BENEFITS OF FULLY FUNDED SCHOLARSHIP ON EDUCATIONAL ACQUISITION OF YOUTHS
CHAPTER ONE
INTRODUCTION
1.1 Background of the study
A population’s level of educational attainment is a key measure of a country’s total amount of human capital acquired, making it one of the most important factors in determining a country’s level of prosperity and economic competitiveness on the international stage (Ace- moglu and Robinson, 2016). According to the World Economic Forum, higher education is critical to a country’s competitiveness because “today’s globalising economy requires countries to nurture pools of well-educated workers capable of performing complex tasks and adapting quickly to their changing environment and the evolving needs of the production system.” This statement emphasizes the importance of education beyond high school for national competitiveness (Schwab, 2015).
Higher education is especially important for competitiveness.
nations with developing and transitioning economies, such as the 15 former Soviet Socialist Republics, which have been transitioning from socialist systems to market economies since the Soviet Union’s demise in 1991. Although labor market policies and other forces play a role, higher education is especially important to the competitiveness of developing and transitioning economies (Rashid & Rutkowski, 2015).
To complete the transition from a centrally planned economy to a market economy, the labor market must be significantly reorganized. As a result of this reorganization, “considerable weight” is typically placed on the economy’s education and training sectors in order to “smooth any labor market transition” (Clark, 2016).
One strategy that a number of countries, including those in the EU, have adopted
That were formerly part of the Soviet Union (such as Azerbaijan, Armenia, Kazakhstan, and Russia), as well as governments in other parts of the world (such as Brazil, China, Iran, and Saudi Arabia), have implemented financial assistance to students from their home country so that they can attend postsecondary institutions in other countries in order to develop their human capital (Knight, 2016).
The governments of the countries that fund international scholarship programs assume that the benefits of obtaining a higher education from a school in a country other than one’s own are distinct from the benefits of studying at a school in one’s own country (Messer & Wolter, 2017). This strategy may be able to construct
the international perspectives of the home nation’s population by utilizing the long-standing and high-quality educational offerings available in other countries (Knight, 2016). It may also encourage the transfer of knowledge and the development of skills that employers require. Around 3.5 million people, or 2% of all students enrolled in higher education worldwide, studied in another country in 2010. (UNESCO Institute for Statistics, 2015). Even if the proportion is small, the potential benefits of studying abroad to individual and community prosperity may be substantial, especially in a country experiencing economic and political upheaval.
Governments can promote the accumulation of individual human capital by sponsoring programs that provide financial and other assistance to individuals.
study at and earn degrees from postsecondary institutions outside of one’s home country. These programs may also benefit the home country by increasing national economic growth and productivity, internalizing democratic values, human rights practices, and fostering “international understanding and knowledge” (Edelstein & Douglass, 2016).
1.2 Problem Description
According to the findings of numerous studies, attending school in another country benefits not only the participants but also their home countries (Crossman & Clarke, 2017). Despite this, research into the outcomes of studying in another country faces significant methodological and theoretical constraints. In their comprehensive review, Twombly and colleagues (2015) concluded that the positive effects found in research examining US students who study abroad may be overstated. This
This could be due to the reliance on data from single institutions and small and non-representative samples, a lack of theoretical grounding, and a disregard for student self-selection into study abroad programs or the growth and development that would occur among college students regardless of their choice to participate in study abroad programs.
It is likely that the conclusions reached about the benefits of studying abroad for US students have limited relevance for other countries, particularly those that restrict eligible countries, institutions, and majors and/or have requirements for studying abroad after graduation. Despite this, Twombly et al. (2015) discovered that the individual benefits of studying in a foreign country vary depending on participant characteristics and the program, in
This is likely to be true regardless of the student’s country of origin, in addition to characteristics of the host nation. The extent to which a home country benefits from its citizens’ educational experiences abroad is determined by whether or not students choose to remain in and contribute to the economy of the country where they received their education and find employment after completing their studies (Bergerh-off et al., 2015).
1.3 The Study’s Objectives
The primary goal of this research is to look into the effects of fully funded scholarships on youth educational attainment. The following are the study’s specific objectives:
i. To ascertain the extent to which Nigerian youths have access to fully funded scholarships.
ii. To discover the advantages of a fully funded scholarship on educational acquisition to the
Nigerian teenagers.
iii. To investigate the effects of fully funded scholarships on the educational attainment of Nigerian youths in the country.
iv. To learn about the challenges that Nigerian youth face when applying for fully funded scholarships.
1.4 Research Issues
This study will address the following research questions:
i. To what extent do Nigerian youths have access to fully funded scholarships?
ii. What are the advantages of fully funded educational acquisition scholarships for Nigerian youths?
iii. What are the effects of fully funded scholarships on the educational attainment of Nigerian youths in the country?
iv. What are the challenges that Nigerian youth face when evaluating fully funded scholarships?
1.5 Importance of the Research
This research will be extremely beneficial to Nigerian society.
Nigerian teenagers.
iii. To investigate the effects of fully funded scholarships on the educational attainment of Nigerian youths in the country.
iv. To learn about the challenges that Nigerian youth face when applying for fully funded scholarships.
1.4 Research Issues
This study will address the following research questions:
i. To what extent do Nigerian youths have access to fully funded scholarships?
ii. What are the advantages of fully funded educational acquisition scholarships for Nigerian youths?
iii. What are the effects of fully funded scholarships on the educational attainment of Nigerian youths in the country?
iv. What are the challenges that Nigerian youth face when evaluating fully funded scholarships?
1.5 Importance of the Research
This research will be extremely beneficial to Nigerian society.
as well as being prejudiced. Despite this, the investigator was able to overcome the difficulties by adhering to the broad principles of process respect, justice, fairness, impartiality in observation and recording, and evidence weighing.
1.8 Terms Definition
Fully Funded Scholarship: A fully funded scholarship covers all of your college expenses and cannot be used for anything else. Scholarships are typically provided by colleges and universities, as well as private organizations with generous donors.
Education is a deliberate activity aimed at achieving specific goals, such as transmitting knowledge or developing skills and character traits. These objectives may include the growth of comprehension, rationality, kindness, and honesty.
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