PERCEPTION OF EDUCATIONISTS ON THE IMPACT OF FULLY FUNDED SCHOLARSHIPS ON YOUTHS.

PERCEPTION OF EDUCATIONISTS ON THE IMPACT OF FULLY FUNDED SCHOLARSHIPS ON YOUTHS.

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

One tactic used by many nations, including those that were once a 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), is to give financial aid to students from the home country so they can attend postsecondary institutions in other nations (Knight, 2016). The level of educational attainment of a population, according to Ace- moglu and Robinson (2016), is a key indicator of the total amount of human capital that a country has amassed, making it one of the most crucial factors in determining a country’s level of prosperity and economic competitiveness on the global stage.  Several nations, including those that were formerly a part of the Soviet Union (such as Azerbaijan, Armenia, Kazakhstan, and Russia), as well as governments in other regions of the world (such as Brazil, China, Iran, and Saudi Arabia), have adopted this tactic in order to develop their human capital (Knight, 2016). One of the most crucial factors in determining a country’s level of prosperity and economic competitiveness on the global stage, according to Ace- moglu and Robinson (2016), is the level of educational attainment of its population. This is because it serves as a key indicator of the total amount of human capital that a nation has acquired.

stage. Higher education is essential to a country’s competitiveness, according to the World Economic Forum, because “today’s globalizing economy requires countries to nurture pools of well-educated workers who are able to perform complex tasks and adapt rapidly to their changing environment and the evolving needs of the production system.” This claim emphasizes how important education beyond the high school level is for maintaining national competitiveness (Schwab, 2015).

It’s important to note that the governments of the countries that fund international scholarship programs believe that the advantages of receiving a higher education from a university in a nation other than one’s own are distinct from the advantages of attending a university in one’s own nation (Messer & Wolter, 2017). This method might be able to broaden people’s perspectives globally.

by utilizing the long-standing and top-notch educational programs offered in other countries to the citizens of the home country (Knight, 2016). Additionally, it might promote the dissemination of knowledge and the growth of the kinds of skills that employers want. In 2010, about 3.5 million people, or 2% of all students enrolled in higher education worldwide, pursued their studies abroad (UNESCO Institute for Statistics, 2015). Even if the proportion is small, studying abroad may have significant benefits for both individual and societal prosperity, particularly in a country with unstable political and economic conditions.

Despite the fact that most student financial aid concentrates on three types of funding (grants, loans, and work study) from two sources (federal government and state government). With some recent exceptions, there isn’t much information available about the

college and university fully funded scholarships’ effects on young recipients. Colleges and universities provided 18% of all financial aid to post-secondary students in 2005-2006, with private grants and employer contributions accounting for the remaining 7%. (The College Board, 2006). One online source of scholarship data for local, state, and college students (Fastweb, 2017) asserts to have a database of “1.3 million scholarships worth over $3 billion. Given the prevalence of this type of aid, it is surprising that local, national, and college scholarships receive so little attention in the literature on financial aid.

1.2 Definition of the Issue

The persistence of the student (i.e., continued enrollment in the institution) and progression are typical indicators of the academic success of students (i.e., successful accrual of credit hours),  and graduation on schedule ( (Knight, 2016). Many studies demonstrate that college students’ success is facilitated by the availability of financial aid and scholarship grants. These include both need-based and merit-based aid, and they can take the form of grants, loans, scholarships, free tuition, and thesis grants. Scholarships and financial aid may have a direct impact on students’ academic motivation, according to Robins et al. (2004). The student might be directly encouraged to persevere and do well if they are aware that doing well in school is necessary to keep their scholarship. Compared to loans, grants and scholarships had more noticeable effects on perseverance and graduation. In their thorough review, Twombly & colleagues (2015) came to the conclusion that the benefits identified in studies looking at American students who study abroad might be exaggerated. This

The failure to consider factors such as the self-selection of students into study abroad programs, or the growth and development that would occur among college students regardless of their decision to participate in study abroad programs, as well as the reliance on data from single institutions and small, non-representative samples. Despite the literature on the value of fully funded scholarships, the educationalist viewpoint on the effects of these scholarships on young people has received little attention.

1.3 Study’s Objectives

This study’s main goal is to investigate how educators perceive how fully funded scholarships affect young people.

This study’s specific goals are:

i. To find out how many Nigerian youths receive fully funded scholarships.

ii. To determine

the advantages of fully funded scholarships for acquiring an education to young people in Nigeria.

iii. To ascertain the effects of fully funded scholarships on the country-specific educational acquisition of Nigerian youths.

iv. To learn how educators view the effects of fully funded scholarships on young people.

1.4 Questions for Research

In this investigation, the following research queries will be addressed:

i. To what extent do young people from Nigeria have access to fully funded scholarships?

What advantages do fully funded scholarships for educational acquisition provide for young people in Nigeria?

What effects do fully funded scholarships have on the country-specific educational pursuits of young Nigerians?

iv. How do educationists view the effects of fully funded scholarships on young people?

1.5 Importance of the Research

The results of this study will show the advantages of fully funded scholarships for young people and the effects they have on Nigerian society, both of which will be very beneficial to that country’s society.

This study will also have an impact on the decisions made by policymakers and education experts regarding the need to enhance the various scholarship programs across the country and make them easily accessible to the teeming youths.

1.6 Study’s Purpose

This study focuses on the advantages of fully funded scholarships for young people seeking education. This study is specifically concerned with determining the extent to which Nigerian youths have access to fully funded scholarships, learning about the advantages of fully funded scholarships for the Nigerian youths in terms of educational acquisition,

determining the effects of fully funded scholarships on the educational attainment of Nigerian youths in the nation and determining the opinions of educators regarding the effects of fully funded scholarships on youths. The respondents for this study’s survey will be chosen youths in Lagos State.

1.7 Restrictions of the Research

The researcher encountered many challenges while conducting this study, including time and resource constraints, problems with the respondents’ attitudes and language, and challenges with their use of English. To ensure the success of this investigation, the researchers were able to overcome these challenges.

Additionally, the case study methodology employed in the study

presented the investigator with a number of challenges, including the possibility of making incorrect judgments and being biased. Despite this, by abiding by the broad principles of respect for processes, justice, fairness, objectivity in observation and recording, and the weighing of evidence, the investigator was able to successfully navigate the challenges.

1.8 Terms Explained

Fully Funded Scholarship: A fully funded scholarship pays for all of your college-related expenses and prohibits you from using the money for any other purpose. Typically, universities and colleges or private organizations with kind donors offer the scholarships.

Education: Education is a deliberate activity with specific goals in mind, such as knowledge transmission or the development of skills and character traits. These objectives may consist of of comprehension, reason, kindness, and integrity.