Factors Affecting On Existing Student’s Higher Education Continuation During The Economic Crisis In Sri Lanka

Abstract

This study examines the factors influencing the continuation of higher education among students during the economic crisis in Sri Lanka. As the crisis unfolded, the higher education sector faced significant challenges, prompting management at various institutions to take urgent measures to mitigate the situation. However, they often lacked a clear understanding of the underlying issues and potential solutions. Despite the efforts of higher education authorities to encourage students to advance to the next level, many have chosen to discontinue their studies, and most initiatives have not yielded the desired results. Recent research has identified numerous factors impacting higher education continuation, yet the specific elements that significantly influence this process during an economic crisis remain unclear. This study aims to enhance student enrollment in higher education by identifying the key reasons behind students' decisions not to pursue further studies and encouraging management to implement effective strategies. The study's population included 11,000 students, with a sample size of 398. Data were analyzed using structural equation modeling (SEM). The findings reveal that teacher-student interaction and financial aid are strongly positively correlated with institutional factors, which, in turn, relate to higher education continuation. However, during an economic crisis, the direct correlation between teacher-student interaction and financial aid with higher education continuation diminishes. This study ultimately seeks to support the increase of student enrollment in advanced courses within the higher education sector.