THE IMPACT OF FINANCIAL STRAIN ON THE WELLBEING OF OVERSEAS INTERNATIONAL STUDENTS (Term Paper Sample)

THE IMPACT OF FINANCIAL STRAIN ON THE WELLBEING OF OVERSEAS INTERNATIONAL STUDENTS Name of Student Course Name of Professor University Date The Impact of Financial Strain on the Wellbeing of Overseas International Students Introduction There is a robust body of knowledge concerning the issue of challenges faced by international students. This report seeks to capture the main themes emerging from empirical research on the topic. The overarching assumption is that international students experience unique challenges that are both conventional and unconventional in nature. The research question is how financial strains impact on different dimensions of international student wellbeing. Out of these, financial challenges are the most prominent and are linked to housing and accommodation challenges, sociocultural adaptation deficits, and health gaps. One of the hallmarks of globalization is the popularity of international study where students seek to take advantage of scholarly opportunities outside their home countries. International study is an especially transformative force because it supports the diffusion of knowledge. However, there are concerns regarding the well-being of students who leave their countries and go into new environments in pursuit of additional studies. Beyond the issues discussed in the present review of literature, there are opportunities to examine how social categories and identities impact the studying experience of international students. There is also an opportunity to examine the role that universities and other relevant stakeholders and the long term implications of the unique challenges that international students face. Financial Struggles Faced by International Students The breadth of research on the topic of challenges that international students face when studying abroad suggests that financial hardships are among the most conspicuous. According to Morris et al. (2023), international students in Australia must cope with financial struggles that originate from such issues as the cost of life in major cities. The article clarifies that cities such as Melbourne and Sydney impose upon students a high cost of living. The views of Morris et al. are echoed by Blackman et al. (2023) and Olson and Banjong (2016) who argue that financial pressures facing international students have unique implications for their wellbeing. For instance, Arkoudis et al. (2019), Blackman et al. (2023) and Forbes-Mewett and Sawyer (2019) note a marked imbalance in how international students in Australia prioritize their life needs Broadly, there is a robust body of literature that presents a level of credibility adequate enough to support conclusions using both qualitative and quantitative data analysis. Such diversity in methods facilitates an objective and subjective views on the issue. The issue of financial challenges for international students is widespread. Outside Australia, Gautam et al. (2016) and Richardson et al. (2017) reveal similar problems for students in the United States and Britain. Here, study subjects showed financial deficits that manifested in aspects of life such as quality of life and transportation. Subsequently, there is a pervasive impact of financial struggles proven to challenge not only the quality of life but also the future decisions of international students studying abroad. Though the extent of research differs with some focusing on one aspect such as housing and others on a diverse range of issues, there is broad consensus on the outcomes. The financial problems that face international students have varying causes. In exploring this issue Calder et al. (2016) note that international students in Australia come from countries whose economies are relatively weaker (Clibborn, 2021). Therefore, currency exchange variations may translate into some loss of value for students relying on funding sources that are outside of the host country. Hagedorn et al. (2016) also raise the important point that students coming into Australia from low income countries experience a significantly different standard and cost of living. Kusek (2015) tries to build upon this idea by noting that isolation in a new country also has implications for financial capability. The absence of social networks forms a critical challenge for foreigners looking for work in a new country. Theoretically, the various studies represent attempts to understand the issue from various lenses. The most common approach to conceptualizing the issue is that of the dependency theory. Most studies in the works reviewed adopt a social justice theory approach where inequalities in economic relationships between developed and developing countries are the major cause of the realities that face international students. When faced with unfavorable financial circumstances, students are forced to develop coping strategies such as employment to afford a decent quality of life. According to Morris et al. (2023), paid employment is a valuable resource for students hoping to cope with the financial burden that comes with undertaking a school program. However, the absence of adequate or convenient employment opportunities may also mean that students may lack the means to meet the daily costs of living (Mofatteh, 2021). The current economic landscape in Australia presents uniquely challenging circumstances where jobs paying a reasonable rate are difficult to secure (Jackson and Bridgstock, 2021). The recent global COVID-19 pandemic and the following recession currently mean that paid opportunities are fewer as many organizations are currently experiencing a downturn. This issue comes up in severally in studies such as that by Gautam, Lowery, Mays, and Durant (2016), Mbous, Mohamed, and Rudisill, (2024), Hagedorn et al. (2016), Hari, Nardon, and Zhang, (2023), Kusek (2015), and Thatcher et al. (2020) signifying its visibility in research. Subsequently, the issue presents an issue for further analysis to identify ways that students can cope with employment difficulties in a new country. Housing and Accommodation Going forward, the existing research identifies secondary effects arising from financial deficits experienced by international students. There are two prominent issues related to housing that are raised in the body of research on the topic of hardships that face international students. First, Morris et al. (2023) and Calder et al. (2016) observe that international students must undergo the pressure that comes with securing an affordable and convenient housing arrangement. The problem of housing is especially prominent in major Australian cities. Such costs are highly restrictive for students already burdened with the cost of tuition and daily sustenance (Khanal and Gaulee, 2019; Haverila, Haverila, & McLaughlin, 2020; Qadeer et al., 2021). Yue, Lê, and Terryv (2014) expand on the issue of housing remarking that it has relevance beyond its financial implications. For instance, housing location translates to varying levels of convenience on issues such as diet and transportation (Gautam, Lowery, Mays, and Durant, 2016; Jones, 2017). Low-cost housing or housing that is within the budget of international students is often located a significant distance away from the tuition facilities which introduce an additional need for transportation. Amenities such as diet may also be compromised. Typically, students resort to cost and space sharing to cut down on the costs of housing. This may help to ease the problem but also raises a new set of problems related to the quality of basic living conditions. Overall, housing is a complex issue that students must navigate when studying abroad. There have been attempts to conceptualize this problem by research. For instance, Baklashova and Kazakov (2016) define housing problems as a transitional difficulty that some students face after arriving in the country of study. In their study, Martirosyan, Bustamante, and Saxon, (2019) and Wu et al. (2015) place a duty upon learning institutions to offer services that can ease this housing burden for students. There is a mandate for universities to prepare their students with some basic resources to guide them in securing affordable accommodations (Tomasi, Paviotti, and Cavicchi, 2020). Notably, the research does not outline specific interventions and their practicality. Sociocultural Adaptation and Well-being The other emergent theme from research on the topic is that financial limitations impose a barrier to students’ ability for social-cultural adaptation. According to Yue, Lê, and Terryv (2014), health behavior and basic living conditions are a fundamental human requirement. The basis for this argument is that health behavior and living conditions are closely associated with emotional and psychological wellness. In their study, Koo, Baker, and Yoon, (2021) and Yue, Lê, and Terryv (2014) argued that students needed to adapt not only at a physical but psychological level. This adaptation also includes elements of social adaptation producing a more holistic experience. According to Wu et al. (2015), social isolation is equally problematic for students studying abroad. García et al. (2019) define this problem as an issue that manifests with students lacking a sense of belonging. The various studies appear to agree on the need for educational institutions to adopt strategies that promote an inclusive environment. For example, a policy of socio-academic integration would go a long way in helping overcome the isolation of international students. Given the link between social isolation and behavioral issues such as anxiety, and depression there is consensus on the critical to ensure the availability of social support resources. This line of thought connects with the ideas presented in Backman et al. (2023). These researchers noted that financial shortages challenged how international students experience the process of integration into their ...