The Influence Of Personal Financial Knowledge And Behavior On Level Of Student Loan Schemes Adoption: A Case In Ho Chi Minh City

Abstract

The higher education is gradually moving towards autonomy to modernize in Vietnam and integrate with the current international higher education system, which makes tuition fees of schools are constantly increasing over the years. However, this is an obstacle for many students who do not have economic conditions when they have to find ways to pay for that expense. Therefore, loans programs are proposed to accompany with students that solves their financial problems to access higher education. This study aims to examine the knowledge and financial behavior to learn about and level of student loan schemes adoption. We did build up a research framework based on Theory of Planned Behavior (TPB), data from secondary sources and result from quantitative research. Subject of the survey is student living and studying in Ho Chi Minh City. Quantitative research took place via individual interviews in virtual questionnaires with some questions relating to the topic. This questionnaire has attracted 294 HCMC respondents through Google Form. SPSS and AMOS are two assistance softwares which were used during our process of synthesis and data analysis to test the confidence interval, the validity and the importance of the variables. Most of the variables in our research have been proved as interdependence to one another. The research results emphasize the influence of financial knowledge and behavior on level of student loan schemes adoption. From there, solutions and recommendations are suggested to bring these programs closer to students to facilitate access and use properly.