THE EFFECT OF THE RECENT ECONOMIC RECESSION ON THE ACADEMIC PERFORMANCE OF STUDENTS IN THE HIGHER INSTITUTIONS OF LEARNING IN THE RURAL SOCIETIES

The recent economic recession in Nigeria has had a significant effects on the academic performance of students in the higher institution. The high rate of unemployment and inflation have caused financial difficulties and strain on families making it difficult and hard for students to afford tuition fees as well as educational/academic resources, which contributed to the decline of the students’ academic performance for effective human development. This research focused on the recent effect of economic recession on the academic performance of students in the higher institutions in the rural societies. The main objectives of this study is to find out the root causes of the recent economic recession and also to find out the extent to which the economic recession affects academic performance of the students in the rural societies. Descriptive survey research design was used and quantitative approach was also used because the data analysis technique is statistical in purpose to get clear answers to the research questions. The populations of this study were students from different faculties in their various institutions. Population of 300 undergraduate students were considered. The findings of the research revealed the negative effect of the recent economic recession on the academic, physical, emotional, spiritual and mental health of the students. The financial stress and uncertainty about their future prospect have led to increased levels of anxiety, depression, and other mental health and socio-economic issues which affect students’ academic performance in the institution among which are inadequate money to pay for facilities us in the institution, rapid-annual school tuition fee increment, lack of frequent funding from the government (scholarship) for operating expenses. The study recommended that, the school management as the directors of academic activities in the institutions should always ensure proper coordination of regulation of cost of the educational services around the campus so that students’ can purchase at their level of financial ability. Furthermore, the government and other stakeholders should create more sponsors and scholarship for students to have ease in their academic struggled.