20% is
covered by ACK itself.
Box Hill College Kuwait charges 1625

KWD for their Foundation Program, 1645

KWD for their Business Program, 1670 KWD
for their technology program and 1820 KWD
for their Applied Arts and Design Program
(Ministry of Higher Education, Private Uni
versities Council, 2013).
Students 'Financial Services
Higher education institutions often pro
vide financial services to students in order
to increase their awareness of financial
management. Since many students are new
to independent living and face trouble in
this regard. Temple Universitys financial
services do just that. These services include
a free ATM network, online banking, incom
ing transfers, e-alerts and overdraft protec
tion. They are also offered deals on new and
used cars along with a College Rewards Visa
card. An on-campus office of the Philadel
phia Federal Credit Union offers manage
ment services and consultation to students
(Temple University, 2013).
The Minnesota Private College Council
provides new students with information re
garding the way in which they can finance
study. These include scholarship, aid and
work options. A DVD with their admission
pack also offers information to students and
their families about financial management.
Other than DVDs, there are various Minne
sota public TV stations which air this infor
mation throughout the day (Minnesota Private
College Council, 2013).
Review of Literature

Student debt being a crucial issue for

various economies across the globe, ample
research has been done in order to better
understand the academic and financial situa
tion and use the data derived to correct job
scarcity. According to Faulk, Srinivisanm
and Bingham (2012), the two factors that af
fect the academic achievements of a student
are sources of funds and working to pay for

468 / Education Vol. 134 No. 4

tuitions. Sources of funds include employer
tuition payment, loans, financial ad, scholar
ships, self-finance and parental assistance.
Harding (2011) found that the financial
circumstances of a student had a direct effect
on their academic prowess. Financial diffi
culties include waiting for loan payments and
the inability to pay semester fee. A study con
ducted by Westefeld et. al. (2005) which was
conducted over 1865 college students showed
that financial distress was among the leading
factor of student suicide. Other factors in the
study were family issues and ongoing stress.
Several students have been reported to drop
out of university as a result of an inability to
pay tuition fees.
Another study by Brown and Proper
(2005) compared the perception of faculty
and students when it came to the price of text
books. Although expected to be different, the
results showed that both sides agreed to the
rise in cost of textbooks and believed that they
should be lowered. High dropout rates can
also be attributed to accumulating debt (Elffers, 2012; Lee, Donlan & Brown, 2010/2011;
Looney, 2011). The most affected group is
that of African American and Alaskan origins.
These students are highly affected by financial
difficulties and have a low rate of retention
when it comes to graduate studies.
Student loans are a major threat to edu
cation. Even though loans are not payable
until the student graduates, the stress of loan
accumulation has been identified as a major
factor affecting student drop-put rates in uni
versities. The stress of accumulating debt also
affects student productivity and their grades.
This threat has been on the rise in the last
decade. Students who lack financial expertise
accumulate debt not only in the form of loans
but also in the form of credit cards which
leaves them in a difficult situation at the time
of graduation. Students often pick up low
paying jobs which are below their qualifica
tions in order to pay off the loan easily. Most

students begin working before graduation in

order to be debt-free by the end of their stud
ies so they can focus on their careers (Dwyer,
McCloud, & Hodson, 2012; Chan, Chau &
Chan, 2012; Trombitas, 2012). The results of
Trombitas (2012) study suggested that those
giving loans to students should also provide
financial consulting services. Not only would
this increase financial awareness among stu
dents, it would also ensure that the debtors
receive their due amount.
The above studies show the very critical
financial situation being faced by students
today. The negative effects of these financial
setbacks cause trouble not only in their fi
nancial but also academic and personal lives.
The lack of basic money management skills
or the ability to create budgets aggravates
the already sensitive situation. According to
Longden (2012/2013), the main factor that
needs to be kept in check by institutions is the
spending habits of students.
Taking note from previous studies, this re
search aims to understand the current financial
issues faced by students enrolled in private
higher education institutions in Kuwait. It will
also attempt to understand the spending habits
of students and try to provide suggestions that
may help solve this critical situation.
Research Questions
This research study aims to answer the
following questions;
1.

What are the financial issues that face

students in Kuwaits private higher edu
cation institutions?

2.

Do demographic differences such as

type of the institution, gender and na
tionality affect students responses?
Method

Participants
The sample consisted of a variety of stu
dents from private universities and colleges

FINANCIAL ISSUES EXPERIENCED BY STUDENTS / 469

enrolled in higher education institutions in
the spring semester 2012. Students were dis
tributed through these institutions as follows:
195 (15.2 %) AUK; 290 (22.7 %) GUST; 280
(21.9 %), AOU; 414 (32.3 %), ACK; and 101
(7.9 %) were from BHCK. The student sam
ple included 780 (60.9 %) females and 500
(39.1 %) males. 955 (74.6 %) of the respon
dents were of Kuwaiti origin while 325 (25.4
%) were non-Kuwaiti.

Instruments used and Data Analysis

The research follows a descriptive analyti

cal approach. It aims to infer conclusions from
descriptive analysis of statistical data. A 24
item questionnaire was created to enquire about
students perceptions regarding the financial is
sues that they face through the course of their
studies. The random selection of respondents
was asked to answer their questions based on
a 5-point Likert scale. The highest number 5

Table 1. Means and Standard Deviation Scores of Students Perceptions of Financial

Issues
No

Variables

SD

1.

Inability to bear the costs of the study

3.00

1.239

2.

High cost of housing

2.72

1.274

3.

High cost of textbooks

3.50

1.240

4.

High cost of daily nutrition

3.17

1.266

5.

High cost of transportation

2.73

1.250

6.

The lack o f suitable resource of monthly income

2.97

1.292

7.

Inability to pay studying loans on time

2.83

1.270

8.

I have large debts resulting from bank loans

2.68

1.317

9.

Inability to plan for monthly financial expenses

2.96

1.261

10.

Weakness o f the role financial advisor in advising

2.95

1.260

11.

I ask friends frequently to give me money

2.43

1.379

12.

The large number of costly projects and assignments

3.09

1.296

13.

Inadequate source o f monthly income

3.22

1.269

14.

Lack of getting financial support on time

3.17

1.318

15.

Difficulty o f getting a job to get source o f income

3.04

1.268

16.

Inability to plan a budget for monthly expenses

3.12

1.228

17.

I do not know who can provide guidance to organize monthly expenses

2.85

1.258

18.

My direct depend on family affect over getting money

3.12

1.286

19.

Visa card leads to excessive payment

3.08

1.288

20.

I cannot get financial aid from any resource

2.91

1.314

21.

My finances have a low level impact on delaying my graduation

2.77

1.374

22.

My finances have a low level negative impact on my psychological health

2.80

1.380

23.

I am unable to save money

2.97

1.339

24.

I do not have a policy for monthly saving

3.18

1.317

470 / Education Vol. 134 No. 4

denoted Strongly Agree' and the lowest num
ber 1 denoted Strongly Disagree.
Content validity was established through
a review of the questionnaire by some facul
ty members. The value of Cronbachs alpha
was .90, indicating a high level of reliability.
A t-test was used with confidence level set at
p < .05 to indicate differences according to
students demographic information.

Results
The aim of this research study is to un
derstand the current financial issues faced by
students enrolled in private higher education
institutions in Kuwait. It will also attempt to
understand the spending habits of students and
try to provide suggestions that may help solve
this critical situation. The results in Table 1
show that the students did not respond towards
financial issues in extremes and their and gave
average responses. The means of the responses
for every item stayed between 2.50 and 3.49.
Students were very dissatisfied with the
high price of textbooks showing a mean val
ue of 3.50 which was the highest observed
value. Item 11 which analyzed debt from
peers, on the other hand showed the lowest
value 2.43 among results. This meant that
borrowing from fellow students was not a
common phenomenon.
Some respondents revealed that they did
not have a monthly saving plan. This indi
cates a lack of budget planning on their part.
The lack of savings may also be attributed to
limited income. Students also did not have
any mentors or consultants to guide them
regarding their financial state. Some students
also expressed a level of dissatisfaction in
cases where a financial advisor had been pro
vided. They claimed that the information that
they received was not enough or not helpful
enough. Some respondents also expressed
their inability to pay off their loans to the
college or universities in the due date. Finan
cial restrictions also delayed graduation for a

number of students who were enrolled in the

university. Negative emotional side effects as
a direct result of financial distress were cited
by a number of respondents.
The statistical differences between the
perceptions of male and female respondents
were analyzed using a t-test analysis which
indicated significant statistical differences ( t -5.624, p = .000). The results showed that fe
male students face more financial issues than
male students. In addition, there were signif
icant statistical differences between Kuwaiti
and non-Kuwaiti students perceptions (t =
-6.155,p = .000). Non-Kuwaiti students faced
more financial issues than Kuwaitis students.
However, t-test analysis indicated no statis
tical differences between private university
and private college students perceptions on
financial issues (/= 1.715,/? = .087).

Discussion
The only major financial complaint that
students expressed was that of the increasing
prices of textbooks which they need to pur
chase every semester. This means that this
recurring expense would be borne every se
mester for multiple courses every 4 months.
Brown and Propers (2005) findings also
showed similar results claiming that students
were having trouble coping with the prices of
textbooks. The educational institutions should
offer discounts on prescribed textbooks for
courses. An alternative could be providing
teachers notes in PDF formats to students.
Not only would this eliminate the need of
textbooks, it would also result in a lack of
paper usage reducing further costs. EBooks
are also a reasonable option. These methods
however make referring to the book during
the class difficult. Another method which has
also been implemented on various universi
ties is a book exchange center. These centers
buy and sell books used by students who have
completed courses. Since most books become
obsolete for students one the 4 month course

FINANCIAL ISSUES EXPERIENCED BY STUDENTS / 471

is over. They can redeem some of the money
by selling it on the book exchange or obtain
another book they need for a future course.
Daily Nutrition was also a problem faced
by students. Complete meals were beyond the
budgets of students. Most also did not have
proper eating habits or the skills to prepare
their own food. Most relied on cafeteria food
or purchasing readymade food from other
outlets. This meant that their eating budgets
would exceed. This diet plan is not only un
healthy but expensive. Universities should
reduce cost of nutrition within their cafeteria
in order to help students save money which
could be used for purchasing textbooks or
future courses.
Job scarcity is faced by many students
after graduation; this makes the employment
situation even more difficult for those who are
yet to graduate. This is why many students
who support their own education are facing
difficulties in keeping up with university ex
penses. They are either stuck in low-paying
jobs which do not cover all of their expenses
or are unable to find employment which re
sults in them dropping out of university. Inter
national students whose families earn in other
currencies face difficulties in paying tuition
fees o the exchange rate is not favorable in
their case.
Students also complained that the monthly
resource awards received by the governments
were not enough to meet their expenses. The
Kuwaiti government has a policy of support
ing unemployed students by giving them
monthly income support. Some student loans
also contain a monthly stipend which students
deemed not to be enough. This behavior may
also indicate a problem with the spending
and saving habits of students. They might be
facing these difficulties because they do not
adhere to a budget or a saving plan and easily
exceed their income. This might be because
they face difficulties in making transitions to
their new lifestyles. Being dependent on then-

families for financing, students have not had

the opportunity to manage finances before
this. This problem can only be solved by edu
cating the students about saving and the ways
in which they can plan their monthly budgets.
Universities should invest in consultants who
would help students go over their finances,
and make a monthly and annual plan to see
where they will stand financially. Monthly
savings can then be redirected into repaying
the accumulating loan in case of students in
debt. This would enable them to handle thenfinancial situation as independent individuals.
Another complaint that many students
made was that of hidden unforeseeable costs.
These were in the form of class projects.
Teachers often assign projects which are costly
to undertake. Students cited that they did not
have a choice when it came to spending in that
matter since a lack of spending would result in
a lower grade or dialing the course. Teachers
should be advised to keep student budgets in
mind when assigning course projects.
Students should begin financial planning
even before they enroll in universities. A fiveyear plan which contains information about
the tuition fee payable each semester includ
ing living and other educational and recre
ational expenses would help them understand
how much they need to earn to pay off thenbills or whether a student loan will be a bet
ter option. Simpson, Smith, Tylor and Chadd
(2012) have noted that most students are un
able to pay off loans due to limited funds and
knowledge. They identified loans as minor
challenges during the course of study. They
suggest that reducing interest on debt is man
datory for students. Looney (2011) was also
of the same view as opposed to Elffer (2012)
who cited it as one of the major reasons of the
high student drop-out rate.
Students can manage their finances better
if they have steady sources of income. These
include part-time jobs, family and credit in
stitutions. Many students who are supporting

472 / Education Vol. 134 No. 4

their own studies rely on part-time jobs to
finance their education. This income however
is divided between living and transport ex
penses which means that it will not be enough
o pay off the entire fee for the course. This
might lead to delays in graduation and dis
tress leading to depression and poor academic
performance. Universities should provide
on-campus employment to students who are
willing to work.
Parent as a source of income is perhaps the
steadiest of situations. Those students whose
families have been facing financial stress also
face problems in fee payment. One method is
getting credit. This may be through getting a
student loan or credit cards. Credit cards are
easier to obtain than loans which have made
it a popular method of paying for university
fee. The problem that they face is that credit
card monthly fees must be paid off on time.
Credit cards however come with many other
associated problems. Unlike loans, they can
be used to pay for multiple things. This leads
to overspending on part of students who are
prone to collecting large amounts of debts
on the credit cards or exceeding credit lim
its. Smith (2012) concluded that credit cards
are a cause of distress for students and have
a ripple effect which influences their perfor
mance, drop-out rate and has been identified
as a cause of stress, insomnia and depression.
Lee et. al. (2010/2011) are of a similar view.
Transport is another problem being faced
by students. Those who do not own private
transport vehicles, have to opt for public
transport. Even private vehicles require up
keep and fuel funds. Public transport on the
other hand entails daily fares that need to be
paid and take a sizeable chunk out of the bud
get of the student.
Although not offering degree or 4 year
graduate courses, private colleges were noted
to have similar results as those of universities.
It was believed that college students would
face lesser difficulties in financing their

education since these courses are of lesser du

ration with fewer course requirements. This
indicates that colleges often charge the same
as universities. Students that opt for college
courses as opposed to university courses end
up paying the same amount.
A difference between male and female re
sponses was observed. The study showed that
females were more affected by financial dis
tress as compared to males. This result may
be affected by the nature of the sample that
was taken. The study took into consideration
60% females and 40% males. This means that
the results were inflated as a result and it can
be determined that the two are facing similar
conditions. It can be argued however that the
female lifestyle is more expensive as com
pared to that of males which means that they
are more prone to exceeding incomes.
Kuwaiti students were seen to be better off
than non-Kuwaiti ones. This might be because
the Kuwaiti government sends monthly sup
port to Kuwaiti nationals who are unemployed
students while the non-Kuwaiti students re
ceive no such remuneration. The exchange rate
may also be a reason for the disparity.

Conclusion and Recommendations

This study concludes that students study
ing in higher education institutions in Kuwait
do not face any major financial challenges.
The financial situation in terms of education
is not as critical as that of its western coun
terparts and can be controlled at this point to
prevent it from reaching that extreme. The
only notable expense that faculty and students
alike companied of was that of the price of
textbooks. Another unexpected result was the
lowest mean on the borrowing trend among
peers. Results showed that students do not ask
their peers for financial help. It was also con
cluded that students do not have any financial
consulting services which may go a long
way in rectifying the situation. It was also
observed that students do not own the skills

FINANCIAL ISSUES EXPERIENCED BY STUDENTS / 473

which will allow them to manage their financ
es in a much more efficient manner leading
them to exceed their income.
It is recommended that universities intro
duce better financial consulting services for
students and parents. These services should
begin even before the student is enrolled in
the curriculum in order to avoid any nasty
situations in the future. Financial service
should also include a financial management
course mandatory within all curriculums so
students can manage their expenses with pri
or knowledge.
Credit institutions offering loans and
credit cards to students should make the
terms and conditions on repayment more
flexible. Interest rates should be lowered
and the repayment term increased. Higher
education institutions should also consider
the importance of providing students with
workshops related to financing their studies,
to access benefits from the finance resources
such as financial aid, grants, loans, scholar
ships, and part-time work.
Institutions should also encourage students
to look for employment opportunities and
attempt to provide on-campus jobs for needy
individuals. Financial aid which is similar to
grants should be offered to students. Since
there is no repayment of aid, these grants
are especially successful and have a highly
positive effect on students. They increase pro
ductivity and perseverance and reduce the at
trition rate (Melquizo, Torres & Jaime, 2011).
Although these measures will be highly
effective in controlling financial distress
among university students, the major problem
lies within the spending habits and money
management skills of students. Students
should be made aware of their financial sit
uation and educated on how to manage thenexpenses not only during but before they en
roll with universities. Obtaining credit cards
should be discouraged since it leads to debt
accumulation which they are just not ready to

control or pay off. Students who finance their

own education; including living, travel and
recreational expenses should be advised about
budgeting and compartmentalizing their bud
get in order to better pay off their tuition fee
with minimal debts.
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