Exploring the influence of financial stress on students’ academic performance and mental health at a selected university in Lagos, Nigeria

This study explores the influence of financial stress students’ academic performance, mental health, coping methods, support systems, and social pressures at a selected university in Nigeria. This study used a qualitative approach and a constructivist research paradigm. Data were collected through semi-structured interviews. Fourteen participants (6 males, 8 females) heterogenously sourced from different faculties were recruited at a selected university in Lagos, Nigeria. The thematic results suggested that financial stress influences students’ academic performance and mental health, which disrupts their academic work and causes emotional distress such as anxiety, depression, low self-esteem, and social withdrawal. The results showed that, notwithstanding these challenges, students used coping strategies, such as dependency on family and spiritual support. The findings challenge typical stress models by emphasising the importance of spiritual coping and family support in Nigeria. The study also connects these experiences to Nigeria's unstable economy, which includes high inflation and rising education costs, stressing the need for better support from institutions. This study shows that economic stress is complex, affecting not just finances but also thinking, emotions, and social life. It calls for policies that provide financial aid, mental health support, and social inclusion to help Nigerian university students succeed academically and maintain their well-being amid economic challenges. Such measures would steel students against economic challenges, thus enhancing their educational experiences and prospects.