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AN
EXAMINATION OF INCOME AND EXPENDITURE PATTERN AMONG THE STUDENTS
ABSTRACT
This research is on the income and
expenditure pattern among the student of IMT, Enugu which is the case study. It
is made up of five chapters, each of the chapters dealt with a particular
aspect of the research work.
The research work aimed at identifying
the sources of income open to students in the higher institutions of learning
and universities as well as also how they spend this money given to them. Four
research questions were set, the instrument used for data collection was a
questionnaire containing 13 questions relating to the study.
The sample size used was determined by
the yaro yamenic (1964:280) formula as such 40 persons were used. These persons
were students who live in the hostels. Responses from the respondents were
presented in able and analyzed using simply percentage method with a hypothesis
presented using the chi-square method. Findings on research on the research
showed that the greatest problem students have in income adjustment is that the
emulate others whose income are not the same.
Secondarily, they do not significantly
adjust well to their expenditure pattern in schools.
Finally, some recommendation and
suggestion in some areas for further research were made. Among these
recommendations area:
i.
That student should refrains from band wagonism.
ii.
They should form an expenditure pattern as a guide to their expenditure
exercise.
iii.
Should not go to extreme when they are short of money resulting from
maladjustment. This is to avoid the negative impacts attributable to
mal-adjustment.
These, and more are the recommendation
advanced to students to assist them in the income and expenditure
pattern.
PROPOSAL
This research shall consist in details,
the social adjustment and expenditure pattern. Among the statements of IMT
Enugu. It shall focus much o the sources of income open to student in the
higher institutions of learning and universities as well as how they spend
those money given to them.
The research will also comprise of
questionnaire, which are related to the study. The sample size that will be
used shall be analyzed using simple percentage method with a hypothesis that
will be presented using the chi-square method.
This research shall be made of five
chapters, chapter one will consist of the general introductions, chapter two
shall talk about the literature review while chapter three will comprise of
research methodology. Chapter four shall discuss about the data presentation
and analysis. The last chapter shall discuss the summary of finding to the
problem and limitations, which the researcher shall encounter while carrying
out research works.
TABLE OF CONTENTS
CHAPTER ONE
INTRODUCTION
1.1
Background of the study
1.2
Statement of problem
1.3
Objection of the study
1.4
Research questions
1.5
Hypothesis
1.6
Significance of the study
1.7
Scope of the study
1.8
Definition of terms
CHAPTER TWO
2.0 Review of
literature
2.1
Sources of finance to students
2.2
Expenditure item for the student
2.3
Modus of adjustment
2.4
Problems associated with students adjustment to new
Expenditure pattern
CHAPTER THREE
3.0
Research methodology
3.1 Sources of data
3.2
Population
3.3
Sample size
3.4
Sampling method
3.5
Instrument for data collection
3.6
Validation of instrument
3.7
Collection of data
3.8
Method of analysis
CHAPTER FOUR
4.0
Presentation and analysis of data
4.1 presentation and
percentage analysis
4.2
Testing of hypothesis
CHAPTER FIVE
5.0
Summary of findings, conclusion and recommendation
5.1 Summary of
findings
5.2
Conclusion
5.3
Recommendation
5.4
Limitations
BIBLIOGRAPHY
CHAPTER
ONE
INTRODUCTION
BACKGROUND OF THE STUDY
This research work titled income and
expenditure pattern among the student of institute of management and technology
Enugu, will slightly take our minds back to the parameter and yardstick for
proper and genuine development of s nation especially Nigeria to be preside.
Luca Dacioli in his treatise says that
“frequent accounting makes for a lasting friendship”. This goes a long to
explaining how the student of IMT are being funded and how they go about
expending the money they have to their basic scholastic necessities.
The periodical institutional mechanism
for developing human skills and knowledge at the highest level is the
polytechnic system. It follows therefore that any governmental effort for
economic development should be duty bound, to give priority to polytechnic
educational
system.
In Nigeria, educational has been highly
emphasized by both state and federal government. The existence of 11 (eleven)
federal and 21 (twenty one) state polytechnic as at early 90’s is a dear
manifestation of this emphasis on high level manpower, among other factors, has
given rise it the increase demand for polytechnic education. This increased
demand reached climax with the setting up of the joint Admission and
matrictuculation Board (JAMB) for polytechnics. This works towards the goal of
increased students intakes. This developmental idea being rested on human
resources instead of capital material resources is qualified by HARRISON
(1973,P.3) who said “human beings are agents who accumulate capital, exploit
natural resources, build social, economic and political organization and carry
forward National development.
Although, the federal government
through their various laudable establishments like (JAMB POLY) etc.
anticipation the expansion of polytechnic but it is unfortunate that there is
no communicate increase in the sum of money allocated. For example, reveals the
undergraduates bursary. Such plan years too a stipend amount of N12m is
allocated to polytechnics unless there is a change recently because of the
democratic anticipated platform.
Down to the state level as well, the
state provides equal benefit for each palm year, without considering the
increase in total enrolment each year. Despite the dependence of a greater
number of students on the bursary awards for their schooling. The state
government knowing this full well most of them have stopped giving this bursary
awards while the remaining others out down the amount being given to their
students.
A proper investigation into students
financing has classified students into two broad groups.
1.
Private students who are self-financed
2.
Student under scholarship
3.
Private students, fall under the category of those who are not enjoying any
from of scholarship award. They cater for their financial obligations in the
institution through the followings
a.
Sponsorship by parents or guardians.
b.
Self-sponsorship from personal saving.
Particularly in the case of
students who
have
worked for some year before gaining admission and those presently working and
engaging in distant education, part-time studies and the like.
c.
Sponsorship by local community and finally.
d.
Borrowing from distant relatives, friends and well-wishers on various items
ranging from leashing of land, through, other acceptable securities pending the
repayment of the loan after completion of studies. To an understanding that
they should train the children of their parent sponsors after graduation.
Having itemized the sources of private
students financing, it is necessary to know their spending behavior bearing in
mind that the money is coughed out from their sponsors hard earned meager
income. Most often, the students under this category run into acute shortage
part of the money is utilized for feeding and accommodation and little or
nothing is left over buying of handouts and text books and other personal
needs.
Attempts were made by the federal
government previously to alleviate the suffering of private of self-financed
students. The first of its kind was 1963, when the federal government established
the federal scholarship advisory board. This board was charged with the
responsibility of;
a.
Advancing awards as far as possible to the manpower needs of the federation.
b.
Giving scholarship allowance at a flat rate so as to increase the number
of awards, thereby reducing the parity between government sponsored students
and self financed students.
Again in 1973 a loan scheme was
introduced to students in the higher institute of learning. The idea was to
argument for the students not provided for in the former arrangement. The loan
for each students in a session then, initially ranged from N400 to N500
now it increased to N1000 per session depending on their cause of study.
Presently and as from 1977 these forms
of assistance of students seized. The fate of self-financed students are based
now on survival of defeats.
1.1.
the second group the students under scholarship, those who receive support from
government, companies, individuals or even the polytechnics. Before the 90’s
they were really cared for because of the subsidized feeding fees, tuition,
fees, boarding and hostel accommodation fees out gradually as the military who
were in power hadn’t education as there priority. Their arrival put a stop to
the various forms of scholarship open to students, the only geniuses noted
scholarship still in existence were the overseas scholarship scheme, quiz and
letter writing awards etc.
Finally, because of the difficulty
associated with funding of students especially students of IMT one might be
interested to knows the expenditure partten of students as to compare it
with the former days when scholars were a treasure.
1.1
STATEMENT OF PROBLEM
Education is like a project for an
project, its financing is very important. Since finance is one of the major
problems students face in school, it cannot be easy for students sponsors to
give out money irrationally without knowing the students spending habits.
Therefore, the question the researcher
wants to find answers to are, the various sources through which students are
and have been sponsored. Finally, the different means the students spend money
being given to them.
1.2
OBJECTIVE OF THE STUDY
This study is purposefully designed to
X-ray the following areas:
1.
To identify the sources of income for students in the institute of management
and technology
2.
To identify items of expenditure for students in IMT
3.
To find out extent students has adjusted to their new pattern among
students.
1.3
RESEARCH QUESTION
The
following questions has been asked to guide the study
1.
What are the sources of finance to students
2.
What are the items of expenditure among the students of IMT?
3.
To what extent has students adjusted their pattern of expenditure.
4.
what are the problems associated with social adjustment and expenditure
pattern among students of IMT.
1.5
HYPOTHESIS
The following hypothesis has been
formulated as an additional guide to the study.
HYPOTHESIS I
HO: The greatest problem of
students social adjustment in school is not that students emulate their
colleagues whose income is not the same.
Hi: The greatest problem of student’s
social adjustment to new pattern of expenditure is that they emulate their
colleagues whose income is the same.
HYPOTHESIS ii
HO: Students do not significantly
adjust well to their new pattern of expenditure
Hi: Students adjust well to their new
pattern of expenditure.
1.6
SIGNIFICANCE OF THE STUDY
This study is meant to identify the
students spending pattern in order to help them adjust their expenditure
pattern. It is also to help students make a rational budget plan.
To also help them improve on the
planning discipline as well as to encourage government and their sponsors
provide some needs of students, which are beyond the reach of an average. It is
also to encourage state and federal government to increase the bursary and
answers given to students and lastly to provide a data for further studies.
1.7
SCOPE OF THE STUDY
The scope of this study is limited to
thee population of the student IMT of the 2001/2002 session.
Although, still among this scope, some
group of students were still eliminated they are:
i.
The off-campus student and
ii.
The praline students.
The off-campus students were excluded
for these reasons. The sample was drawn from hostel of students’ residence for
easy administration of questionnaires.
More so, their number is found to be
too small so their behavior is unlikely to affect the expenditure pattern.
Finally, most of them are new students who are often not entitle to hostel
accommodation.
Conversely, the prelim students were
left out also because they have not filly formed their expenditure behavior at
the time when this research work was done.
1.8
DEFINITION OF TERM
There is the need to define some words,
we shall often meet viz:
1.
Average: The result of adding several quantities together and dividing
the sum by the number of quantities.
2.
Expenditure: Spending or using amount of money on item
3.
Patter.: Way of doing fings or ways in which things happen, developed or
arranged.
4.
Social adjustment: The relations between people and community especially IMT
community and how they altar something to make it fit and be used rightly.
5.
Percentage: Rate of number per cout.
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