Unveiling Student Scholars’ Lived Experiences: Identities, Uncertainties, and Realities

Students with financial scholarships, as observed remain at risk of leaving school despite receiving financial assistance, as personal, academic, and emotional struggles often hinder persistence. With student retention emerging as a growing issue in higher education, it is essential to understand these challenges to sustain enrollment and support student success. This study explores the lived experiences of financial scholars at PHINMA Cagayan de Oro College who completed their undergraduate degrees through financial scholarship programs. The main objective of this research is to explore how financial scholars construct meaning from their experiences and how these shaped their academic journey and personal growth. Specifically, it aims to examine how scholars perceive and construct their identities, understand how they manage fears and uncertainties in their academic and personal lives, identify the challenges they face in balancing multiple responsibilities, and determine the support mechanisms that institutions should provide to help them thrive academically. Using a descriptive phenomenological design, six graduates from families with limited financial means were chosen through purposive sampling to share their stories in semi-structured interviews. Their narratives were analyzed using Colaizzi’s seven-step method and validated through member checking. From the analysis, six themes emerged: resilience, commitment, acceptance of emotional vulnerability, faith amid adversity, persistence and perseverance, and a goal-driven mindset. Despite financial hardship, emotional stress, and multiple responsibilities, the scholars remained focused on graduation. The findings highlight the need for student support systems that go beyond financial aid by integrating social, emotional, and academic success.