A Critical Study of Students‘ Financial Issues in Higher Education in Pakistan

Higher education is facing immense stress and unparallel pressure all over the world (Hussain 2012). After the independence of the country, the higher education has been unable to find a real place it deserved that resulted in lower product standards and increasing number of unemployment for graduates (Ahmad 2019). Higher education though is deemed to be the real force for any country to grow and achieve social and economic developments (Barnet, 1990). Illiteracy enables people unaware of their debt (Lusardi, 2009). As Pakistan is third world and developing country so the sole weapon for people is to grow and make economic achievement in life (Sajida 2019). Apart from so many other issues, a major issue faced by the developing countries is the financial articulacy that lacks in the youth especially in Pakistan. This particular problem of financial constraints leads to a due to which students get stuck in a constant cycle of financials problems and strain (Farhan, Kashif, Izhar 2016). This research is primarily determined to study and analyze the financial problems of the students pursuing higher education in Pakistan