FINANCIAL STRESS AMONG HIGHER EDUCATION INSTITUTION STUDENTS DURING THE COVID-19 PANDEMIC IN MALAYSIA: LEVELS, FACTORS AND AFFECTED HOUSEHOLDS

The opportunity to pursue higher education is a dream for many students. However, the academic journey is often accompanied by significant financial challenges, particularly for those from low-income families. This situation worsened with the outbreak of the COVID-19 pandemic, which forced students to transition to online learning. This shift created new financial demands, such as the need for technological devices and internet data, further exacerbating existing financial burdens. This article examines the level of financial stress, contributing factors, and recommendations to alleviate financial pressure among higher education students. A quantitative research approach was employed through a survey conducted among students in Malaysia. A total of 567 responses were collected and analyzed using descriptive analysis. The findings reveal that 50.1 percent of students experienced financial stress. The primary factors contributing to this issue include the cost of technological devices and a lack of financial savings, with 44.4 percent of students reporting no savings during the Movement Control Order (MCO). These findings serve as a valuable reference for students, parents, and the government in addressing financial crises among students, allowing for more strategic measures to be implemented.