- Title
- NSFAS-funded Students’ Financial Wellness Perceptions and Experiences as a Component of Holistic Wellbeing: An Exploratory Study
- Creator
- Peters, Melody
- Subject
- Student wellbeing
- Subject
- Financial wellness
- Subject
- NSFAS-funded students,
- Date Issued
- 2023-04
- Date
- 2023-04
- Type
- Master's theses
- Type
- text
- Identifier
- http://hdl.handle.net/10948/66604
- Identifier
- vital:76028
- Description
- Thousands of students from previously disadvantaged backgrounds are funded annually by the National Student Financial Aid Scheme (NSFAS). Since its inception in 1995, it has had great success providing opportunities for those in poverty, working towards rectifying the injustices of Apartheid. However, attrition rates are high. Higher Education research has recently focused on student wellbeing and wellness. The latest research in 2020 from Nelson Mandela University (NMU) recommends further studies in financial wellness, as it lacks representation in the literature. A qualitative, explorative study was conducted with NSFAS-funded student participants who are currently registered at NMU. Six participants were recruited using a snowballing sampling technique and were interviewed using a face-to-face semi-structured interview. The aim was to explore NSFAS-funded students’ perceptions of financial wellness and their financial experiences during university. The financial experiences were reviewed as a component of holistic wellbeing. Prilleltensky’s ecological model of justice and wellbeing provided the theoretical framework with a financial wellness model integrated into Prilleltensky’s model. Data analysis, using thematic analysis, was carried out, and a model of trustworthiness was utilized to ensure the reliability and validity of the qualitative data and research process. Findings from the research conducted revealed that financial wellness is perceived as the meeting of basic needs whereas associations of financial wellness are perceived in greater quality and quantity of possessions and greater psychological wellbeing. Obtaining financial wellness is dependent on family, personal choice, and financial literacy skills. NSFAS errors generates stress and the NSFAS process creates a reciprocal financial relationship between the student and the family system. The university provides institutional support which can assist or create more stress for students. Participants’ financial experiences impact their psychological and social wellbeing, but despite these difficulties participants show resilience when faced with adversity.
- Description
- Thesis (MA) -- Faculty of Health Science, School of Behavioral Sciences, 2023
- Format
- computer
- Format
- online resource
- Format
- application/pdf
- Format
- 1 online resource (254 pages)
- Format
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Health Sciences
- Language
- English
- Rights
- Nelson Mandela University
- Rights
- All Rights Reserved
- Rights
- Open Access
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- Downloads: 6
Collections
NMU School of Behavioural Sciences
| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | FINAL_HEALTH Peters MJ 202308723.pdf | 2 MB | Adobe Acrobat PDF | View Details Download |