Statistical Analysis on the Effect of High Cost of Living on Students’ Academic Performance

ABSTRACT
The high cost of living has become an increasingly significant challenge for students at the University of Port Harcourt, affecting various aspects of their lives, including academic performance. This study investigates the impact of financial stress on students' academic outcomes, focusing on monthly expenses, coping strategies, and the relationship between financial status and academic performance. Using a survey conducted among students, data was collected on expenses related to accommodation, transportation, food, academic materials, and other living costs. The study examines the relationship between students' financial status, represented by residential status, and their academic performance, as measured by CGPA. Additionally, the analysis explores the academic performance variations across different study levels and identifies the coping strategies students employ to manage financial stress, such as budgeting practices and seeking financial aid. The data was analyzed using a combination of descriptive statistics, Chi-square tests, and ANOVA. The results suggest that while financial stress affects students' well-being, coping strategies, including budgeting and financial aid, help mitigate the negative impact of high living costs on academic performance. Furthermore, the study finds that students' academic outcomes are influenced by their residential status, with students living off-campus facing more significant financial challenges. The findings underscore the need for targeted interventions to support students in managing financial stress and enhancing their academic success. The study provides valuable insights for university administrators and policymakers seeking to improve students' well-being and academic performance amidst rising living costs.